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India: RBI sets up mechanism to settle international trade payments in rupees

The Reserve Bank of India (RBI) on Monday announced a mechanism to settle payments for international trade in rupees, which will help boost India's global ..

Vivek srivastavaForeign exchange management deposit regulationsCentral office at mumbaiForeign exchange department of reserve bankReserve bankAll categoryi authorised dealerForeign exchange departmentCentral officeForeign exchange managementAuthorised dealerRupee vostroSpecial rupee vostro accountsSpecial vostroUniform customsDocumentary creditsGeneral manager vivek srivastava

India s Central Bank, RBI Announces International Trade Settlement in Indian Rupees

Indian importers undertaking imports through this mechanism shall make payment in INR which shall be credited into the Special Vostro account of the correspondent bank.

Foreign exchange managementForeign exchange management deposit regulationsCentral office at mumbaiForeign exchange department of reserve bankExchange rateIssue of bankForeign exchange departmentReserve bankCentral officeForeign exchange management actRupee vostroSpecial rupee vostro accountsSpecial vostroUniform customsDocumentary creditsRupee payment

RBI forms arrangement in settling international trade payments in rupees

Indian exporters shall be paid the export proceeds in rupees from the balances in the designated Special Vostro account of the correspondent bank of the partner country, RBI stated.

Foreign exchange department of reserve bankIssue of bankReserve bankForeign exchange departmentSpecial vostroUniform customsDocumentary creditsRupee paymentIndian banksMaster directionRupee payment mechanismBank guaranteeSurplus balanceSpecial vostro accountsGovernment treasury billsVostro account

MIL-OSI Banking: International Trade Settlement in Indian Rupees (INR)

MIL-OSI Banking: International Trade Settlement in Indian Rupees (INR)
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Vivek srivastavaInternational trade settlement in indian rupeesExchange rateIssue of bankForeign exchange management actForeign exchange management deposit regulationsForeign exchange managementCentral office at mumbaiForeign exchange department of reserve bankReserve bankTrade settlementIndian rupeesForeign exchange departmentCentral officeRupee vostroSpecial rupee vostro accounts

RBI sets up mechanism to settle international trade payments in rupees

RBI sets up mechanism to settle international trade payments in rupees
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Vivek srivastavaForeign exchange management deposit regulationsCentral office at mumbaiForeign exchange department of reserve bankReserve bankAll categoryi authorised dealerForeign exchange departmentCentral officeForeign exchange managementAuthorised dealerRupee vostroSpecial rupee vostro accountsSpecial vostroUniform customsDocumentary creditsGeneral manager vivek srivastava