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cross-border payments: From Russian funds with love: Plan mooted to tap rupee balance in special accounts

Russian financial institutions have been negotiating with the Reserve Bank of India (RBI) to use the rupees in special accounts in India for investment in stocks and securities. Currently, 10 Russian institutions, including its largest lender, have registered as foreign portfolio investors (FPIs) with Sebi. However, they have made little investments due to US sanctions in the wake of Russia s war with Ukraine.

Siddharth shahKhaitan coCan russianReserve bankCross border paymentsRussian fundsRupee balanceTrade balance poolReserve bank of indiaUs sanctionsVostro accountsIndian exchanges

The Difficult Realities of the BRICS Dedollarization Efforts—and the Renminbi s Role - Carnegie Endowment for International Peace

The Difficult Realities of the BRICS Dedollarization Efforts—and the Renminbi s Role - Carnegie Endowment for International Peace
carnegieendowment.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from carnegieendowment.org Daily Mail and Mail on Sunday newspapers.

Carnegie endowment for international peaceDistrict of columbiaUnited statesSaudi arabiaHong kongAr riyaBanco centralNorth west frontierUnited arab emiratesSouth africaUnited kingdomWorld bankSouth africanRonojoy mazumdarThomas nilssonDuncan miriri

Russian exporters stuck with $8 bn in local Vostro accounts

Some of the Russian money is invested in Indian securities, but most of it remains in Vostro accounts due to a lack of investment opportunities in India for Russians and continued volatility in exchange rates

Venkatakrishnan srinivasanAjay sahaiRockfort fincap llpFederation of indian export organisationsCanara bankSociety for worldwide interbank financial telecommunicationAxis bankPunjab national bankReserve bankWorldwide interbank financial telecommunicationIndian export organisationsState bankYes bankVostro accountsForeign banksTreasury bills

India exploring trade in local currencies with Tanzania

India and Tanzania have a bilateral trade of $6.4 billion. Tanzania majorly imports spices, cashew nuts, avocado and pigeon peas, among other agri products from India.

Droupadi murmuDammu raviSamia suluhu hassanDevelopment partnershipStrategic partnershipMinistry of external affairs onIndia indian central bankEconomic relationsExternal affairsReserve bankIndian central bankTanzanian shillingSpecial rupee vostro accountsPresident droupadi murmuPresident samia suluhu hassanPresident hassan

Remittances received in Vostro account to qualify as export of services, ending disputes on GST refunds

Remittances received in Vostro account to qualify as export of services, ending disputes on GST refunds
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

Karthik maniSanjay chhabriaAbhishek jainDivakar vijayasarathySaurabh agarwalRuppe vostro accountsVostro accountsSpecial rupee vostroTax partnerIndirect taxIntegrated taxSpecial economic zone