Investments of some Russian funds in select securities that were permitted in a specific way are said to have reduced over a period of time indicating that funds are moving out of such securities, mostly short-term Treasury Bills, said market traders.
Certain tax authorities have been citing Reserve Bank of India provisions to refuse input tax credit to exporters when they receive INR in Special Vostro accounts, in line with the rupee trade settlement mechanism.
India has been looking to encourage the use of the Rupee to settle international trade transactions. However, progress has been slow, with the government and the Reserve Bank of India treading carefully to ensure there aren t any unintended consequences
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THE Reserve Bank of India (RBI) has cleared the way for trade between India and Tanzania using local currencies. In this historic arrangement, RBI allows th .