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.
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.
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
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.
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.