US EditionRBI Update - International Trade Settlement in Indian Rupees (INR). Applicable - All Category-I Authorised Dealer Banks - Mehta & Mehta
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The crisis that blocked international trade! It all started from Trump. For companies that depend on South-East Asia's imports, such as Luxor, the context in which Donald Trump published the announcement was disastrous. The coincidence with Eid – the celebration that marked the end of Ramadan – has left the regional network logistically paralyzed. The initial attempts of Luxor [...]
Mumbai: In a significant move aimed at further facilitating trading in Indian rupee, the Reserve Bank of India (RBI) has simplified the process for opening Special Rupee Vostro Accounts (SRVA).According to the revised guidelines issued by the central bank on Tuesday, authorised dealer (AD) banks will no longer be required to seek prior approval from the central bank for opening correspondent SRVAs of foreign banks.This latest move comes after a …
RBI Update - International Trade Settlement in Indian Rupees (INR). Applicable - All Category-I Authorised Dealer Banks - Mehta & Mehta
Please find the following update under RBI It has been decided to allow AD banks to open Special Rupee Vostro Accounts (SRVAs) of overseas correspondent banks without referring to the Reserve Bank for approval. It is applicable with immediate effect. Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12887&Mode=0 The post RBI Update – International Trade Settlement in Indian Rupees (INR). Applicable – All Category-I Authorised Deal…
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