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State Bank of India to begin overseas rupee trade with smaller nations

20 Dec, 2022

State Bank India (SBI) will start overseas?trade?in?rupee?with smaller countries like Mauritius and Sri Lanka to steer clear of any transactions with Russia which carries the risk of sanctions by the West.

“As far as rupee trade with smaller nations is concerned, the RBI has allowed opening of six special vostro accounts with three Indian lenders” ? SBI, Bank of Ceylon and Indian Bank. -(BusinessStandard)

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