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A Vostro account is defined as an account that a correspondent bank holds on behalf of another bank. Vostro is a Latin word that means “your”, therefore, a vostro account implies that it is “your account”. An example of such an account would be HSBC vostro account is held by SBI in India. Vostro and Nostro accounts are often confused to be the same. While in essence, it is the same account that is being spoken about, the perspective from which it is being seen matters. In a vostro account, it is the correspondent foreign bank point of view, whereas in a nostro account, it is the point of view of the domestic bank. Vostro accounts are maintained in the domestic currency whereas, nostro accounts in foreign currency. A Loro account is a current account that is maintained by one domestic bank for another domestic bank in the form of a third-party account, unlike nostro and vostro which is bilateral correspondence.
Central Depository Services Limited is promoted by which of the following:
The Indian Ocean Rim Association (IORA) was first established in which of the following country?
Consider the following statements regarding North East Special Infrastructure Development Scheme (NESIDS)
The Rabha ethnic group primarily resides in which Indian state?
Ustad Amjad Ali Khan is famous for playing which musical instrument?
Which amongst the following nations is not a member of the G-8 ?
"Taare Zameen Par" movie is based on which learning disorder?
Of the following which is NOT correct about International Court of Justice?
1) It is a judicial branch of the United Nations (UN)
2) It wa...
In which Indian state is the Tatipaka Oil Refinery located?
Kavita Devi is related to which of the following sports?