Question
Which of the following public sector bank announced to
work with Russian banks to open a special rupee vostro account (SRVA) for invoicing in Indian currency?Solution
Vostro Account- State Bank of India (SBI) is willing to work with Russian banks to open a special rupee vostro account (SRVA) for invoicing in Indian currency. SBI would not be dealing with many Russian banks and entities facing sanctions since it has a large presence in developed markets that have imposed sanctions on Russia.
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