Question
Which of the following Russian bank launches direct
payments in rupees in what would boost bilateral trade and investments in a big way in January 2023?Solution
Russian VTB bank, Russia’s second largest bank, launches direct payments in rupees in what would boost bilateral trade and investments in a big way. Russian SME clients can now make transfers without double conversion, which simplifies the work on foreign trade contracts with India. The mechanism of direct settlements allows to fix the price of a product and the payment in the national currency, and to receive individual quotes on market terms.It also eliminates preliminary coordination of the transactions. Learn Along: VTB Bank Headquarters: Moscow, Russia CEO: Andrey Kostin
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