The Reserve Bank of India (RBI) has given approval for India and Tanzania to use their national currencies for bilateral trade settlement. The use of national currencies in bilateral trade settlements is expected to reduce the cost of transactions and enhance the efficiency of cross-border trade. This, in turn, will lead to increased trade volumes and greater economic cooperation between India and Tanzania. Under this mechanism, authorised banks in India will open Special Rupee Vostro Accounts (SRVAs) of correspondent banks of Tanzania. Tanzanian banks will have to open Special Rupee Vostro Accounts in India by approaching authorised Indian banks.
Which historical agreement did India and the United States sign on July 26, 2024, to prevent illicit trafficking of antiquities?
Nidhu Saxena's appointment as the MD & CEO of the Bank of Maharashtra is set for how many years?
The Government of India invited proposals for setting up Centres of Excellence (CoE) under which mission to accelerate green hydrogen research?
What is the estimated total foodgrain production in India for the year 2023-24?
The Reserve Bank of India (RBI) has issued a draft circular addressing the arrangements between card networks and card issuers when it comes to the iss...
The Leadership Group for Industry Transition (LeadIT) Summit of COP27 gathers countries and companies that are committed to action to achieve which of t...
What significant initiative was launched to promote 'Green Steel' in India?
What significant cultural event celebrating Odisha’s ancient maritime history began in November 2024?
What is the focus of the defence roadmap agreed upon by India and Italy?
Which bank has collaborated with Mahindra & Mahindra Financial Services to offer affordable solutions to the NBFCs customers that will harness the dis...
