2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As of 2023, banks from how many countries were permitted by the Reserve Bank of India to trade in rupees?
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12
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15
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18
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21
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Explanation:
Detailed explanation-1: -UPSC Mains. Q. As of 2023, banks from how many countries were permitted by the Reserve Bank of India to trade in rupees? Notes: The Reserve Bank of India (RBI) has permitted banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) to settle payments in rupees.
Detailed explanation-2: -These 18 nations include Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda and the United Kingdom.
Detailed explanation-3: -The Ministry of External Affairs declared that trade between India and Malaysia can now be conducted using the Indian Rupee (INR) as a mode of settlement, in addition to other currencies.
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