2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which bank has allowed banks from 18 countries to open special vostro rupee accounts (SVRAs) for settling payments in Indian rupees?
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BOB
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RBI
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HDFC
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ICICI
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Explanation:
Detailed explanation-1: -Banks from 18 countries have been permitted by the Reserve Bank of India (RBI) to open Special Vostro Rupee Accounts (SVRAs) for settling payments in Indian rupees, the government told the Rajya Sabha on Tuesday.
Detailed explanation-2: -The central bank, RBI, has allowed 18 countries which include Germany, Kenya, Sri Lanka, Singapore, UK and many other countries to transact in Rupee. Indian Rupee is now going global as 18 countries have agreed to trade in Rupee.
Detailed explanation-3: -Public sector lender, Union Bank of India becomes the first bank in the country to open a Special Rupee Vostro Account through its corresponding bank in Malaysia i.e. India International Bank of Malaysia.
There is 1 question to complete.