BANKING

The Reserve Bank of India (RBI) on Monday allowed HDFC Bank Ltd and Canara Bank Ltd to open a special "vostro account" for trade in Rupees with Russia, according to media reports. Vostro accounts are accounts a bank holds on behalf of another, often foreign bank, and this forms a key part of correspondent banking.

from Banking/Finance-Industry-Economic Times https://ift.tt/HBlKZ7d
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