RBI nod to 34 applications from Russian banks to open accounts: Govt to Parl
The Reserve Bank of India (RBI) has approved 34 applications from different Russian banks for opening special rupee vostro accounts in 14 Indian commercial lenders as of July 2, Parliament was informed on Wednesday. India's trade with Russia has been affected by difficulties in payment due to western countries' sanctions on major Russian banks, Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Lok Sabha.
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