- Two Russian banks have opened a special Vostro account following permission from the Reserve Bank of India to facilitate overseas trade in rupees.
- Sberbank and VTB Bank — the largest and second-largest banks of Russia — are the first foreign lenders to receive this approval after the RBI announced the guidelines on overseas trade in the rupee in July.
- These banks have opened special Vostro accounts in their respective branches in Delhi, sources said.