01-01-1970 12:00 AM | Source: Reuters
India`s central bank approves 12 `vostro` accounts for rupee trade - official
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India's central bank has given approval to banks to open 12 special "vostro accounts" for trade in rupees with trading partners, its Executive Director Deepak Kumar said on Friday.
Vostro accounts are held by a bank on behalf of another, often foreign bank, and are a key part of correspondent banking.
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