RBI Pushes for Removal of ‘Vostro’ Account Cap to Boost Rupee-Denominated Trade
02 May 2025
India's central bank, the Reserve Bank of India (RBI), has asked the government to raise the cap on foreign banks making use of "vostro" accounts to purchase short-term sovereign debt. This would enhance rupee-denominated trade and investment, two sources and a letter to Reuters said. Local banks hold vostro accounts...
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