Rupee goes global: RBI clears the way for faster trade deals

Rupee goes global: RBI clears the way for faster trade deals

RBI has simplified the process for foreign banks to open Special Rupee Vostro Accounts, aiming to boost use of Indian rupee in global trade

RBI allows non-residents to invest rupee surplus in vostro accounts in G-secs

Mumbai, Aug 12 (PTI) The Reserve Bank of India (RBI) on Tuesday said non-residents maintaining special rupee vostro accounts (SRVA) can invest surplus balances in central government securities (G-secs). "Persons resident outside India that maintain a SRVA for international trade settlement in Indian Rupees -- may invest their rupee surplus balance in the aforesaid account in central government securities (including Treasury Bills)," the central …