Sberbank Given Permission To Open Client Rupee Accounts In New Delhi
Russia’s Sberbank has received permission from the Reserve Bank of India for Russian clients in India to open Rupee accounts, Anatoly Popov, deputy chairman of Sberbank’s executive board has stated.
“The presence of these accounts is designed to increase the convenience of servicing Russian customers, including banks that plan to conduct transactions in this currency. This is another important step in building a reliable and convenient system of settlements between the countries by Sberbank, the main provider of ruble-rupee settlements,” Popov said.
Sberbank and VTB each have one branch in India, in New Delhi.
The agreement means that Russian businesses operating or wishing to operate in India can have access to Indian rupees to allow them to operate under normal local conditions.
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We also provide financial and sanctions compliance services to foreign companies wishing to access Russia. Additionally, we offer market research and advisory services to foreign exporters interested in accessing Russia as the economy looks to replace Western-sourced products. For assistance, please email firstname.lastname@example.org or visit www.dezshira.com