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HDFC Bank and Canara Bank have got approval from the Reserve Bank of India (RBI) to open a special Vostro account for trade in rupees and both the approvals are for trade with Russia. So far five Indian banks — UCO Bank, Union Bank, and IndusInd Bank being the other three have received regulatory clearance for such trade. Aprt from these banks, two Russian banks — Sber Bank and VTB have also received RBI’s approval to have branches in India.
Which global financial institutions will provide sovereign guarantees for ADB’s climate-related lending?
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