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In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, RBI put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR. Before putting in place this mechanism, AD banks shall require prior approval from the Foreign Exchange Department of Reserve Bank of India. In terms of Regulation 7(1) of Foreign Exchange Management (Deposit) Regulations, 2016, AD banks in India have been permitted to open Special Rupee Vostro Accounts. Accordingly, for settlement of trade transactions with any country, AD bank in India may open Special Rupee Vostro Accounts of correspondent bank/s of the partner trading country. The settlement through Indian Rupees (INR) is an additional arrangement to the existing system that uses freely convertible currencies and will work as a complimentary system. This will reduce dependence on hard (freely convertible) currency. Banks will need to take prior approval from RBI before opening a Special Rupee vostro account, unlike Rupee Vostro account.
Time taken by a boat to cover 253 km upstream is 49.99 % more than the time taken by the boat to cover 340 km downstream. Total time taken in covering b...
A Passenger boat started its journey from point A to B .After sometime when it is 156 km away from point B it is started to get sinking and passengers...
A boy can swim a certain distance downstream in 4 hours and return in 7 hours. If the rate of stream is 6 kmph then what is the speed of boy in still wa...
A boat goes 40 km in upstream in 5 hours and takes 3 hours to complete a distance of 18 km in downstream. Find the speed of boat in still water.
A man rows a certain distance downstream in 5 hours and back to the same point in 8 hours. If the speed of the stream is 4.5 km/hr then what is the spee...
A boat can row downstream at 24 km and upstream 16 km in 8 hours. Then what is the velocity of the current ?
Speed of boat is 20 km/hr. Speed of the stream is 15% less than speed of boat. Then find time taken by boat to go 74 km downstream?
The speed of the stream is 12 km/h. Boat ‘A’ covers 160 km distance against the stream in 8 hours and boat ‘B’ covers 84 km distance against the...
The speed of the current is 80% lower than the boat's speed in still water. The boat covers 120 km in still water in 8 hours. How long will it take for ...
