📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Which bank has become the first lender to get RBI's

    approval for rupee trade?
    A Axis Bank Correct Answer Incorrect Answer
    B HDFC Bank Correct Answer Incorrect Answer
    C Union Bank of India Correct Answer Incorrect Answer
    D UCO Bank Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Public sector lender UCO Bank has received the Reserve Bank of India’s (RBI’s) approval to open a special vostro account with Gazprombank of Russia for trade settlement in Indian rupees. The Kolkata-based lender is the first bank to receive regulator’s approval following the RBI’s decision to allow Indian banks to settle trade in Indian currency in July.

    Practice Next
    More Beepedia Questions

    Relevant for Exams:

    ask-question