Question

So far how many indigenous banks 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?

A 2 Correct Answer Incorrect Answer
B 3 Correct Answer Incorrect Answer
C 4 Correct Answer Incorrect Answer
D 5 Correct Answer Incorrect Answer
E 6 Correct Answer Incorrect Answer

Solution

So far five Indian banks — UCO Bank, Union Bank, and IndusInd Bank being the other three — have received regulatory clearance for such trade. This apart, two Russian banks — Sber Bank and VTB — have the RBI’s approval. Both have branches in India.

Practice Next
×
×