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    Question

    Which of the following Russian bank launches direct

    payments in rupees in what would boost bilateral trade and investments in a big way in January 2023?
    A STB Bank Correct Answer Incorrect Answer
    B VTB Bank Correct Answer Incorrect Answer
    C Sberbank Correct Answer Incorrect Answer
    D Gazprombank Correct Answer Incorrect Answer
    E Alfa-Bank Correct Answer Incorrect Answer

    Solution

    Russian VTB bank, Russia’s second largest bank, launches direct payments in rupees in what would boost bilateral trade and investments in a big way. Russian SME clients can now make transfers without double conversion, which simplifies the work on foreign trade contracts with India. The mechanism of direct settlements allows to fix the price of a product and the payment in the national currency, and to receive individual quotes on market terms.It also eliminates preliminary coordination of the transactions. Learn Along: VTB Bank Headquarters: Moscow, Russia                   CEO: Andrey Kostin

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