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The Reserve Bank of India (RBI) has given approval for India and Tanzania to use their national currencies for bilateral trade settlement. The use of national currencies in bilateral trade settlements is expected to reduce the cost of transactions and enhance the efficiency of cross-border trade. This, in turn, will lead to increased trade volumes and greater economic cooperation between India and Tanzania. Under this mechanism, authorised banks in India will open Special Rupee Vostro Accounts (SRVAs) of correspondent banks of Tanzania. Tanzanian banks will have to open Special Rupee Vostro Accounts in India by approaching authorised Indian banks.
India has recently achieved an “outstanding outcome” in the 2023-24 Mutual Evaluation Report by the Financial Action Task Force (FATF). According to...
The Mumbai-based realtor Suraksha Realty is acquiring Jaypee Infratech for a consideration of _____.
Consider the following statements regarding the penalties imposed by RBI on certain banks-
I.The Reserve Bank has imposed a Rs 50 lakh penalty on...
The Reserve Bank of India (RBI) recently introduced a revised SAARC Currency Swap framework for 2024-27. What is the worth of the separate Indian Rupee ...
Which fundamental right allows Indian citizens to reside and settle in any part of the country?
The Securities and Exchange Board of India (Sebi) has issued steps to simplify the requirements for registering as an ‘Accredited Investor’ along wi...
What is the total prize money for the Hockey India League (HIL) 2024-25 edition?
Who has been appointed as the new Managing Director and CEO of Kia India, succeeding Kook Hyun Shim and Tae Jin Park?
A new species of litter-dwelling jumping spider, ‘Habrocestum swaminathan,’ was recently discovered in which state?
Which of the following statements is/are not correct in regards to budget 2023-24?
1. ‘Bharat Shared Repository of Inscriptions’ to be ...