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RBI Seeks Lifting Cap on 'Vostro' Account Investments
Business Standard
|May 03, 2025
The Reserve Bank of India has sought the government's approval to remove the cap on foreign banks with so-called vostro accounts buying short-term sovereign debt, to boost rupee-denominated investment and trade, according to two sources and a letter seen by Reuters.
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Vostro accounts are typically held by a domestic bank on behalf of a foreign bank in which trading partners can hold rupee-denominated balances emerging from trade transactions.
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