Banks told to have nodal officers to assist trade settlement in Rupee

"The government wants that banks proactively encourage traders to use this mechanism, and ensure their departments concerned are fully aware of the framework," said a senior executive of a bank who is aware of the development. According to the executive, banks have already had discussions with their counterparts from Russia, Cuba, Luxembourg, Sudan, and Tajikistan.

from Banking/Finance-Industry-Economic Times https://ift.tt/Jzibp1Z