Indian Bank to hold vostro A/cs of 3 Sri Lankan banks

The INR vostro facility is part of a special trade settlement mechanism which was finalized by the Reserve Bank of India (RBI) in July 2022. The arrangement allows Indian importers to deposit rupees in vostro accounts that overseas banks open with banks in India and clearing of dues to Indian exporters from the surplus balances in the vostro accounts.

from Banking/Finance-Industry-Economic Times https://ift.tt/S6xLoRD