SBI declines to be a nodal bank for Russia-related transactions

State Bank of India, which is one of the biggest corporate lender says it has not been identified as a nodal bank for handling Russia-related transactions

State bank of India clarified that some of the media houses are calling them Nodal, but it's not true

In this News, SBI said that All the banks are instructed to follow a specific guidelines related to transactions fromRussia

RBI through circular on July 11, 2022 instructed to open Special Rupee Vostro account to promote invoicing in Indian Rupee

SBI is working on necessary conditions and steps following RBI rules to allow transaction from different banks, including Russian banks 

(FIEO) president A Shaktivel told that we could possibly deal with Russia in rupee as SBI is working on some arrangements.


Follow us on

Wealth Baba