RBI allowS 30 countries to open 156 vostro accounts with Indian banks for cross-border rupee trade

The RBI has allowed 30 countries to open 156 Vostro accounts with Indian banks for cross-border rupee trade. This move promotes the use of the Indian rupee in international transactions and facilitates trade with partner nations. It simplifies the process of settling payments in rupees and reduces reliance on other currencies. This initiative strengthens India's economic ties with these countries.