CURRENT AFFAIRS : BANKING & FINANCE
RBI allows India & Tanzania to use national currencies for trading
- The Reserve Bank of India (RBI) has approved for India and Tanzania to use their national currencies Ie, Indian Rupee (INR) & Tanzanian Shilling (Tsh) for bilateral trade settlement.
- Under this mechanism, authorised banks in India will open Special Rupee Vostro Accounts (SRVAs) of correspondent banks of Tanzania.
