News Karnataka
Monday, October 03 2022
Business News

SBI says it’s not a nodal bank for Russia-related transactions

Photo Credit : IANS

New Delhi: The country’s largest lender, State Bank of India (SBI) on Thursday clarified that it has not been identified as a nodal bank for handling Russia-related transactions.

The clarification by the bank came in response to reports in certain sections of media that it had been identified as nodal bank for looking after Russia-related transactions.

“Concerning the news published by the media today about SBI being identified as the nodal bank for handling Russia-related transactions, SBI would like to clarify that RBI through its circular on July 11, 2022, has authorised all the banks in India, including the State Bank of India, to open Special Rupee Vostro account to promote invoicing in Indian Rupee. Accordingly, SBI is making necessary arrangements and processing requests received from various banks, including Russian banks, duly following RBI guidelines and our policies and procedures. SBI, as such, has not been identified as a nodal bank,” the statement by SBI read.

Read more:

Now get SBI account info on WhatsApp

SBI assures support to kin of Bank Manager shot dead in J&K

Rs 10 of every Rs 100 from Indians is for LIC, now larger than SBI deposits

Digital banking push turned into pull factor: former SBI Chairman

Do not respond to emails/SMS asking for personal information: SBI

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published.

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp