The Reserve Bank of India has asked banks to expedite cross-border payments. In guidelines issued today, the RBI stated that it has observed that several banks rely on end-of-day statements of the nostro account to confirm and reconcile receipts in the nostro accounts, resulting in a delay in...
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Mumbai, February 17 The Reserve Bank proposed greater flexibility for authorized persons to engage in foreign exchange transactions for hedging their exposures, managing their balance sheets, and facilitating market-making, as well as to ease reporting requirements, following a review of the...