A deposit in Indian rupees (INR) appeared on the Russian banking market for the first time after deposits in dirhams. newspaper reports “Kommersant”.
st. A time deposit in Indian rupees was launched on April 19 by the St. Petersburg Social Trade Bank (PSCB). The minimum deposit amount for companies is INR 100 thousand for companies, and INR 10 thousand for individuals. The deposit term is up to 90 days and the rate is 3% per annum.
According to the newspaper, PSCB started working with Indian currency in 2016 and became one of the first companies to open a direct correspondent account in it in 2022. Vladimir Pribytkin, chairman of the board of directors of the credit institution, emphasized that India is loyal to Russia, the growth of trade turnover in rupees, which is noticeable in the dynamics of client activity.
According to him, against the background of the growing volume of trade between Russia and India, citizens have accumulated this currency in rupees, so the bank does not yet act on the fact that new deposits are a profitable commercial offer, but it is necessary to promote it. maintaining balances in this currency.
Emphasizing that to make such a contribution you need to have a large number of customers working with India, he added that PSCB customers are representatives of medium-sized enterprises involved in the production of pharmaceuticals, food and other things.
As the interlocutor of the publication emphasized in the foreign exchange market, he considers that the Indian rupee is not a freely convertible currency and the possibility of lending in it is not open.
former Central Bank elongated Withdrawal restrictions until September 9.
Source: Gazeta
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