VOSTRO ACCOUNT

Running prime minister special effort for running Indian currency at international market smoothly... That's RBI's VOSTRO ACCOUNT...

नोस्ट्रो और वोस्ट्रो ( इटालियन , नोस्ट्रो और वोस्ट्रो से; अंग्रेजी, 'हमारा' और 'तुम्हारा') लेखांकन शब्द हैं जिनका उपयोग किसी अन्य इकाई के लिए रखे गए बैंक खाते को किसी अन्य इकाई के बैंक खाते से अलग करने के लिए किया जाता है।

नोस्ट्रो हमारे पैसे का खाता है (आप किस देश में रह रहे हैं), जो दूसरे बैंक या "विदेशी बैंक" द्वारा रखा जाता है ।

वोस्ट्रो दूसरे बैंक / "विदेशी बैंक" के पैसे का हमारा खाता है , जो हमारे पास होता है (आपके देश के बैंक द्वारा)

वोस्ट्रो खाता किसी बैंक द्वारा रखे गए या किसी तीसरे पक्ष (एक व्यक्ति, कंपनी या बैंक) द्वारा बैंक को दिए गए धन का रिकॉर्ड है ।

So many people wrote for Indian prime minister Modi but what they actually did for increasing Indian economy or what he did for actually increasing level of Indian currency at international market, is not written by anyone probably, but I must try my level best for RBI's FOREX department along with RBI actions for increasing Indian rupees currency at international level few are as under:

While BRICS summits they decide to make international transactions of Indian currency...

First they're made high forex reserves funds.. few utilised for business too from forex reserves..

Best Example is petrolium business with Russia and made GDP higher for election time quarter..

PRIOR they started to open VOSTRO ACCOUNT of RBI based EXIM policy.. and then started to make Indian currency rupee as international money transaction type money through the same VOSTRO ACCOUNT of RBI...

Made agreement to different countries for setelite linked based configuration support system within same VOSTRO ACCOUNT..

When rotation started Made open catagory based free zones for tourism and Made transaction in rupees..

In 2022, the RBI and the finance ministry instructed senior management of banks and trade bodies to promote import and export transactions in Indian rupees. 

As of July 2023, 20 banks in India have opened 92 Vostro accounts with partner banks from 22 countries, including Russia and UK.

A Reserve Bank of India (RBI) Vostro account is a special rupee account that an authorized Indian bank opens and maintains for a partner trading country's bank. The account keeps the foreign bank's holdings in the Indian counterpart in rupees. When an Indian trader wants to make a payment to a foreign trader in rupees, the amount is credited to the Vostro account. In the reverse scenario, the amount is deducted from the Vostro account and credited to the person's regular account.

A Vostro account is also an account that a correspondent bank holds on behalf of another bank. The word vostro is Latin for "your". For example, HSBC has a Vostro account held by SBI in India. 

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Jay Gurudev Dattatreya

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