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RBI seeks government approval to lift cap on foreign banks' use of vostro accounts for buying Indian debt.
The Reserve Bank of India (RBI) is asking the government to lift a cap on foreign banks' use of vostro accounts to buy short-term Indian government debt.
Vostro accounts let foreign banks hold rupee balances for trade.
The RBI wants this change to boost rupee investments and trade, and to help make the rupee more widely used internationally.
The government must approve the change.
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El RBI busca la aprobación del gobierno para levantar el límite al uso de las cuentas vostro por parte de los bancos extranjeros para comprar deuda india.