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flag RBI seeks government approval to lift cap on foreign banks' use of vostro accounts for buying Indian debt.

flag 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. flag Vostro accounts let foreign banks hold rupee balances for trade. flag The RBI wants this change to boost rupee investments and trade, and to help make the rupee more widely used internationally. flag The government must approve the change.

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