Highlights

  • Reports: The RBI is also likely to come up with a plan soon, and has collected information from Indian banks
  • Direct trade with Russia would reduce cost on commodities for India

Latest news

Australia all out for 152 as England take charge of 4th Ashes Test

Australia all out for 152 as England take charge of 4th Ashes Test

Delhi air quality slips to ‘very poor’ with AQI at 310

Delhi air quality slips to ‘very poor’ with AQI at 310

Railway Ministry notifies fare hike; new ticket prices come into effect today

Railway Ministry notifies fare hike; new ticket prices come into effect today

Indian student shot dead near University of Toronto campus

Indian student shot dead near University of Toronto campus

Another Hindu man lynched in Bangladesh over alleged extortion, government denies communal angle

Another Hindu man lynched in Bangladesh over alleged extortion, government denies communal angle

US launches Christmas Day strikes on IS targets in Nigeria

US launches Christmas Day strikes on IS targets in Nigeria

Nitin Gadkari reveals how he met Hamas chief Ismail Haniyeh hours before assassination in Tehran

Nitin Gadkari reveals how he met Hamas chief Ismail Haniyeh hours before assassination in Tehran

BNP acting chairman Tarique Rahman returns to Dhaka after 17 years in exile

BNP acting chairman Tarique Rahman returns to Dhaka after 17 years in exile

India to bypass sanctions on Russia? Rupee to Ruble trade likely

The government may soon give the green light to bilateral trade between Russia and India

India to bypass sanctions on Russia? Rupee to Ruble trade likely

India may be taking a step forward towards Putin as reports indicate the govt is working on a bilateral trade system with Russia that will bypass the sanctions.

Also read/watch | Bitcoin in war: U.S. to impose sanctions on cryptocurrencies?

Reports indicate that the government may soon give the green light to bilateral trade between Moscow and New Delhi to be conducted directly in Ruble-Rupee. This would bypasses the ban Russia is facing fromthe international payments system SWIFT.

Also read/watch | EJ Explains: Why in the Russia-Ukraine war, economic sanctions may not work

“The finance ministry and the RBI will take a call on how to peg the two currencies,” a senior government official told Business Standard .

Also read/watch | Russia Ukraine Crisis: How Bitcoin and other crypto becoming critical in the war

ADVERTISEMENT

Up Next

India to bypass sanctions on Russia? Rupee to Ruble trade likely

India to bypass sanctions on Russia? Rupee to Ruble trade likely

New Zealand commits USD 20 bn investment in India under FTA in 15 yrs; on lines of EFTA pact

New Zealand commits USD 20 bn investment in India under FTA in 15 yrs; on lines of EFTA pact

India, New Zealand conclude FTA talks; pact to offer duty-free access, USD 20 bn FDI

India, New Zealand conclude FTA talks; pact to offer duty-free access, USD 20 bn FDI

FTA with New Zealand to significantly deepen bilateral economic engagement: Govt

FTA with New Zealand to significantly deepen bilateral economic engagement: Govt

Rupee breaches 91-mark against US dollar for first time in intra-day trade

Rupee breaches 91-mark against US dollar for first time in intra-day trade

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella

ADVERTISEMENT

editorji-whatsApp

More videos

CBI books Anil Ambani's son, Reliance Home Finance Ltd. in Rs 228 crore bank fraud case

CBI books Anil Ambani's son, Reliance Home Finance Ltd. in Rs 228 crore bank fraud case

RBI raises FY26 GDP growth projection to 7.3 pc

RBI raises FY26 GDP growth projection to 7.3 pc

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper

Rupee slumps to all-time low of 90.25 against US dollar in intra-day trade

Rupee slumps to all-time low of 90.25 against US dollar in intra-day trade

Reliance completes merger of Star Television Productions with Jiostar

Reliance completes merger of Star Television Productions with Jiostar

India to lead emerging market growth with 7pc GDP rise in 2025: Moody’s

India to lead emerging market growth with 7pc GDP rise in 2025: Moody’s

Nifty hits record high after 14 months; Sensex nears all-time peak

Nifty hits record high after 14 months; Sensex nears all-time peak

Reliance stops Russian oil use at its only-for-export refinery to comply with EU sanctions

Reliance stops Russian oil use at its only-for-export refinery to comply with EU sanctions

ED attaches fresh assets worth over Rs 1,400 cr in case against Anil Ambani's Reliance Group

ED attaches fresh assets worth over Rs 1,400 cr in case against Anil Ambani's Reliance Group

India signs one-year deal to import 2.2 million tonnes of LPG from US

India signs one-year deal to import 2.2 million tonnes of LPG from US

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.