VTB started opening accounts in Indian rupees for retail clients
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VTB retail customers can open accounts and conduct exchange transactions in Indian rupees, said Anatoly Pechatnikov, Deputy President and Chairman of the Board of VTB. He clarified that the bank’s retail clients can transfer money abroad to 11 countries, by the end of the year it is planned to increase the number of available directions to 30 countries.
“Having customers access to Rs will allow the bank to take the next step in customer service and launch transfers to India. The scenario of cross-border transactions in Indian rupees will be identical to the current operations with details in national currencies,” Mr. Pechatnikov said in an interview with Rossiya 24.
According to him, the launch of international transfers in “soft” currencies allowed VTB to strengthen its integration with the financial markets of friendly countries. Since the beginning of the year, VTB retail clients have made more than 110 thousand transfers abroad, which is 3.5 times more than in the same period in 2022. The average transfer receipt decreased by more than 2 times, to 100 thousand rubles. According to VTB forecasts, in 2023, customers will make about 250,000 transfers abroad.
VTB in December 2022 launched direct settlements in rupees for small and medium businesses. In June 2023, Otkritie Bank launched for business direct payments in Indian rupees. In the same month, outgoing transfers in rupees became available to Tinkoff Bank customers.
Details – in the material “Kommersant” “Walking the rupee across the three seas”.
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