22 countries opened special bank accounts in India to trade in Rupee: Minister

New Delhi [India], July 21 (ANI): Banks from 22 countries have opened special Rupee vostro accounts in Indian banks in order to trade in local currency as part of gradual de-dollarisation plans, the Parliament was informed on Friday.

Simply put, vostro accounts enable domestic banks to provide international banking services clients who have global banking needs.

In a written reply in Lok Sabha, Union Minist