“Concerning the news distributed by the media today about SBI being recognized as the nodal bank for taking care of Russia-related exchanges, SBI might want to explain that RBI through its roundabout on July 11, 2022, has approved every one of the banks in India, including the State Bank of India, to open Exceptional Rupee Vostro record to advance invoicing in Indian Rupee.
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In like manner, SBI is making fundamental courses of action and handling demands got from different banks, including Russian banks, appropriately observing RBI rules and our strategies and systems. SBI, in that capacity, has not been distinguished as a nodal bank,” the assertion by SBI read.
