Swift

The pilot will enable participating banks to support round-the-clock cross-border payments using tokenised deposits while settling transactions through existing payment systems

The global messaging network said 17 banks, including HSBC, Citigroup, BNY Mellon, Standard Chartered and UBS, will pilot live cross-border transactions using tokenised deposits

Bank completes cross-border payment from Australia in 37 seconds under Swift's new retail payments scheme, enabling near real-time credit to beneficiary bank

India has reacted strongly to recent remarks from Bangladesh foreign minister Khalilur Rahman following the BJP’s victory in West Bengal elections.

SBI, HDFC Bank, ICICI Bank, and Axis Bank are the Indian banks who have supported the new framework

On November 11, Maruti Suzuki unveiled the brand-new Dzire, which starts at Rs 6.79 lakh (ex-showroom Delhi). The car will be available in four variants: LXi, VXi, ZXi, and ZXi Plus

Central Bank Digital Currencies (CBDCs), digital versions of a country's official fiat currency, are also being trialled worldwide

Prime Minister Modi and Russian President Putin are set to hold key bilateral talks in Moscow today to discuss a wide range of issues as part of the 22nd India-Russia annual summit

The new Maruti Suzuki Swift is all set to release in India on May 9. The Swift offers a brand-new engine which is powered by a 1.2-litre Z series 3-cylinder petrol engine

Current practices involve routing funds through banks using the Swift platform. CBDCs could enable direct settlements between parties, offering advantages such as speed and cost-efficiency

SWIFT allows global financial institutions to communicate with each other using a messaging network that is quick, accurate, and secure

The West blocked several Russian banks' access to the international SWIFT payments system soon after Moscow invaded Ukraine in February last year

The shift comes after the Federal Deposit Insurance Corporation warned of crypto-asset risks

The tool is available as an Android app and as a website

The RBI has allowed two Russian banks, Sberbank and JSC VTB, to open Vostro accounts for rupee trade. Read more to find out what a Vostro account is and how it is different from a Nostro account

India has stepped up its purchase of cheaper Russian crude despite international opposition and sanctions. New Delhi is looking to settle this trade in rupees to continue with its purchases

If the messaging platforms of India and Russia are connected, it might help in improving the payments settlement mechanism and provide Russia with a cover from further sanctions

Countries to accept trading partners' currency; move aimed at reducing dollar dependence

The first stock market came up in Amsterdam in the 17th century. And the modern banking system evolved in Italy. The terms, Nostro and Vostro, came from that region. But what do they mean?

The country's largest carmaker Maruti Suzuki India (MSI) on Friday reported a 2 per cent rise in total wholesales to 1,70,395 units in March.