Bank of Ceylon, SBI, Indian Bank talk benefit of rupee trade in Colombo

The Bank of Ceylon, State Bank of India (SBI), and Indian Bank talked about the benefit of rupee trade in Colombo.

The High Commissioner of India to Sri Lanka had organised a discussion on the use of the Indian Rupee for transactions between India and Sri Lanka on Thursday.

Meanwhile, India's policy of facilitating trade in rupee is gaining momentum with the total number of special rupee vostro accounts touching half a century mark in about six months.

Following the Russia-Ukraine war and the sanctions imposed by the West, India has been trying to promote rupee trade.