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Interest rates nearly peaked, may go up by another 25 bps: UCO Bank CEO

Soma Sankara Prasad, managing director and chief executive officer of the Kolkata-based lender in an interview that he expects strong interest for the rupee trade from several nations

Soma Sankara Prasad, BFSI Summit, MD & CEO, Uco Bank
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Soma Sankara Prasad, MD & CEO, UCO Bank

Manojit Saha
UCO Bank was the first lender to have received the Reserve Bank of India’s approval to open a special Vostro account for trade in rupee. Soma Sankara Prasad, managing director and chief executive officer of the Kolkata-based lender, tells Manojit Saha in an interview that he expects strong interest for the rupee trade from several nations. Excerpts:     

UCO Bank has received RBI’s approval to open special Vostro accounts for INR trade. Has any transaction taken place yet?  
 
This is a mechanism the Reserve Bank of India (RBI) put in place to internationalise the rupee. This mechanism is country-agnostic.

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