Russia’s largest lender Sberbank is seeing demand from Russian corporations for credit score in Indian rupees, Anatoly Popov, deputy chairman of the financial institution’s government board, instructed reporters on the sidelines of an financial discussion board in St Petersburg.
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Russia’s financing wants in currencies just like the rupee and yuan have elevated considerably since Moscow despatched its troops to Ukraine in 2022 and the West imposed sweeping monetary sanctions in response.
“The financial institution is at all times fairly versatile when taking a look at financing points, together with in rupees,” Popov stated.
He stated the financial institution was already seeing demand for rupee credit score from Russian corporations planning to broaden their operations in India.
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