Indian banks massively refuse to open accounts to Russian credit organizations for transactions in rupees and rubles, writes Economic Times.
The sources of the publication claim that organizations are afraid to work with Moscow, as they can fall under secondary sanctions.
“Banks with a significant international business doubt, and many private banks have listing on American exchanges. And banks already have many problems, and for them it can become another headache,” said an unnamed source.
In July, the Central Bank of India introduced relief in the regulation of foreign exchange operations. On September 7, Indian bankers were summoned to a meeting in the Central Bank to discuss obstacles to the transition to the operations in the national currency. But private banks, among which the largest number of “refuseniks”, were sent to the meeting of younger top managers. Thus, they showed a lack of interest in the topic.