Swift
India using SWIFT payment system to settle dollar trade with Russia: Report
The West blocked several Russian banks' access to the international SWIFT payments system soon after Moscow invaded Ukraine in February last year
 "India using SWIFT payment system to settle dollar trade with Russia: Report")
Signature Bank pulls back from crypto transactions below $100,000: Binance
The shift comes after the Federal Deposit Insurance Corporation warned of crypto-asset risks
 "Signature Bank pulls back from crypto transactions below $100,000: Binance")
SwiftChat with Google introduces speech-based reading tool 'Read Along'
The tool is available as an Android app and as a website
 "SwiftChat with Google introduces speech-based reading tool 'Read Along'")
Rupee trade: Understanding difference between Nostro and Vostro accounts
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
 "Rupee trade: Understanding difference between Nostro and Vostro accounts")
Banks seek clarity on 'grey areas' from RBI on Rupee Vostro accounts
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
 "Banks seek clarity on 'grey areas' from RBI on Rupee Vostro accounts")
Russia wants payment messaging system to align, but Indian banks wary
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
 "Russia wants payment messaging system to align, but Indian banks wary")
Asian countries in talks for settling trade in domestic currencies
Countries to accept trading partners' currency; move aimed at reducing dollar dependence
 "Asian countries in talks for settling trade in domestic currencies")
What are Nostro and Vostro accounts?
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?
 "What are Nostro and Vostro accounts?")
Maruti Suzuki reports 2% rise in total wholesale to 170,395 units in Mar
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.
 "Maruti Suzuki reports 2% rise in total wholesale to 170,395 units in Mar")
Russia proposes SWIFT alternative to India for Ruble payments
India is keen to continue bilateral trade due to its dependency on Russian weapons and the prospect of buying cheaper oil as global prices surge.
Bank frauds fall over last 5 years to Rs 648 cr in Apr-Dec FY22: Minister
Improved detection and reporting along with comprehensive steps resulted in sharp decline of such frauds, he said
 "Bank frauds fall over last 5 years to Rs 648 cr in Apr-Dec FY22: Minister")
SME: 'Due date of sight bill should be counted from date of presentation'
What a firm seeking supplies from abroad on credit should do in case there is an error in the contractual documents
 "SME: 'Due date of sight bill should be counted from date of presentation'")
Russian invasion of Ukraine and Budget 2022
While Russia's invasion of Ukraine doesn't quite throw Budget 2022 out the window yet, it does mean the fiscal maths will need a significant re-look.
Indian exporters fear $400 mn stuck in Russia as West blocks its banks
While exporters will get more clarity on the impact when finer details of SWIFT ban are spelt out, they have had discussions with govt to deal with payment-related challenges
 "Indian exporters fear $400 mn stuck in Russia as West blocks its banks")
Wall Street tumbles as Russia-Ukraine crisis sows fear; Dow falls over 2%
The Nasdaq Composite dropped 1.65% to 13,525.13
 "Wall Street tumbles as Russia-Ukraine crisis sows fear; Dow falls over 2%")
What is the SWIFT payment system?
Following Russia's attack on Ukraine, the EU and the US announced measures to block selected Russian banks from the SWIFT payments system. What is SWIFT? Watch this report to know more about it
 "What is the SWIFT payment system?")
TMS Ep118: Portfolio rejig, India's defence deals, markets, SWIFT
Should you increase gold, real estate exposure? What does Ukraine crisis mean for India's defence? How did markets react to Ukraine-Russia conflict? What is the SWIFT payment system? All answers here
 "TMS Ep118: Portfolio rejig, India's defence deals, markets, SWIFT")
Banks weigh on Wall Street after new Russia sanctions; Dow falls 440 points
The S&P 500 fell 44.39 points, or 1.01%, to 4,340.26, the Nasdaq Composite slipped 81.87 points, or 0.60%, to 13,612.75
 "Banks weigh on Wall Street after new Russia sanctions; Dow falls 440 points")
Ruble sinks 26% to 105.27 per dollar after SWIFT sanctions on Russian banks
The Russian currency dropped nearly 26% to 105.27 per dollar, down from about 84 per dollar late Friday
 "Ruble sinks 26% to 105.27 per dollar after SWIFT sanctions on Russian banks")
Ukraine crisis: US, European Union cut few Russian banks from SWIFT
Removing banks from SWIFT is deemed to be a severe curb because almost all banks use the system.
