With increased trade with India, the Group of the Russian Export Centre (REC) is part of the WEB.RF) notes the increasing demand for banking services among domestic companies operating in the Indian market. At the same time, Russian and Indian financial institutions are gradually building joint systemic work. The Chairman of the ROSECSIMBANK Board, Petr Zaselski, presented the progress of Russia ' s interaction with India on 5 September during the East Economic Forum Business Dialoga.

" The trade between Russia and India has increased in volumes and number of participants, and we see a corresponding increase in demand for banking services, ranging from conventional currency and remittance services to revolving credit and various investment projects. Despite the great history of cooperation, the Indian track has been exotic for many banks recently, but we are now moving from responding to one queries to joint system work, " , emphasized by Petr Zaselski.

The REC Group sees a significant potential for the expansion of Russian non-infant exports to India. Petr Zaselski emphasized that it was now important for countries to build a stable relationship between financial institutions, which in turn required the establishment of independent channels for the transfer of financial information between the two countries, the increase in the number of correspondent accounts in the national currency and the imposition of limits on Russian banks.

We note that the level of export support of the REC Group has reached $1 billion since 2022. In 2023, a quarter of the business support came from ROSECSIMBANK. The Bank ' s broad product line includes the necessary solutions for companies operating external economic activities: revolving revolving funds, guaranteeing export contracts, financing critical imports.

Source: REC https:/ / www.exportcenter.ru/press_center/rossiyskie-indiyskie-banki-perekhodyat-k-sovmestnoy-sistemnoy-rabote/

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