Russia-India payment infrastructure ready for national currency settlements: Sberbank CEO

Sberbank India's CEO Ivan Nosov announced that the payment infrastructure for settlements in national currencies between Russia and India is now fully operational. The bank has successfully resolved key challenges in financial collaboration over time.

The move is expected to facilitate faster transactions and boost Indian exports to the Russian market, which has shown rising demand for Indian goods. The infrastructure enables direct rupee-rouble settlements, reducing dependency on third currencies.