Banks of 18 countries sign up for trade in rupees

The RBI has granted approval in 60 cases for the opening of Special Rupee Vostro Accounts of correspondent banks from 18 countries, the government said in the Rajya Sabha on Tuesday. The RBI has allowed invoicing and payments for international trade in the Indian rupee through a circular on July 11 last year for “International Trade Settlement in Indian Rupees”. This arrangement is expected to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in the Indian rupee. The framework put in place by the RBI is applicable to any partner country seeking to undertake trade with India in the Indian rupees. TNS

RS applauds ‘Naatu Naatu’ creator

The Rajya Sabha on Tuesday applauded the creators of song ‘Naatu Naatu’ from the action film “RRR” and “The Elephant Whisperers” on their Oscar victory. Minister for Information and Broadcasting Anurag Thakur said in the House that “brand India” had arrived and called for concerted efforts to make the country a content hub. TNS

Govt not considering creation of new state

There is no proposal under consideration of the central government to create a new state, the government said in the Lok Sabha on Tuesday. MoS for Home Nityanand Rai stated this while replying to a question on whether the government had received any proposal for the constitution of Bundelkhand state. TNS

Naxal violence down 77% in 12 years: MoS

Minister of State (MoS) for Home Nityanand Rai on Tuesday said in the Lok Sabha that there had been 77 per cent decline in the incidents of naxal violence in the country over the past 12 years and thereby, the number of deaths in related incidents had also come down 90 per cent.