{"id":23878,"date":"2026-01-22T16:18:41","date_gmt":"2026-01-22T10:48:41","guid":{"rendered":"https:\/\/blog.razorpay.in\/blog\/?p=23878"},"modified":"2026-02-07T17:03:03","modified_gmt":"2026-02-07T11:33:03","slug":"difference-between-nostro-and-vostro-account","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/difference-between-nostro-and-vostro-account\/","title":{"rendered":"Nostro and Vostro Accounts: Meaning, Differences, and Examples in Global Banking"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Ever wondered how Indian banks manage money held in foreign banks, or how exporters receive payments in USD? The answer lies in a clever, centuries-old banking system that works silently in the background. If you&#8217;re a business owner or an exporter, you&#8217;ve likely seen the results of this system without knowing its name.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the heart of global trade and cross-border transactions are two fundamental concepts: <\/span><b>Nostro and Vostro accounts<\/b><span style=\"font-weight: 400;\">. While they might sound complex, they are simply two sides of the same coin, enabling the seamless flow of money across the world.<\/span><\/p>\n<p><b>&#8220;they are simply two sides of the same coin, enabling the seamless flow of money across the world&#8221;<\/b><\/p>\n<div style=\"border-left: 4px solid #0073aa; background: #f0f8ff; padding: 15px; margin: 20px 0; border-radius: 5px;\">\n<h2 style=\"color: #0073aa; font-size: 18px; margin: 0 0 8px 0; display: inline-block;\">Key Takeaways<\/h2>\n<ul style=\"display: inline-block; margin: 0 0 0 10px; padding-left: 18px; vertical-align: top;\">\n<li><strong>Nostro and Vostro<\/strong> accounts represent opposite views of the same banking relationship: <em>Nostro<\/em> is &#8220;our account with you&#8221; and <em>Vostro<\/em> is &#8220;your account with us&#8221;.<\/li>\n<li>A <strong>Nostro account<\/strong> is a domestic bank\u2019s foreign currency account held with a foreign bank, while a <strong>Vostro account<\/strong> is how a foreign bank tracks the funds it holds for the domestic bank.<\/li>\n<li><strong>Accounting treatment:<\/strong> Nostro accounts are considered assets for the bank that owns the funds abroad; Vostro accounts are liabilities for the bank holding the funds.<\/li>\n<li><strong>Currency and geography:<\/strong> Nostro accounts are held in foreign currency abroad, while Vostro accounts are maintained in the domestic currency where the account is hosted.<\/li>\n<li>These accounts are essential for <strong>cross-border settlements<\/strong>, trade finance, and remittances \u2014 especially when using the SWIFT network or correspondent banks.<\/li>\n<li>Knowing the difference helps understand <strong>fund routing paths<\/strong> and why certain international transfers take longer or incur specific fees.<\/li>\n<\/ul>\n<\/div>\n<p><span style=\"font-weight: 400;\">This article will break down everything you need to know about these essential banking tools. We will explore:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The meaning of Nostro and Vostro accounts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The key differences between them.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Real-world examples of how they work in global trade.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Why understanding these accounts helps Indian exporters manage and receive international payments smoothly.<\/span><\/li>\n<\/ul>\n<h2><b>What is a Nostro and Vostro Account in Banking?<\/b><\/h2>\n<p>Nostro and Vostro accounts are paired cross-border bank accounts used to manage international money movement. They work as mirror accounts, with the difference depending only on the bank\u2019s viewpoint. A Nostro account, meaning \u201cours,\u201d is an account that an Indian bank holds with a foreign bank in another country. A Vostro account, meaning \u201cyours,\u201d is the same account viewed from the foreign bank\u2019s perspective when it is maintained locally<\/p>\n<h3><b>What is a Nostro Account?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A Nostro account, from the Latin word <\/span><i><span style=\"font-weight: 400;\">Nostro<\/span><\/i><span style=\"font-weight: 400;\"> for &#8220;ours,&#8221; refers to <\/span><b>&#8220;our account with you.&#8221;<\/b><\/p>\n<p><span style=\"font-weight: 400;\">It is an account that a domestic bank holds with a foreign bank, denominated in the foreign currency. Think of it as your bank&#8217;s bank account in another country.<\/span><\/p>\n<p><b>Example:<\/b><span style=\"font-weight: 400;\"> When the State Bank of India (SBI) opens an account with a bank in the United States, like JP Morgan Chase, and holds funds in U.S. Dollars (USD), that account is a <\/span><b>Nostro account<\/b><span style=\"font-weight: 400;\"> for SBI. It\u2019s SBI\u2019s money, held in a foreign bank, in a foreign currency.<\/span><\/p>\n<h3><b>What is a Vostro Account?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A Vostro account, from the Latin word <\/span><i><span style=\"font-weight: 400;\">Vostro<\/span><\/i><span style=\"font-weight: 400;\"> for &#8220;yours,&#8221; refers to <\/span><b>&#8220;your account with us.&#8221;<\/b><\/p>\n<p><span style=\"font-weight: 400;\">It is the exact same account as the Nostro account, but seen from the foreign bank&#8217;s point of view. The foreign bank holds this account on behalf of a domestic bank.<\/span><\/p>\n<p><b>Example:<\/b><span style=\"font-weight: 400;\"> From JP Morgan Chase&#8217;s perspective, the USD account they hold for SBI is a <\/span><b>Vostro account<\/b><span style=\"font-weight: 400;\">. It\u2019s SBI\u2019s money, but it\u2019s on deposit with them. Similarly, if Deutsche Bank in Germany maintains an Indian Rupee (INR) account with HDFC Bank in India, that is a Vostro account for HDFC Bank.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Did You Know?<\/b><span style=\"font-weight: 400;\"> \ud83e\uddd0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The terms <\/span><b>Nostro<\/b><span style=\"font-weight: 400;\"> and <\/span><b>Vostro<\/b><span style=\"font-weight: 400;\"> come from 14th-century Italian merchants, who are considered the pioneers of modern banking. Many fundamental accounting terms we use today, like &#8220;debit&#8221; (he owes) and &#8220;credit&#8221; (he trusts), also originate from this period in Italy. It shows how the language of money has been global for centuries!<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h2><b>What is the Purpose of Nostro and Vostro Accounts?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">These accounts are the fundamental plumbing of the international financial system. They are not just for record-keeping; they serve critical functions for businesses and banks.<\/span><\/p>\n<h3><b>Purpose in Business Processes<\/b><\/h3>\n<h4><b>Facilitating International Payments<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Nostro and Vostro accounts are the primary mechanism for settling international trade transactions. When an importer in one country pays an exporter in another, the money moves between the banks through their Nostro\/Vostro relationship. This forms the basis of <\/span><b>correspondent banking<\/b><span style=\"font-weight: 400;\">, where banks partner with each other across the globe to handle transactions without needing a physical branch everywhere.<\/span><\/p>\n<h4><b>Reducing Forex Complexity<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">By holding funds in foreign currencies, banks can mitigate some of the risks associated with currency fluctuations. It allows them to execute conversions and settle payments in near real-time for their clients, simplifying the complex world of foreign exchange (Forex).<\/span><\/p>\n<h3><b>How Nostro and Vostro Fit Into Business Transactions<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Whenever a bank needs to handle a foreign currency payment for a client, these accounts come into play. They are essential for:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Trade Finance:<\/b><span style=\"font-weight: 400;\"> Facilitating payments for import and export bills.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>SWIFT Transfers:<\/b><span style=\"font-weight: 400;\"> Acting as the destination and source accounts for messages sent via the Society for Worldwide Interbank Financial Telecommunication (<a href=\"https:\/\/razorpay.com\/learn\/what-is-swift\/\">SWIFT<\/a>) network.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Remittances:<\/b><span style=\"font-weight: 400;\"> Enabling individuals and businesses to send and receive money from abroad.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">From an accounting perspective, a Nostro account with a debit balance (money held in it) is considered a cash asset for the domestic bank. Conversely, a Vostro account with a credit balance is a liability for the bank holding the funds, as it is money owed to the foreign bank.<\/span><\/p>\n<h2><b>Difference Between Nostro and Vostro Account<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The easiest way to understand the difference is to see them side-by-side. Although they refer to the same account, the terminology changes based on who is speaking.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">Feature<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nostro Account<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Vostro Account<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Meaning<\/b><\/td>\n<td><span style=\"font-weight: 400;\">&#8220;Our account with you&#8221;<\/span><\/td>\n<td><span style=\"font-weight: 400;\">&#8220;Your account with us&#8221;<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Currency<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Maintained in the <\/span><b>foreign currency<\/b><span style=\"font-weight: 400;\"> of the country where the account is held.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Maintained in the <\/span><b>domestic currency<\/b><span style=\"font-weight: 400;\"> of the bank holding the account.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Holder<\/b><\/td>\n<td><span style=\"font-weight: 400;\">An Indian bank holds the account in a foreign bank (e.g., SBI in the USA).<\/span><\/td>\n<td><span style=\"font-weight: 400;\">A foreign bank&#8217;s funds are held in an Indian bank (e.g., a US bank&#8217;s account in SBI).<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Perspective<\/b><\/td>\n<td><span style=\"font-weight: 400;\">The perspective of the bank that <\/span><b>owns the money<\/b><span style=\"font-weight: 400;\">.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The perspective of the bank that <\/span><b>holds the money<\/b><span style=\"font-weight: 400;\"> for another bank.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Purpose<\/b><\/td>\n<td><span style=\"font-weight: 400;\">To make payments and settle transactions in a foreign country.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">To receive funds and manage an account on behalf of a foreign bank client.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Example<\/b><\/td>\n<td><span style=\"font-weight: 400;\">SBI holds a USD account with JP Morgan in New York. This is SBI&#8217;s <\/span><b>Nostro account<\/b><span style=\"font-weight: 400;\">.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">JP Morgan holds an INR account for SBI in Mumbai. This is JP Morgan&#8217;s <\/span><b>Vostro account<\/b><span style=\"font-weight: 400;\">.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h2><b>Nostro and Vostro Account Example in Real Life<\/b><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23907 size-full\" src=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/blog-content\/uploads\/2025\/08\/Screenshot-2025-08-25-110732.png\" alt=\"\" width=\"1528\" height=\"717\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-25-110732.png 1528w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-25-110732-300x141.png 300w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-25-110732-1024x481.png 1024w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-25-110732-768x360.png 768w\" sizes=\"auto, (max-width: 1528px) 100vw, 1528px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Let&#8217;s walk through a typical transaction for an Indian exporter.<\/span><\/p>\n<p><b>Case:<\/b><span style=\"font-weight: 400;\"> An Indian garment exporter in Tiruppur sells a consignment worth $10,000 to a buyer in the United States. The exporter banks with SBI.<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Payment Initiation:<\/b><span style=\"font-weight: 400;\"> The US buyer instructs their American bank, say Bank of America, to pay $10,000 to the Indian exporter.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The Nostro Leg:<\/b><span style=\"font-weight: 400;\"> Bank of America doesn&#8217;t send physical dollars to India. Instead, it transfers the $10,000 to SBI&#8217;s <\/span><b>Nostro account<\/b><span style=\"font-weight: 400;\">, which is a USD account that SBI holds with a correspondent bank in the U.S. (let&#8217;s say Citibank).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>SWIFT Communication:<\/b><span style=\"font-weight: 400;\"> A SWIFT message is sent from Bank of America to SBI, confirming the credit of $10,000 into SBI&#8217;s Nostro account.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The Vostro Perspective:<\/b><span style=\"font-weight: 400;\"> For Citibank, the account where this money lands is a <\/span><b>Vostro account<\/b><span style=\"font-weight: 400;\">\u2014they are holding &#8220;your&#8221; (SBI&#8217;s) money.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Final Settlement in India:<\/b><span style=\"font-weight: 400;\"> Once SBI receives confirmation that its Nostro account has been credited, it converts the $10,000 into Indian Rupees (INR) at the prevailing exchange rate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Credit to Exporter:<\/b><span style=\"font-weight: 400;\"> SBI then credits the final INR amount (e.g., \u20b98,30,000, assuming a rate of \u20b983\/$1) into the Indian garment exporter&#8217;s local current account.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The entire process, from the US buyer to the Indian exporter, is settled seamlessly without physical currency ever crossing borders, all thanks to the Nostro-Vostro framework.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Did You Know?<\/b><span style=\"font-weight: 400;\"> \ud83c\udf10\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The SWIFT network, which relies on Nostro\/Vostro accounts, is massive. It doesn&#8217;t move money itself, but sends payment orders. On an average day, it facilitates the exchange of messages that lead to the transfer of <\/span><b>trillions of dollars<\/b><span style=\"font-weight: 400;\"> between more than 11,000 financial institutions across 200 countries.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h2><b>Why Are These Accounts Important for Exporters?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As an exporter, you don&#8217;t interact with Nostro or Vostro accounts directly, but their existence is what makes your business possible. Here\u2019s why they matter:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Receiving Foreign Payments:<\/b><span style=\"font-weight: 400;\"> They are the core banking infrastructure that allows your Indian bank to receive payments in USD, EUR,\u00a0 GBP, or any other foreign currency.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Enabling e-FIRA Generation:<\/b><span style=\"font-weight: 400;\"> The credit into the Nostro account is the starting point for your bank to issue an electronic Foreign Inward Remittance Advice (<a href=\"https:\/\/razorpay.com\/blog\/e-fira\/\">e-FIRA<\/a>), a crucial document for export compliance and proving that your export earnings have been realised.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Backbone of Payment Gateways:<\/b><span style=\"font-weight: 400;\"> Modern <a href=\"https:\/\/razorpay.com\/accept-international-payments\/\">international payment gateways<\/a> use this correspondent banking network to collect funds globally and settle them into your Indian bank account.<\/span><\/li>\n<\/ul>\n<table>\n<tbody>\n<tr>\n<td><b>Exporter&#8217;s Pro-Tip<\/b><span style=\"font-weight: 400;\"> \ud83d\udcdd\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Always ensure the <\/span><b>Purpose Code<\/b><span style=\"font-weight: 400;\"> declared to your bank for an incoming payment is accurate. For example, use <\/span><b>P0101<\/b><span style=\"font-weight: 400;\"> for export of goods. A mismatch between your shipping documents and your declared purpose code can lead to delays in receiving your e-FIRA and cause compliance issues with the RBI. Double-checking this small detail can save you a lot of headaches!<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><b>Simplify Global Payments with Razorpay International<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Understanding Nostro and Vostro accounts is insightful, but you shouldn\u2019t have to worry about managing the underlying banking complexities. That\u2019s where a robust payment solution comes in.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With <\/span><b>Razorpay International<\/b><span style=\"font-weight: 400;\">, you can leave the banking infrastructure to us and focus on growing your business.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accept payments in over <\/span><b>130+ currencies<\/b><span style=\"font-weight: 400;\"> from more than 190 countries.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Get automatic and timely <\/span><b>INR settlements<\/b><span style=\"font-weight: 400;\"> with purpose code tagging for compliance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receive funds via our network of foreign banks without needing to set up your own international accounts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receive <\/span><b>e-FIRA-friendly documentation<\/b><span style=\"font-weight: 400;\"> for every single international transaction, simplifying your compliance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Integrate seamlessly with your D2C website, export platform, or share payment links.<\/span><\/li>\n<\/ul>\n<div style=\"background-color: #f5f9fc; padding: 32px 24px; border-radius: 12px; text-align: center; max-width: 720px; margin: 0 auto;\">\n<h2 style=\"color: #1a73e8; margin-bottom: 12px; font-size: 24px; font-weight: bold;\">Simplify International Payments with Razorpay<\/h2>\n<p style=\"color: #333; font-size: 16px; margin-bottom: 20px; line-height: 1.5;\"><strong>Start Accepting Global Payments Without Banking Complexity.<\/strong><\/p>\n<p><a style=\"background-color: #1a73e8; color: #ffffff; font-weight: 600; padding: 12px 24px; border-radius: 8px; font-size: 16px; text-decoration: none; display: inline-block;\" href=\"https:\/\/razorpay.com\/accept-international-payments\/?utm_source=blog&amp;utm_medium=cta&amp;utm_campaign=international_payments\"><em><strong>Try Razorpay International Today.<\/strong><\/em><\/a><\/p>\n<\/div>\n<h2><b>Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Nostro and Vostro accounts are elegant solutions to the complex problem of moving money across borders. They are the invisible engines of global trade, representing &#8220;our money with you&#8221; and &#8220;your money with us.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For Indian exporters, this system is what connects their local business to the global marketplace. While the backend is intricate, understanding the basics helps them stay compliant, confident, and ready to take their business global. Modern platforms exist to simplify this process, ensuring they can receive payments from anywhere, anytime, with ease.<\/span><\/p>\n<h2><b>FAQs<\/b><\/h2>\n<ol>\n<li>\n<h3><b> What is the full form of Nostro and Vostro?<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Nostro and Vostro are not acronyms. They are Italian words derived from Latin. <\/span><i><span style=\"font-weight: 400;\">Nostro<\/span><\/i><span style=\"font-weight: 400;\"> means &#8220;Ours,&#8221; and <\/span><i><span style=\"font-weight: 400;\">Vostro<\/span><\/i><span style=\"font-weight: 400;\"> means &#8220;Yours.&#8221;<\/span><\/p>\n<ol start=\"2\">\n<li>\n<h3><b> Can exporters directly access these accounts?<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">No, exporters cannot directly access or open Nostro or Vostro accounts. These are inter-bank accounts used exclusively by financial institutions to facilitate foreign currency transactions. Exporters use their own domestic business accounts to receive the final settled funds in their local currency.<\/span><\/p>\n<ol start=\"3\">\n<li>\n<h3><b> Are Nostro and Vostro the same as NRE\/NRO accounts?<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">No, they are completely different. Nostro and Vostro accounts are used between banks for trade and forex settlements. NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts are used by individuals\u2014specifically Non-Resident Indians (NRIs)\u2014to maintain their earnings in India.<\/span><\/p>\n<ol start=\"4\">\n<li>\n<h3><b> Is a Nostro account necessary to receive USD from foreign clients?<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">For you as an exporter, no. For your bank, yes. Your bank must have a Nostro account (or a relationship with a bank that does) to be able to receive USD on your behalf. You only need a valid business bank account in India with forex-enabled services.<\/span><\/p>\n<ol start=\"5\">\n<li>\n<h3><b> Who regulates these accounts in India?<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">In India, all banking operations, including the opening and maintenance of Nostro and Vostro accounts and the broader correspondent banking framework, are regulated by the <\/span><b>Reserve Bank of India (RBI)<\/b><span style=\"font-weight: 400;\">. The RBI sets the guidelines to ensure financial stability and compliance.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ever wondered how Indian banks manage money held in foreign banks, or how exporters receive payments in USD? The answer lies in a clever, centuries-old banking system that works silently in the background. If you&#8217;re a business owner or an exporter, you&#8217;ve likely seen the results of this system without knowing its name. At the<\/p>\n","protected":false},"author":103,"featured_media":25339,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1067],"tags":[1104],"class_list":{"0":"post-23878","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cross-border","8":"tag-nostro-and-vostro-account"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/23878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=23878"}],"version-history":[{"count":8,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/23878\/revisions"}],"predecessor-version":[{"id":25838,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/23878\/revisions\/25838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/25339"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=23878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=23878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=23878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}