RBI Seeks Ways for Russia to Use Rupee Reserves, Official Says

India is exploring additional ways for Russia to utilize its accumulated rupee reserves, a senior central bank official said.

The central bank is assessing whether Russian entities can put their rupee funds to productive use in the Indian economy, said N. Senthil Kumar, chief general manager in the Reserve Bank of India’s foreign exchange department, at a business event on India and Russia in Mumbai. He did not elaborate on the measures or the amount of rupees accumulated by Russia.