Sberbank sees no problems with settlements in rupees

MOSCOW. April 16 (Interfax) - Sberbank does not see any complications in conducting settlements in the Russian ruble/Indian rupee currency pair, Alexei Dolgushin, executive director of the development center for the Indian branch of Sberbank, said.

"The ruble/rupee and the rupee/ruble have no problems with payments now," Dolgushin said at the National Oil and Gas Forum, noting that there are no difficulties in either import settlements or export settlements.

Dolgushin also said that payments in the currency pair occur within one day. Sberbank does not use correspondent accounts in Indian banks, rather, it operates through branches in the country.

In addition to settlements, Sberbank is actively providing financing in rupees to organizations in India under the guarantee of Russian companies, and is developing deposits in the Indian currency.

"We are financing organizations in India under recourse to the Russian perimeter, namely legal entities that are registered in India," Dolgushin told reporters later.