VTB launches Indian Rupee deposits for businesses

VTB's clients among medium and small businesses participating in foreign economic activity were given the opportunity to place funds in deposits and non—deductible balances in Indian rupees. The service is available from any amount, the conditions for each client are selected individually, the bank said.

VTB records an increase in the volume of trade of medium and small businesses with friendly countries. These countries account for more than 80% of the foreign trade turnover, while India is one of the fastest growing areas, said Yulia Kopytova, Head of the Department of Analysis, Coordination and Product Development, Senior Vice President of VTB. According to her, in the first half of 2025, the number of customer accounts among medium and small businesses in Indian rupees increased by 36% compared to the end of 2024.

"We expect further strengthening of trade relations between India and Russia and believe that the opportunity to place temporarily available funds in Indian rupees should become an additional convenient tool for international trade participants to manage their finances," Kopytova stressed.

Companies can apply to open an account with a foreign counterparty at the VTB New Delhi branch. End—to-end free customer service is provided in three languages - Russian, English and Hindi, the bank explained.