Two Russian banks have opened a special vostro account following permission from the Reserve Bank of India to facilitate overseas trade in rupee. Sberbank and VTB Bank -- the largest and second largest banks of Russia -- are the first foreign lenders to receive this approval after the RBI announced the guidelines on overseas trade in rupee in July. These banks have opened special vostro account in their respective branches in Delhi, sources said. Last month, state-owned UCO Bank received the RBI's approval to open a special vostro account with Gazprombank of Russia. The Kolkata-based lender, among the first banks to receive the regulator's approval following the RBI's decision to promote rup
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