VOSTRO Accounts

VOSTRO Accounts

Demand deposit account, denominated in domestic currency maintained by overseas banks with domestic banks are called as VOSTRO Accounts. NOSTRO Means “Your Account with Us”. Example: Any overseas bank like Bridge Bank has a INR account with Bank of Baroda, India then such account is called as NOSTRO Account.

NOSTRO Accounts

NOSTRO Accounts

Demand deposit account, denominated in foreign currency maintained by domestic banks with overseas banks are called as NOSTRO Accounts. NOSTRO Means “Our Account with You”. Example: Any domestic bank like Bank of India has a US Dollar account with ICICI Bank then such account is called as NOSTRO Account.

Mutual Funds

A mutual fund is a common pool of money in to which investors with common investment objective place their contribution that are to be invested in accordance with stated investment objective of the scheme. A mutual fund is a trust that pools the saving of a number of investors who share a common financial goal. … Read more