"Sberbank is a full participant in all Indian payment and interbank systems," Anatoly Popov, Sberbank's deputy CEO, told Reuters. "There are no restrictions on its operations."
Popov mentioned that nine out of 10 transactions involving rubles and rupees take just a few hours to complete, showcasing the efficiency difference compared to transactions through banks in China.
Despite Western sanctions, business between India and Russia boomed in 2022 post the invasion of Ukraine, with India emerging as an alternative market for Russia.
Sberbank has significantly increased its presence in India, expanding its workforce by 150% this year amidst a rise in trade between the two nations.
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