Indian, Iranian bankers to meet on payment row
Thursday, 30 December 2010, 06:06 IST
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New Delhi: Top officials of Reserve Bank of India, whose decision to bar dollar and euro payments for imports from Iran may hit crude oil imports, will meet their Iranian counterparts later this week to resolve the issue. A deputy governor of RBI will meet top officials of the Iranian central bank in the next couple of days to resolve the payment settlement issue, sources said. RBI has asked importers of goods from Iran to settle their payments outside the ACU (Asian Currency Union) framework, subsequent to which payments cannot be made in dollar or euro. The Indian ambassador to Iran has been asked to arrange the meeting as soon as possible in Mumbai and a decision to this effect was taken here yesterday at a meeting, which among others, was attended by Finance Secretary Ashok Chawla.
Source: PTI
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