Sberbank CEO Gref says CBDCs could speed India Russia trade
Business
Sberbank, Russia's biggest bank, thinks central bank digital currencies (CBDCs) could make trading between India and Russia way smoother and faster.
CEO and chairman of the executive board Herman Gref shared at the BRICS summit in New Delhi that the central banks of the two countries are working on a mechanism that could make cross-border payments faster and more efficient.
Sberbank plans 10 new India branches
India-Russia trade has jumped to $60 billion this year, mostly thanks to India buying more Russian oil and goods.
To keep up with this momentum, Sberbank plans to open 10 new branches in India and has acquired two office buildings in New Delhi that are under construction and are expected to be commissioned by 2028, Russia's largest real estate investment here yet.