this is the news related to the trade between india & iran..........
as we all know that iran exports crude oil to india and due to this import we have deficit trade account with iran but some time back india paid the bills of crude oil in indian rupees and iran has accepted this and iran's govt. said that u should deposit all the indian currency in the bank of iran situated in mumbai so iran can further purchase some indian goods which they actually import from india but this would not be able to balance the trade figure between india & iran but very obviously this does in the long run as this trick saves lots of time and precious money of both the countries they are able to save money from dollar exchange rates..........
but RBI refused to payment for irani crude oil in rupees and gives a very absurd reason that this process will lead to a great reserve of INR for iran which they can use for the shake of crash the indian currency...........
one thing i dont why i think that if india want to be a world power than u have to give some liberty and this will reduce the trade deficite between india & iran but RBI has payment iran in euro's which one more example of very conservative one can say poor approach...........
