Banks have reached out to the Reserve Bank of India (RBI) to seek clarity on legal and regulatory grey areas regarding proposed rupee vostro accounts before operationalising them to settle international trade,including that with Russia.

The Centre expects a further rise in its FY23 expenditure budget because of increased fertiliser and cooking gas subsidies besides a higher fund requirement under the rural employment guarantee scheme.

Small Indian app developers and startups offering video, audio, or book content may have to pay only 6% commission for in-app purchases on Google Play Store, a top company executive told ET.

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