The public organization “Opora Rossii” proposed to the Central Bank to allow small and medium-sized businesses to pay with foreign suppliers in rubles, reports TASS with reference to a letter from the head of Opora Rossii, Alexander Kalinin, to the chairman of the Central Bank, Elvira Nabiullina.
“Avoiding transactions in dollars, euros, yen, pounds in foreign economic contracts. Prompt transition to direct settlements in rubles and other currencies. Opening of mutual limits by banks of Russia and countries with large markets (China, India, Brazil, African countries),” the letter cites possible options for helping Russian importers.
In addition, Kalinin proposes to soften the conditions for transfers within the framework of the Fast Payment System (FPS) developed by the Central Bank, in particular, to increase the transfer limit from 600 thousand to one million rubles, and also to provide banks with assistance in restructuring loans issued to businesses without raising interest rates.
Also, Opora Rossii proposes to expand the list of countries whose banks can join the Financial Message Transfer System (SPFS), an analogue of the international SWIFT system developed by the Central Bank, which allows transferring orders between credit institutions.
The Central Bank has already responded to one of Opora Rossii’s proposals, stating that it is considering the possibility of increasing the limit of one transaction in the FPS from 600 thousand to one million rubles.
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