FAQ: How do we pay our Russian partners?
Settlements in rupees
Russian-Indian trade remains active thanks to a working scheme for rupee-based settlements. Businesses on both sides can open accounts with Sberbank — in Russia and in India — to facilitate legal and efficient transfers using online banking.
Step 1: Sending payments from Russia
A Russian legal entity can open a corporate account with Sberbank Russia, which supports international transactions to India. Once the account is opened, funds can be transferred online to a business partner’s account with SBER India or anу other Indian bank.
Step 2: Receiving funds in India
The Indian partner receives the transfer to their account in rupees. If the account is with SBER India, they can manage it through the internet banking platform. Funds can then be transferred domestically within India via the intrabank or domestic payment options.
Step 3: Sending payments from India to Russia
To make payments in the opposite direction, Indian businesses can open an account with SBER India.
Step 4: Settling with Russian partners
While online international bank transfers from India to Russia are not available at present, the funds can be processed through Sberbank’s offices. Businesses are advised to coordinate with their relationship manager at SBER India for transaction-specific guidance.
How to make a payment
To transfer funds within India, customers can use intrabank payments (within Sberbank) or domestic payments (to other Indian banks) through the online platform.
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