New Delhi: The Russian government announced on Wednesday that it has decided to simplify norms for Indian nationals wishing to open their bank accounts in Russian banks while staying in India.

Taking to X, Russian Embassy in India shared about the move saying, "We're excited to announce the decision of the Russian Government to introduce simplified norms for #India'n nationals seeking to open bank accounts with #Russia'n financial institutions. It is now possible to open bank accounts or deposit funds in Russian banks remotely."

Under this move, Indian national tourists or students can reach out to an Indian bank which has a collaboration with the Russian Central Bank and can open their bank account, following conveniently obtain bank card to initiate financial transactions in Russia.

The Russian Embassy in India said in a post on X, "The process is straightforward: #India'n nationals wishing to open such a bank account are advised to approach an Indian bank that has a partnership agreement with the Central Bank of the #Russia'n Federation for guidance."

It added, "Upon arrival in #Russia, it will be possible to quickly obtain a bank card in a partner Russian bank and initiate financial transactions. This feature is especially convenient for #India'n tourists and students."