Sentro Group announced on Thursday that it has acquired a majority stake in a Russian bank, World of Privileges. The acquisition, which accounts for 50.001% ownership, will aid in facilitating rupee-ruble trade and easing transactions between India and Russia. The group is focused on facilitating the growing trade and commerce between India and Russia, as India emerges as a preferred supplier of goods for the country. The acquisition will help to streamline and simplify financial transactions between the two nations. The founder and chairman of Sentro Group, Naveen Rao, expressed the group’s desire to partner with Indian banks and financial institutions for mutual Nostro/Vostro accounts. Additionally, the bank aims to expand its services through a broker license, targeting retail investors from Russia to invest in the Indian market through FPI licenses and other legal methods. The bank has a vision to support ruble/rupee payments for Russians visiting India and Indians traveling to Russia using Indian and Russian settlement systems such as UPI and RU pay card. Currently, the bank primarily serves nationals from CIS countries and plans to expand its services in India, CIS, Saudi Arabia, and the UAE. The acquisition of World of Privileges marks a significant step for Sentro Group in strengthening its presence in the Russian market and supporting the trade between India and Russia.