NEW DELHI, December 4. /TASS/. Settlements between Russia and India are almost 100% conducted in national currencies, Russian Finance Minister Anton Siluanov said at the opening ceremony of VTB Bank's new office.

"We see an increase in trade volumes between our countries, investment volumes, and travel volumes between our people. We see an annual increase of almost twofold or more in the volume of international transactions between our countries. Moreover, almost 100% of those transactions are conducted in national currencies," he said.

The opening of bank offices will speed up mutual settlements, which is important for expansion of economic cooperation between Russia and India, the minister added.