RBI sets up mechanism to settle international trade payments in rupees1 min read . Updated: 11 Jul 2022, 07:11 PM IST
According to the new system, banks will need to seek prior approval to use.
The Reserve Bank of India on 11 July unveiled a rupee settlement system for international trade, aiming to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in Indian Rupee.
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