Finance ministry to hold meeting with stakeholders to push overseas trade in rupee

RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. The announcement by the Reserve Bank of India (RBI) to allow cross-border trade transactions in rupee is a timely move and a step towards internationalisation of the currency.

from Banking/Finance-Industry-Economic Times https://ift.tt/jCJL1BS