![]() In an official release, the central bank said, “In order to promote growth of global trade with emphasis on exports from India…it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports/imports in INR.”īefore putting in place this mechanism, banks shall require prior approval from the RBI’s foreign exchange department. ![]() Earlier this week, the Reserve Bank of India (RBI) paved the way for global trade settlement in Indian rupees.
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