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What is Promoting Indian Rupee in Cross-Border Trade about?
The Reserve Bank of India has announced changes to encourage the use of the Indian Rupee (INR) and local currencies for cross-border transactions by liberalizing FEMA regulations. Key updates include allowing overseas branches of Authorized Dealer banks to open INR accounts for non-residents and enabling non-residents to settle transactions using their repatriable INR account balances. Additionally, Indian exporters can now open foreign currency accounts abroad for trade settlements, enhancing international
- Author
- Navneet Bagga
- Language
- EN