Internationalisation of INR facilitates broader use in cross-border settlements as part of a sequenced policy. International use of the Indian rupee addresses frictions in cross border payments by establishing a sequenced, calibrated policy pathway to expand INR ... Summary
Internationalisation of INR facilitates broader use in cross-border settlements as part of a sequenced policy.
International use of the Indian rupee addresses frictions in cross border payments by establishing a sequenced, calibrated policy pathway to expand INR settlement in international transactions. The measure is not targeted at any particular foreign jurisdiction and FEMA guidance frames operational and compliance aspects for market participants.
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