RBI proposes three measures to internationalise Indian rupee
RBI proposed three measures to internationalise the Indian rupee. These measures include allowing banks to lend in Indian rupees to non-residents in Nepal, Bhutan, and Sri Lanka. It also plans to establish a transparent reference rate for currencies of India’s major trading partners to facilitate such trade. Additionally, the RBI intends to expand the use of Special Rupee Vostro Accounts.