Internationalising of Rupee: The Reserve Bank on Wednesday announced a series of measure to boost the Indian Rupee’s role in global trade, promoting its use for cross-border settlements and reducing dependence on the US dollar. RBI Governor Sanjay Malhotra, highlighted India’s steady progress in promoting the rupee for international transactions and unveiled three measures in this regard: SRVAs, accounts maintained by foreign banks with Indian banks, facilitate direct trade settlements in Indian Rupees. These measures aim to reduce reliance on the US dollar and protect the economy from sudden currency fluctuations and exchange rate risks. India’s external sector continues to show strong fundamentals. In Q1 of 2025-26, the current account deficit moderated to USD 2.4 billion (0.2%

See Full Page