Articles for This Mechanism

RBI’s gameplan for conducting international trade settlements in rupees
2 years, 5 months ago

RBI’s gameplan for conducting international trade settlements in rupees

Live Mint  

As the rupee falls against the US dollar due to global uncertainties, the Reserve Bank of India on Monday introduced a rupee settlement system for international trade. “In order to promote the growth of global trade with an emphasis on exports from India and to support the increasing interest of the global trading community in INR, it has been decided …

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RBI spells out re-settlement terms
2 years, 5 months ago

RBI spells out re-settlement terms

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Monday said that it is putting in place a mechanism to settle international trade in rupees. Before putting in place this mechanism, AD banks shall require prior approval from the Foreign Exchange Department of Reserve Bank of India, Central Office at Mumbai,” said the RBI in a circular. To settle the trade deals, …

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RBI Announces Measures for International Trade Settlement in Rupees
2 years, 5 months ago

RBI Announces Measures for International Trade Settlement in Rupees

News 18  

Mumbai: The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. For settlement of trade transactions, the concerned banks will require Special Rupee Vostro Accounts of correspondent bank/s of the partner trading country. “Indian importers …

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RBI announces measures for international trade settlement in rupees
2 years, 5 months ago

RBI announces measures for international trade settlement in rupees

India TV News  

The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of the increasing interest of the global trading community in the domestic currency. Apex exporters' body Federation of Indian Export Organisations said as per existing FEMA provisions, the final settlement has to be in free foreign exchange …

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