Reserve Bank of India Executive Director Radha Shyam Ratho has commented that internationalisation of rupee is the natural step forward. "As such, the time is ripe to explore various measures required to internationalise the Indian rupee to further the broader aspect of Aatmanirbhar Bharat," Ratho said at the Banking and Finance Summit organised by the CII.
India has been looking to encourage the use of the Rupee to settle international trade transactions. However, progress has been slow, with the government and the Reserve Bank of India treading carefully to ensure there aren t any unintended consequences