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The Reserve Bank of India (RBI) is intensifying efforts to internationalize the Indian Rupee (INR) by making regulatory changes for non-residents and enhancing the appeal of the GIFT City as an international financial center. The RBI plans to liberalize regulations related to INR accounts for non-residents and allow them to open rupee accounts outside India. ....
The Reserve Bank of India (RBI) is intensifying efforts to internationalize the Indian Rupee (INR) by making regulatory changes for non-residents and enhancing the appeal of the GIFT City as an international financial center. The RBI plans to liberalize regulations related to INR accounts for non-residents and allow them to open rupee accounts outside India. ....
The Reserve Bank of India (RBI) has imposed Rs36.38 lakh penalty on HSBC Ltd, an authorised dealer bank, for violating reporting requirements for remittance. ....
Global capability centres (GCCs) operating in India have made it a priority to understand local compliance norms amid an evolving regulatory and GenAI landscape, as per a Nasscom-KPMG survey report. ....