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In July 2022, the RBI had put in place an additional arrangement for the invoicing, payment, and settlement of exports and imports in rupees. The settlement of trade transactions with other countries would require Indian banks to open Special Rupee Vostro accounts of correspondent banks of the partner countries. ....
The rupee payment can come handy and change the trade scenario. The target, though challenging, is doable. With imagination and effort, it can be achieved
According to the foreign trade policy announced on March 31, 2023, the goods and services exports target of $2000 billion by 2030, has been ....
India has introduced invoicing and payments for international trade in the Indian rupee (INR) to reduce dependence on hard currencies such as the US dollar. 17.09.2022, Sputnik International ....
The Indian central bank's decision to let importers pay with rupees and exporters be paid in rupees is likely to make trade easier with Russia and South Asian neighbours. ....