Internationalisation of Rupees: RBI announces slew measures – All you need to know

The Reserve Bank of India has announced significant measures to elevate the rupee’s global role, permitting cross-border lending in INR to Bhutan, Nepal, and Sri Lanka, and expanding the use of Special Rupee Vostro Accounts. These initiatives aim to lessen US dollar dependence, supported by India’s strong economic fundamentals, including a moderated current account deficit and robust forex reserves.