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India expands rupee use in regional trade, cuts dollar reliance, and eases NRI financial rules.
The Reserve Bank of India has expanded the use of the Indian rupee in cross-border trade by allowing banks to lend INR to non-residents in Nepal, Sri Lanka, and Bhutan for trade, aiming to reduce dollar dependence.
The central bank also plans transparent reference rates for key trading partners’ currencies, expands SRVA use to include corporate bonds and commercial papers, and simplifies NRI investment and remittance rules.
These steps support regional trade, strengthen the rupee’s international role, and improve financial access for overseas Indians.
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India expande el uso de la rupia en el comercio regional, reduce la dependencia del dólar y relaja las reglas financieras de los extranjeros.