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Question

In 2023, India imported crude oil from which country, making payments in Indian Rupees (₹), as part of the Rupee-Dirham trade agreement?

This question was previously asked in
RRB NTPC 2024 Undergraduate CBT 1 Question Paper (29-Aug-2025) (Shift 1)
The correct answer is

UAE

The correct answer is  option  1 I.e. UAE.

In 2023, India made its first-ever payment in Indian Rupees (₹) for the purchase of crude oil from the United Arab Emirates (UAE). This transaction, involving the purchase of one million barrels of crude oil from Abu Dhabi National Oil Company (ADNOC), was conducted under the newly implemented Local Currency Settlement (LCS) system. The payment was made by Indian Oil Corporation (IOC) in Indian Rupees, marking a significant step in promoting the use of local currencies in international trade .

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