What has the Reserve Bank of India (RBI) allowed overseas banks to do?
Open Indian Rupee (INR) accounts for non-residents
Why in the news?
"RBI Allows Overseas Banks to Open Indian Rupee (INR) Accounts for Non-Residents to Boost Global Trade”
The Reserve Bank of India (RBI) has allowed overseas branches of authorized banks to open Indian Rupee (INR) accounts for non-residents. This policy aims to promote the global use of the Rupee in cross-border transactions and support Indian exporters.
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