RBI introduces international trade payment mechanism in rupees

MUMBAI: Reserve Bank of India (RBI) is introducing a mechanism to international trade settlement in rupees, which banks will need prior approval to use, it said in a statement on Monday. The order is effective immediately and the mechanism is designed to "drive the growth of global trade with an export focus", the RBI said. FOLLOW US ON SOCIAL MEDIAFacebookTwitterInstagramKOOKS APPLICATIONYOUTUBE!(function(f, b, e, v, n, t, s) { window.TimesApps = window.TimesApps || {}; const { TimesApps } = window; TimesApps.loadFBEvents = function() { (function(f, b, e, v, n, t, s) { if (f.fbq) return; n = f.fbq = function() { n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments); }; if (!f._fbq) f._fbq = n; n.push = n; n.loaded = !0; n.version = '2.0'; n.queue = []; t = b.createElement(e); t.async = !0; t.src = v; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); })(f, b, e, v, n, t, s); fbq('init', '593671331875494'); fbq('track', 'PageView'); }; })( window, document, 'script', 'https://connect.facebook.net/en_US/fbevents.js', );if(typeof window !== 'undefined') { window.TimesApps = window.TimesApps || {}; const { TimesApps } = window; TimesApps.loadScriptsOnceAdsReady = () => { var scripts = ['https://static.clmbtech.com/ad/commons/js/2658/toi/colombia_v2.js', 'https://www.googletagmanager.com/gtag/js?id=AW-877820074', 'https://imasdk.googleapis.com/js/sdkloader/ima3.js', 'https://tvid.in/sdk/loader.js', 'https://timesofindia.indiatimes.com/video_comscore_api/version-3.cms', 'https://timesofindia.indiatimes.com/grxpushnotification_js/minify-1,version-1.cms', 'https://connect.facebook.net/en_US/sdk.js#version=v10.0&xfbml=true', 'https://timesofindia.indiatimes.com/locateservice_js/minify-1,version-14.cms' ]; scripts.forEach(function(url) { let script = document.createElement('script'); script.type="text/javascript"; if(!false && !false && !false && url.indexOf('colombia_v2')!== -1){ script.src = url; } else if (!false && !false && !false && url.indexOf('sdkloader')!== -1) { script.src = url; } else if (!false && (url.indexOf('tvid.in/sdk') !== -1 || url.indexOf('connect.facebook.net') !== -1)) { script.src = url; } else if (url.indexOf('colombia_v2')== -1 && url.indexOf('sdkloader')== -1 && url.indexOf('tvid.in/sdk')== -1 && url.indexOf('connect.facebook.net') == -1){ script.src = url; } script.async = true; document.body.appendChild(script); }); } } Source link

RBI introduces international trade payment mechanism in rupees

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