Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
A new global standard for financial messaging systems that came into force this year is expected to improve efficiency and reduce payments friction in international transactions. G20 has a target of settling 80% of all international transactions within an hour by 2027. The lion s share of payment delays occur due to time zones, compliance checks, currency controls and absence of real-time processing.