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The Reserve Bank of India (RBI) is intensifying efforts to internationalize the Indian Rupee (INR) by making regulatory changes for non-residents and enhancing the appeal of the GIFT City as an international financial center. The RBI plans to liberalize regulations related to INR accounts for non-residents and allow them to open rupee accounts outside India. ....
The Reserve Bank of India (RBI) is intensifying efforts to internationalize the Indian Rupee (INR) by making regulatory changes for non-residents and enhancing the appeal of the GIFT City as an international financial center. The RBI plans to liberalize regulations related to INR accounts for non-residents and allow them to open rupee accounts outside India. ....
The Reserve Bank of India (RBI) is intensifying efforts to internationalize the Indian Rupee (INR) by making regulatory changes for non-residents and enhancing the appeal of the GIFT City as an international financial center. The RBI plans to liberalize regulations related to INR accounts for non-residents and allow them to open rupee accounts outside India. ....
To be sure, remittances are a source of permanent flows, unlike repatriable NRI deposits, and these help in narrowing the current account deficit (CAD), which has steadily shrunk as a percentage of India s gross domestic product (GDP). ....
India Business News: Overseas Indians sent a record $29 billion back home in the December quarter through remittances, driven by increasing returns from FCNR instruments. ....