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"India is the first jurisdiction in the globe that has moved to T+1 settlement (trade plus one day). We are now talking about one-hour settlement and that will be a stepping-stone to instantaneous settlement. And this will be in a reasonably short period of time," said Buch at the Global Fintech Fest.
SEBI is trying for a new initiative where instant trade settlement will be made that would allow trades to be settled immediately, rather than the current T+1 settlement cycle.
Now to india. late last week india signed an agreement with the united arab emirates to allow settlement in trade of rupees and serve dollars. there are reports india's finance minister and her indonesian counterpart discussed a similar proposal ahead of the ongoing 620 proposal ahead of the ongoing g20 meetings in india that are currently under way. these developments come on the back of the indian central bank allowing trade settlements between india, russia, sri lanka and a dozen other countries in rupees last year. these are bold moves, say experts, to push the rupee onto the global stage ...
External Affairs Minister S Jaishankar on Saturday said that India and Tanzania have started trade settlements in local currencies and this new initiative will help in promoting commerce between the two countries. Addressing industry leaders at a function, the minister said India-Tanzania bilateral trade has seen very strong growth, and stood at USD 6.4 billion in 2022-23.
The People's Republic of China settled its first liquefied natural gas (LNG) trade using the yuan, its own currency – dealing a major blow to the petrodollar. The Shanghai Petroleum and [...]