Regional trade push: RBI allows rupee credit to Bhutan, Nepal and Sri Lanka; extends forex repatriation window
Regional trade push: RBI allows rupee credit to Bhutan, Nepal and Sri Lanka; extends forex repatriation window
The Reserve Bank of India has permitted Indian banks and their overseas branches to offer rupee-denominated loans to individuals and banks in Bhutan, Nepal, and Sri Lanka. This move aims to simplify cross-border trade and payment systems. Additionally, the RBI has extended the repatriation period for unutilized foreign currency balances held by Indian exporters in IFSC accounts to three months.
The Reserve Bank of India has permitted Indian banks and their overseas branches to offer rupee-denominated loans to individuals and banks in Bhutan, Nepal, and Sri Lanka. This move aims to simplify cross-border trade and payment systems. Additionally, the RBI has extended the repatriation period for unutilized foreign currency balances held by Indian exporters in IFSC accounts to three months.
The Reserve Bank of India has permitted Indian banks and their overseas branches to offer rupee-denominated loans to individuals and banks in Bhutan, Nepal, and Sri Lanka. This move aims to simplify cross-border trade and payment systems. Additionally, the RBI has extended the repatriation period for unutilized foreign currency balances held by Indian exporters in IFSC accounts to three months. 
