India Should Push to Add Its Bonds to Global Indexes: RBI Report
07/05/2023 18:54
India should take steps to include its debt in global bond indexes, allow banking services in rupee outside the country, and review taxes on masala bonds as measures to push for more international use of its currency, according to a report released by the Reserve Bank of India.
India should take steps to include its debt in global bond indexes, allow banking services in rupee outside the country, and review taxes on masala bonds as measures to push for more international use of its currency, according to a report released by the Reserve Bank of India.
Pushing the rupee as an additional settlement currency in multilateral arrangements and promoting a 24X5 global rupee market are among other recommendations in the report on the internationalization of the rupee, by a group headed by RBI Executive Director Radha Shyam Ratho. The views don’t represent the official views of the RBI, it said.