India Eyes Rupee Lending to Sri Lanka in Push for Regional Currency Dominance - LNW Lanka News Web

RBI Moves To Internationalise Indian Rupee: Strategic Push For Global Rupee Lending - EBNW Story

The Reserve Bank of India (RBI) is taking significant steps toward the internationalisation of the Indian Rupee (INR). In a strategic move, the central bank has sought approval from the Government of India to permit domestic banks to lend in rupees to overseas borrowers—a proposal that could redefine India’s regional trade dynamics and reduce reliance on foreign currencies. What Is the RBI’s Proposal? The RBI’s proposal allows Indian banks and t…

India Eyes Rupee Lending to Sri Lanka in Push for Regional Currency Dominance - LNW Lanka News Web

By: Staff Writer May 29, Colombo (LNW):In a move that could significantly impact Sri Lanka’s trade and financial ties with India, the Reserve Bank of India (RBI) has proposed allowing Indian banks to lend directly in rupees to overseas borrowers, with Sri Lanka among the key target countries.The proposal, submitted by the RBI to India’s Finance Ministry last month, seeks approval for domestic banks and their foreign branches to issue rupee-denom…