RBI Looks Forward to Expanding RTGS Transactions in Major Trading Currencies
Monday, 14 October 2024, 03:46
The Future of RTGS Transactions in Major Trading Currencies
The Reserve Bank of India (RBI) is making strides in the financial sector as it looks forward to settling RTGS transactions using major trading currencies. Governor Shaktikanta Das emphasized the feasibility of extending Real-Time Gross Settlement Systems (RTGS) to accommodate prominent currencies, such as the US dollar and the euro.
Enhancing Economic Efficiency
- RTGS systems provide a platform for instantaneous transactions.
- Major trading currencies are essential for bilateral trade agreements.
- This expansion aims to streamline international payments.
As the RBI moves forward, the focus remains on optimizing transaction speed and security in the dynamic landscape of finance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.