South Asian nations are being talked to by the government and RBI about cross-border trading in rupees: Shaktikanta Das

On January 6, 2023, RBI Governor Shaktikanta Das stated that the government and the central bank are in talks with South Asian nations to allow cross-border trading in the rupee.

He added that the launch of the digital rupee is being done very carefully and methodically by the RBI, adding that the central bank digital currency (CBDC) is now in the trial phase.

“With regard to UPI, we have already reached agreements with nations in this region, including Bhutan and other nations like Nepal, and we’re attempting to offer the UPI facility to make cross-border payments much easier”, Mr. Das said.

This news is written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.