India and Tanzania have received approval from the Reserve Bank of India (RBI) to utilize their respective national currencies in bilateral trade settlements. This move is anticipated to decrease transaction costs and improve the effectiveness of cross-border trade, resulting in higher trade volumes and increased economic collaboration between the two nations.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
To discuss the benefits of this bilateral trade mechanism that uses local currency, the Indian High Commission in Tanzania is organizing a Stakeholders Consultation Meeting on March 24th, 2023. This initiative aligns with the RBI’s goal of promoting the use of domestic currencies in cross-border transactions to decrease reliance on foreign currencies, particularly the US dollar.
Cristiano Ronaldo, despite nearing the twilight of his career, has secured the top spot on…
SEBI has introduced significant amendments to its Listing Obligations and Disclosure Requirements (LODR) regulations, focusing…
In the latest move against perceived infringements on its territorial claims, China has sanctioned Boeing…
World Bee Day, observed on May 20, marks the birth anniversary of Anton Janša, a…
The Insurance Regulatory and Development Authority of India (IRDAI) has made significant adjustments to the…
SBI General Insurance, the non-life insurance arm of State Bank of India (SBI), has launched…