The rupee settlement mechanism continues to face major roadblocks with little or no trade taking place in the domestic currency. This is in spite of the fact that banks from 18 countries have been permitted by the Reserve Bank of India (RBI) to open Special Vostro Rupee Accounts (SVRAs) for settling payments in Indian rupees.
The Russian idea is to break this stalemate through a three-way payment mechanism, which works in the following way: Russia sells oil to India in rupees; India makes the rupee payment to the UAE; and Russia then buys UAE goods or services against that payment.
Diese Geschichte stammt aus der March 30, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der March 30, 2023-Ausgabe von Mint Mumbai.
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Quick Edit: The market's green role
The world needs to bend its rising curve of carbon emissions, a goal that's proving elusive. Adding to the challenge, US climate policy is likely to flip back into neglect mode next year.
Growth shouldn't suffer for want of a market fix
Packaged food companies should drive a food-processing revolution and run a campaign for substitution of fresh-veggie demand. It'll crush price volatility and open up space for rate cuts
We should reform import tariffs to boost Make in India!
Tariff reforms to resolve duty inversions can arrest the 'cost competitiveness leak' of Indian manufacturing
Trying to quantify everything may worsen human decisions
'Quantification fixation' is real—and we should learn to resist it
Hope has sprung anew amid the thick haze hovering over COP-29
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Trump's return is set to send the world scouting for fresh options
His confrontational stand on issues will ruffle feathers and make nations review their alignments
Why national pride has not helped clean up Delhi's air
A sense of shame was expected to get it done. That hasn't worked. Do we lack the will and talent?
SEBI CAN DO MORE TO DISSUADE RETAIL F&O SPECULATION
A recent Securities and Exchange Board of India (Sebi) report highlighted the significant losses individual traders have incurred in the equity futures and options (F&O) segment between FY22 and FY24.
Is filing ITR in old regime still valid?
I am with the Indian Army. Until last year, we received Form 16 under the old tax regime, including allowances such as HRA, travel and uniform.
Avoid common mistakes in NRO, NRE accounts: A guide for NRIs
Tips on using NRE and NRO accounts to effectively manage funds, repatriate money and remain tax-compliant
