RBI Governor Advocates for Rupee Internationalisation and Forex Innovation
RBI Governor Sanjay Malhotra emphasized the need for the Clearing Corporation of India (CCIL) to develop infrastructure for trading currency pairs beyond the USD-INR. He highlighted the importance of enhancing offerings to retail investors and leveraging emerging technologies to boost efficiency and security in Indian financial markets.
- Country:
- India
RBI Governor Sanjay Malhotra has called upon the Clearing Corporation of India (CCIL) to establish the necessary infrastructure to facilitate trading in currency pairs beyond just USD and INR, aligning with India's objective of rupee internationalisation.
In an event commemorating CCIL's 25th anniversary, Malhotra urged the corporation to strengthen offerings targeted at retail investors in the forex and government securities sectors. He emphasized the expansion of services on the Forex Retail and RBI Retail Direct platforms to enhance customer experience and operational robustness.
Highlighting CCIL's dual role as a risk management and technology company, Malhotra stressed the importance of embracing innovation to optimize efficiency, performance, and security, reminding that stability, growth, and trust remain paramount for the RBI.
(With inputs from agencies.)
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- RBI
- Currency
- Rupee
- Internationalisation
- Forex
- CCIL
- Trading
- Infrastructure
- Investment
- Securities
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