‘It will take decades’: RBI Governor on Rupee’s Internationalization Prospects – CNBC TV18

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Monday (August 25) said that the interactiveness of the rupee is a silent process and “it will take decades”

Delivering the inaugural address at Fibac ‘Charting New Frontiers’, Malhotra Said, “We have agrements with four counties – Maldives, Mauritius, INDONESIA, UAE – With Is Happening in Local Currentice

Malhotra stressed that Internationalising a currency requires both time and sustained efforts, adding that the journey for the rupee would be slow.

“It’s a slow process and it will take decades for trade to happy in Local Currency,” He said.

The central bank has been encouraging the rupee in cross-border trade to reduce reliance on the us dollar and shield the economy from sharp exchange rate sweets.

In July, Malhotra Had Said Operational Arrangements was alredy in place with the uae and that discusations were advancing with the maldives, backed by a signed memorandum of undressing.

According to Kushal Rastogi, Founder & CEO of Knight Fintech, India’s Push to Internationalise The Rupee is “a strategic move rooted in both economic resilience and geopolitical rebalancing.”

He said the combination of growing global de-dollarisation, India’s digital payments infrastructure, and the RBI’s Progressive Stance on Cross-Border Payments Systems Make The Rupee’s Role in Global Commerce. “

On the RBI’s proposal to allow rupee-denominated lending to neighbouring counts, rastogi said this single “Fundamentally Reshape Regional Trade Dynamics” Settlement Efficiency, and Position India as a Financial anchor in South Asia.