{"id":217311,"date":"2025-01-17T06:09:41","date_gmt":"2025-01-17T06:09:41","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/17\/foreigners-can-open-rupee-a-c-in-overseas-indian-banks-times-of-india\/"},"modified":"2025-01-17T06:09:42","modified_gmt":"2025-01-17T06:09:42","slug":"foreigners-can-open-rupee-a-c-in-overseas-indian-banks-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/17\/foreigners-can-open-rupee-a-c-in-overseas-indian-banks-times-of-india\/","title":{"rendered":"Foreigners can open rupee a\/c in overseas Indian banks &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i0.wp.com\/static.toiimg.com\/thumb\/msid-117314968,imgsize-567014,width-400,resizemode-4\/117314968.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Foreigners can open rupee a\/c in overseas Indian banks &#8211; Times of India\" title=\"Foreigners can open rupee a\/c in overseas Indian banks &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>MUMBAI: The Reserve Bank of India (RBI) has announced new rules to encourage the use of rupee in <!-- -->international trade and investment<!-- -->. These changes allow foreigners to open <!-- -->rupee accounts overseas<!-- -->, making it easier to use the local currency for <!-- -->cross-border transactions<!-- -->.<br \/>The amended norms allow overseas branches of banks with authorised dealer licence from RBI to open rupee accounts for people who live outside India.<\/p>\n<div class=\"Wh0Gu\">\n<h2>Saif Ali Khan Health Update<\/h2>\n<\/div>\n<p>These accounts can be used to make payments or receive money for approved activities involving people in India.<br \/>&#8220;The ability to open bank accounts in the currency of a country outside that country is a foundational element of the internationalization of a currency. This will accelerate the move towards invoicing and settlement transactions internationally using the rupee. The use cases and ecosystem are only going to grow,&#8221; said Srinivas Varadarajan, MD &amp; head- global emerging markets, Deutsche Bank India.The move comes at a time when the rupee has come under pressure due to a stronger dollar and exiting foreign portfolio investors. Internationalizing the rupee can mitigate the <!-- -->exchange rate risks<!-- -->, reduces pressure on foreign exchange reserves, and improve India&#8217;s current account balance. It also addresses geopolitical risks arising out of sanctions on trading partners.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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These changes allow foreigners to open rupee accounts overseas, making it easier to use the local currency for cross-border transactions.The amended norms allow overseas branches of banks with authorised dealer licence from RBI [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":217312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-117314968,imgsize-567014,width-400,resizemode-4\/117314968.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[3331,171351,171350,20496,171349,273,1025,171348,171347,39,20084,171346,5674,171345,171344,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/217311"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=217311"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/217311\/revisions"}],"predecessor-version":[{"id":217313,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/217311\/revisions\/217313"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/217312"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=217311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=217311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=217311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}