May 05, 2024 16:56 (IST)
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RBI allows International Banking Units in Gujrat's GIFT City to settle NDDCs in INR

RBI allows International Banking Units in Gujrat's GIFT City to settle NDDCs in INR

Mumbai: The Reserve Bank on Tuesday allowed international banking units (IBUs) located in GIFT City, Gujarat, to settle non-deliverable foreign exchange derivative contracts (NDDCs) using the Indian rupee.