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RBI permits banking units at IFSC to settle NDDCs in rupee
RBI permits banking units at IFSC to settle NDDCs in rupee
The RBI's decision to allow banks to offer Indian residents rupee NDDCs will help eliminate arbitrage between domestic and overseas markets. Banks in India, which operate International Financial Services Centre (IFSC) Banking Units (IBUs), were permitted to transact in rupee NDDCs with non-residents and with each other with effect from June 1, 2020.
The RBI's decision to allow banks to offer Indian residents rupee NDDCs will help eliminate arbitrage between domestic and overseas markets. Banks in India, which operate International Financial Services Centre (IFSC) Banking Units (IBUs), were permitted to transact in rupee NDDCs with non-residents and with each other with effect from June 1, 2020.
The RBI's decision to allow banks to offer Indian residents rupee NDDCs will help eliminate arbitrage between domestic and overseas markets. Banks in India, which operate International Financial Services Centre (IFSC) Banking Units (IBUs), were permitted to transact in rupee NDDCs with non-residents and with each other with effect from June 1, 2020. 
