Finance
Mr. BillionhairRBI's Bold Move: Banks to Cash In Big at GIFT City
Folks, listen up! The RBI just made a massive announcement! Banks can now dive into rupee derivatives in GIFT City, Gujarat! This is huge, folks! They’ll be making deals with international players like never before. Cash in rupees or foreign currency—trust me, it’s going to be fantastic! I told you this would happen! Get ready for a banking revolution!
few days ago | Anjali Kumari
Quick rundown
1.RBI's new norms boost GIFT City banking presence.
2.Draft allows rupee NDDCs in IFSC Banking Units.
3.Calibrated liberalisation of India's forex regime.
4.Offshore ETPs restricted to banks with IBU operations.
5.New norms aim to bridge gaps between Indian and foreign banks.
