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India weighs Russia’s ‘doable’ proposal on `SWIFT’ alternative

September 8th, 2024
Categories: News

Link: https://www.thehindubusinessline.com/economy/india-weighs-russias-doable-proposal-on-swift-alternative/article68597907.ece

Rupee-rouble trade settlement would be more efficient with financial messaging system. Russia’s proposal to India to use its own financial messaging mechanism – developed as an alternative to the SWIFT global network – to help push rupee-rouble trade settlement, has been scrutinised by the RBI and found “doable” but discussions continue, sources have said.

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