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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

Jun 07, 2023, at 05:54 am

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.