The RBI is considering expanding the RTGS to include international payments in major currencies like the US dollar, euro, and British pound.
This could make cross-border transactions cheaper and faster, benefiting businesses and individuals.
The governor suggested that this expansion could be done through international agreements to reduce the high costs of cross-border remittances.
The goal is to reduce the high costs of cross-border payments, which the RBI has criticized as being unreasonably expensive.
Currently, India has cross-border payment links with Singapore, UAE, Mauritius, Sri Lanka, and Nepal.