India Launches Foreign Currency Settlement System via GIFT City By enabling local foreign exchange settlements, India accelerates its shift toward financial sovereignty and reduces reliance on Western clearing networks. What’s New & Why It Matters GIFT City System Launch: India has launched a foreign-currency settlement system in its GIFT City financial hub. Transactions in USD (and other currencies) can now be settled locally, avoiding time delays through overseas correspondent banks. Standard Chartered Role: Standard Chartered India is supporting U.S. dollar clearances under the new framework. Strategic Ambition: This move strengthens India’s capacity to control its own financial infrastructure and signals a step toward…



















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