First ever crude oil transaction in local currency undertaken between India and UAE

Aug 14, 2023

This is India’s first-ever LCS and is expected to reduce transaction costs and time and increase reliance on local currencies. This will further add...

No proposal for BRICS currency as of now, local currency settlements remain focus

Sep 12, 2026

There is no proposal at present to introduce a common BRICS currency, while discussions on settling bilateral trade in local currencies will continue as...

Embedded finance can drive next phase of financial innovation, inclusion in India: ORF Report

Jan 01, 2026

Embedded finance has the potential to emerge as a cornerstone of India's next phase of financial sector innovation and inclusion, helping democratise access to...

Businesses should bear modest UPI transaction costs, govt cannot subsidise everything: NITI Aayog VC Lahiri

Sep 16, 2026

NITI Aayog Vice Chairman Ashok Kumar Lahiri on Wednesday said businesses should bear modest UPI transaction costs, arguing that the government cannot subsidise every...

Israel: New program expected to reduce home mortgage costs

Mar 18, 2024

The ministry called this "an important step aimed at removing barriers to the entry of additional players into the housing credit market."

IMF rejects Pakistan FBR's request to reduce transaction taxes for property sector

Mar 24, 2025

The International Monetary Fund (IMF) has rejected Pakistan's Federal Board of Revenue's (FBR) request for reducing transaction taxes for the property sector for the...