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In early March, Minister of State for Finance Bhagwat Kishanrao Karad informed the Rajya Sabha that the Reserve Bank of India (RBI) has put in place the mechanism for rupee trade settlement with as many as 18 countries.
Source: https://www.thehindubusinessline.com/opinion/perils-of-trading-globally-in-rupee/article66824402.ece
Union Minister of State for Finance Bhagwat Karad is also seen.