© Reuters. India plans partnerships with neighbors to expand cross-border payment system; UAE talks underway India is joining forces with neighboring nations to develop its cross-border payment system. Per a Bloomberg report, the Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar revealed plans to integrate India’s mobile payment infrastructure with other countries during a conference in Cebu, Philippines. As a part of the effort, India is collaborating with neighboring nations like Sri Lanka, Bhutan, Nepal, and some other nations while discussions are underway for the possible inclusion of the United Arab Emirates. The RBI is also collaborating with central banks from the ASEAN region, which includes Southeast Asian nations such as Vietnam, to develop a regional instant payment platform. According to the report, the cross-border payment platform will likely hinge on leveraging its CBDC, the Digital Rupee. The RBI views CBDCs as a transformative tool for cross-borde
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