In Significant Move, RBI Panel Pushes Internationalisation of Rupee | Vantage with Palki Sharma

In Significant Move, RBI Panel Pushes Internationalisation of Rupee | Vantage with Palki Sharma
A panel appointed by India's central bank has suggested measures to internationalise the Indian rupee. How does a currency become international? How can the rupee achieve this status? What are the challenges? Palki Sharma tells you.
Firstpost | World News | Vantage
#firstpost #vantageonfirstpost #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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[@Firstpost]

We have two brand new shows for you to check out. Flashback with Palki Sharma: kzbin.info/aero/PLEVkQGIATCXLJLVyPJAAUuIEUbdkyZiEq Between the lines with Palki Sharma: kzbin.info/aero/PLEVkQGIATCXLZqGVWVzA7p3QOhkZ545gK

[@user-eg7fl2vd6m]

The channel that promotes bs from india

[@user-eg7fl2vd6m]

Stop spreading bs Go report n help your failed nation's collapsed economy

[@yotubeamit8855]

From humble beginnings come great achievements...

[@jkuang]

Achieve first, then humbly mention it. Not the other way around.

[@yotubeamit8855]

@@jkuang Keep doing you Karma(deeds) Don't worry about the outcome. Concentrate on the process rather than the Achievement. Rome was not built in a day. Wait and watch.

[@jkuang]

@@yotubeamit8855 Typical Indian voodoo.

[@yotubeamit8855]

@@jkuang Nice excuse when no reply.

[@yotubeamit8855]

@@jkuang You don't have the mental capacity to understand Indian/Sanatani culture. it's ok don't stress.

[@GururajBN]

A short while back, I saw another video by Shekar Gupta, wherein he informs that under pressure from Russia, India is making part of the payment for Russian oil in Yuan! Russia has accumulated a mountain of rupee credit and India just does not export whatever Russia needs. So, we are not quite there yet to make the INR an international currency.

[@vikaspal2429]

One of my dream is- speak (narrate)just like palki What a communication skill Hats off you palki❤

[@cssrao4992]

Perfect lucid valuable analysis Keep up the good work

[@rahulpaul948]

Well explained Palki Ji. Awesome 👍

[@anithakulangara6998]

That was a simple, clear, and crisp presentation. I liked it a lot

[@orientalguy9462]

I think India should wait for now, it should grow its economy for upto 10 trillions first.

[@siajaiswal9171]

Recession is about to hit US according to me India should slowly start internationalisation...and yes it would take time no matter how rigorously it has been done.

[@orientalguy9462]

@@siajaiswal9171 my problem with making ₹ a completely convertible international currency is that, Anyone can devalue the rupee by short selling, like once Soros did with British £, and since India is an developing economy its effects would be far greater on our economy otherwise I'm all for making ₹ a totally convertible international currency.

[@siajaiswal9171]

@@orientalguy9462 actually yes inr is partially convertible and volatile too creating 0 trade deficit might cope with de-dolarisation

[@joem0088]

Reporting should be fact based, not FAD based. The Rupee is under the 1999 FEMA Currency Exchange Controls Act. How can it be truly internationalised unless you repeal this act ? India does not produce enough variety of goods for outside Rupees to buy, hence Russia has stopped selling oil to India for Rupee, demanding RMB instead. You can trade with your neighbour with your local currencies sure, but that it not a "Global Rupee". India doesn't even have a designated rupee clearing bank in every country in the world.

[@pavankumarramabhotla6623]

Not to mention tendency if govt to enact hare brained ideas like Demonetization and the RBI to rubber stamp the movies

[@sunilkumarcheruvu]

Agreed, manufacturing still needs to pickup for rupee to be global. News channels needs to exaggerate sometimes :)

[@mgronich948]

This is going nowhere. Russia has ~140 billion rupees it can't spend because India doesn't make enough stuff Russia wants to buy. Apple tried to diversify by setting up a factory in India. This was a bust and the factory closed. What is the basic problem? It's corruption in India. How can the Rupee become an international currency, when you can't buy anything with the Rupee?

[@rajx7120]

Apple factory is not closed. Don't spread fake news. Apple is increasing more factories.

[@rajx7120]

Corruption is not the problem. Socialism is the problem. Socialist restrictions on manufacturing is the problem. China has done state capitalism. But China has lot of corruption too.

[@poohthegreatslayer]

Apple is still manufacturing in India. Their aim is make 18% iphones in India. Don't spread rumours , know the truth

[@fuzzylogic3017]

@@rajx7120 China is a thousand times more socialist than Bharat - one need only look at the role of state-owned enterprises in its economy to see this. The real difference is neither corruption nor 'socialism', it's the nature of the State. China has an East-Asian style developmental state, whose bureaucrats are infused with a nationalistic ethos that aims at pursuing the greater good of the country. We have a postcolonial state, like Africa, whose bureaucrats imbibed the exploitative ethos of their colonial precursors - and merely consider how to obtain the maximum benefit for themselves and their cronies, with minimum effort - leaving the national interest to someone else. That's why they're content with running antiquated rail lines, while their Chinese counterparts build bullet trains. Until India makes a clean break with the colonial past - starting with shifting the capital, little will change.

[@jacklouie8096]

Try to con people

[@vaikuntamsrinivasan877]

Excellent home work. Keep up good works

[@56dby5]

If the Rupee value goes up, then it will become expensive for manufacturing… not idle for a manufacturing country

[@williamrodriguez3908]

You are the best reporter in the world 🌍. Palki the Queen of KZbin ❤❤❤)

[@trekpac2]

With India being a part of BRICS and this organization set to have a much larger global footprint by admitting 5 to 10 more countries in the next 4 years, India could make much use of the New Development Bank which is close to announcing the formation of a new currency based on a basket of currencies , backed by gold and resources. How could this be a major vehicle for India in its push to depolarize? Any thoughts, please?

[@chitranjankumarkushwaha4259]

@nellas1stopshop238 nice joke india is founder member of brics without india brics has no significance.

[@wionporky9937]

India is more of a disruptor than a contributor. Replace India with Indonesia. 👍👍👍👍👍

[@abilashrajan4851]

Massive move, much needed one...

[@monaxp606]

I think India needs far far to reach in every direction before rupee goes international.

[@PKar03]

Good thought

[@manaoharsam4211]

Increase exports, improve GDP, increase infrastructure, promote a Democratic values,, be self reliant like Defense , computer chips etc. Yes improve technology. Then Rupee will gain ground.

[@jamjam6063]

We should include indian ruppee in SDR, ofcourse it'll take time but we should start trying. And having only 2% share in global export is pathetic, we have to push harder.

[@ghtwghtw7197]

Yuan is the new international currency. Even india using it for major purposes.

[@raptor6104]

Slowly dollar needs to fall. And then we can rise. Dollar is too overrated and overpowered since start. The whole world was fueling America's growth, and it made comments saying India and China are dirty. They are arrogant without knowing their roots come from immigrants. Native Americans are dumb.

[@omkardhange2310]

Hw cm rupee weak against those currencies of countries which are smaller and hv low gdp..?

[@chandrasekhar4866]

It seems all the propaganda machines are here to comment. She clearly mentioned the challanges and limitations. she didn't say Indian rupee is global currency already.

[@shaktiashishus]

Point 3... we can follow chinese footprint.. they have 2 currencies.. one for domestic market and one fully convertible handled thru Hong Kong.. I am sensing Bharat will do that and hub will be GIFT city...

[@kickass7104]

I don't think India is ready to challenge these currency 😑😑

[@anandp.r2067]

Bro we never give up. Once we stepped-in

[@laoxianmodi]

Possible or not possible is all different story. But being pessimistic defeats you before you even start 😂

[@anandp.r2067]

@@laoxianmodi Ok. But not for Modinomics

[@laoxianmodi]

@@anandp.r2067 modi or no modi all that doesn't matter. But being a pessimist defeats you even before you start

[@anandp.r2067]

@@laoxianmodi Are u from 🇨🇳 or 🇹🇼

[@rejiaudit]

This is a quite different take on the subject, more realistic. Interesting to check her old videos on the subject

[@shanmugamanandvel3075]

I am happy to see Indian rupee .This will be the first step for free travel and no carrying USD which is not backed by gold.

[@hassobhatia990]

Full convertible Rupee will drop to 1 cent overnight. The current reserves of $500 billion 😢will vanish as Indian industries will take the money and run..Another demonetization..type effect..

[@williamrodriguez3908]

Refreshening my eyes with the most beautiful eyes I ever seen. ( The Queen of KZbin Palki ) 2023 )

[@praveenprakash1879]

❤👍

[@PJ-yp3vb]

A journey of a thousand miles begins with the first step.

[@Utube1024]

Second step drop into the hole

[@PJ-yp3vb]

@@Utube1024 You have to be blind and stupid to do that.

[@vignesha8667]

If Rupees can be internationalized successfully.Then it will be a great opportunity to become a superpower. We must never give up hope and act accordingly. Now its time for India to rise. For example, the UPI has gone world wide right now, it was successful. So one day Ruppee will be an international currency having a great value.

[@j.r.6517]

What's happening in Manipur.

[@vignesha8667]

@@j.r.6517 Bro Manipur consists of different groups of people. The immediate provocation for the ethnic unrest appears to have been the demand for the Meitei community, which accounts for 53 percent of Manipur’s population and primarily inhabits the Manipur Valley, to be included in the ST list. People of the same ethnic group from across the border in Myanmar, have entered India, fleeing violence and persecution, and the government’s tough stance against these so-called illegal immigrants has angered the Kukis, whose kin they are.😓

[@zkfnd859]

Correction: Nepal doesn't strictly use INR per se. It buys INR using USD, and then trades in INR. So until and unless some bilateral agreement on using both Nrs and INR happen, INR will be un-popular even amongst it's friendly neighbours. Something already happening in Nepal. Nepal doesn't use INR above and including 500 designation notes. Similarly, while the fixed exchange rate of 1 INR=1.6 Nrs, however, on the ground, excluding strictly formal channels, the INR is trading at 1 INR= 1.45~1.5 Nrs.

[@ankitanandy6076]

Nepal is getting less friendlier.

[@zkfnd859]

@@ankitanandy6076 Not really, the Nepalis are seeing no use of INR in reality. Previously held INR foreign reserves in Nepal, have been left obsolete after frequent demonitisations and with India first promising to exchange the old notes and stalling on it till now. INR has less trust in Nepal despite the trade between Nepal and India being high. In contrast to say Russia, who argues it has no USE of the INR reserves.

[@ankitanandy6076]

@@zkfnd859 demonetisation happened just once, and China is buddying up with Nepal. There are several other political factors.

[@zkfnd859]

@@ankitanandy6076 Quoting General Sokin Chauhan : " If anyone thinks, that ISI or for that matter China has a grip on Nepal,.... ......although its a different matter that China is a direct neighbor of Nepal, and both have a long history of relationship with each other....this sometimes we in India tend to forget,..... ......If anyone thinks ISI controls Nepal, then what is our RAW doing....I mean we control the shots in Nepal, to a degree or another from heads to toe...... And I tell you what our media have made news into daily soap opera, with riduculous narratives like affair of Oli and the Chinese Ambassadors..... We need to tell Nepal what our concerns in regards to China are, and we have told them that..... and most are related to in India's perspective, Nepal being this huge physical buffer. As long as the cultural and people to people relations foster, there is no need to absolutely worry about Nepal . You will see marriages happening between Ind-Nepal, you will see the OPEN border and mind you it is OPEN border and not a POROUS border.... Our concerns are a few security related......"

[@ankitanandy6076]

@@zkfnd859 i am very well aware what an open border is, but you seem to have left out major clashes of a cultural nature that has happened since the royal family was massacred. You love to blame India be so, that is not the entire picture.

[@shobadasari5363]

How does trade deficit affect internationalisation of the rupeee in a multipolar world? Could you please explain ?

[@kosisangram]

If Indian exports are more, the importers would be willing to pay in Indian currency, strengthening Indian Rupee. And vice-versa. Our target should be to increase the exports and inturn decrease the trade deficit.

[@RamAliSinghJoseph1429]

Rupees time will come..... Question is that how long that would take????

[@rathanapparathanappa5077]

Gradually INDIAN exports should be enlarged. INDIAN Rupee should grow stronger & remains a steady growth.

[@brendafulmernickel1218]

The Quality of Currency Matters Most!

[@BLUERAY1611]

You meen quality of the currency paper?

[@brendafulmernickel1218]

@@BLUERAY1611 yeah! 🤣

[@BLUERAY1611]

@@brendafulmernickel1218 Talking about quality of currency, I like polymer paper used in canadan dollars.

[@brendafulmernickel1218]

@BLUERAY1611 it's hard to Trade with PAPER!

[@shashankkumar2896]

❤❤❤❤❤

[@hozefaayyajiwala3831]

India's exports is at 2.29% as per the data referenced and stands at the 13th position globally. I dont know how it can then think of internationalising. We should get our exports above 7% in global share and then it would be a cakewalk

[@krishnaprabandh]

Indian exports grew from 375bn to 775bn in 13years? Now consider average inflation , probably value of goods in the end is mostly same! Not great news for sure.

[@satishcjha]

XRP the bridge currency, matter of when not if

[@maxromy5018]

So this explain that the chines dollar should be trade around the world

[@nikhilnaik5402]

whole system is a mess in this country and the world knows where is the weeknes of this country. like always our country is compared with Pakistan . and were paying the price for it right now. usa Europe treating india like a pawn for long time and continue to do so. from back speaks a lot about their intentions. no one wants india to be a developd country even our own people are involved to bring the country down. no matter how good they are from out side they don't like india to become like china. as individuals we have to live what we have got and try our best to do better in our life & stay United to take this country to better future jai hind.

[@sidd3741]

Ha ha RBI is trying to stabilize rupee😂😂😂😂😂😂😂😂 Usd to inr always😂

[@joseloor4762]

Finally

[@zenrahim]

SDR Yes

[@Vestigexx]

Rupees time will come. Yes, 20 years from now maybe. Still far from internationalization.

[@ZONALMUSIC]

During USA ression from 2022 November all currency easily moved against dollar But rupee not even pulled 3% down side How can they tell rupee is such stronger currency

[@waltershearls]

😂😂😂 Could you name those currencies, please? The USA economy grew in Q3 Q4 in 2022 and Q1 2023. Also, it is forecast to grow by 2% in Q2 2023. Dollar settlement has gone up this year despite claims of de dollarization.

[@technoganga1321]

First India should import gas oil from Iran in rupee.Iran offers again and again India.they want rupee but Indian government not interested due to fear of west.if India import gas and oil from Iran the price of gas and oil will be less and value of rupee increase

[@ishakajalloh2090]

It has done it to Russia, but without success.

[@3zmAM239]

What will Iran do with those large sum of Indian Rupee daily from oil sales in future ? They cannot buy anything from a third country which was the case with Russia Rupee oil trade recently ... now Russia is stuck with enormous amount of Indian Rupee in their vostro account ( frozen oil sale revenue ) which needs to be converted into any international SDR currency in the coming years or months to be used for purchase of goods and services from other countries and / or transferred back to Russia as an international currency ( currency exchange losses imminent. and Indian regulatory approval required for large sum exchange to non sanctioned international currency YUAN ) India does not have any clearing bank on Russian soil either to make things complicated

[@ishakajalloh2090]

@@3zmAM239 They don't know how where to put the Rupees, so that it can be use just like the Dollars. They want to use the Rupees as global, want to abandon the Dollars, at the same time, want to be in the Btics single Currency. Also, they want India to be ahead of the Countries that more stronger than India. Giving Rupees to Russia, which Russia can not use it, now talking about Giving it to Iran, or elsewhere. They end up using the Chinese Yuan, which China also is happy to make profits from that, cuz it will sell the Yuan to India with a very good price, cuz it's the only option for India. To put the Dollars down, is not going to be easy, even with Brics single Currency.

[@silentwatcher1455]

Indian rupee is not accepted by many countries.

[@SERGIO-cr6uy]

What is a rupee? I thought india used gift cards as currency.

[@MoModeMoN89]

How is the rupee gonna be an international currency when India lacks the ability to make its currency attractive. USD is the world reverse currency, and basically the main currency use to trade for oil. The Chinese Yuan, can be used to trade with China exports which is basically almost everything used for day to day necessities. What does the Indian rupee offer beside buying limited indian exports? Your currency popularity depends on your economy power and India economy is nowhere near the top positions for its currency to even be popular

[@judewarner1536]

Some Indian coins used to have holes in the centre so they could be used as washers. Seems like a better idea than trying to become a global currency.

[@anandp.r2067]

Thanks for the mockery

[@kosisangram]

Your brain seems to be having a hole too, get it checked, it's for your own good you know 🤣

[@prakash.srn.17]

😂😂

[@ankushverma8625]

Which coin you are talking about, is it from your country 😂

[@anandp.r2067]

@@ankushverma8625 I think he talking about 1,2,5,10 annas during British-Indian times. Those days have holes in it

[@Chandankumar-qw6hb]

🎉global currecncy

[@jencruz7740]

India trying hard to trade in Rupee next time in gold 😅

[@jaisriram295]

Need to keep the rupee weak to supercharge the Indian economy the same way that China did with the Yuan for 20 years

[@kashmiripundit5455]

first change the paper of ghatiya quality , have some standard quality paper for rupee , thereafter try these things which are far from reality dreams .

[@ronaldpeter2046]

Self boosting, buying Russian oil in Yuan instead of rupee. Small player trying to acts great and still a long way to go....20 to 30 years might possible be the right time to boost🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

[@TheConduit10]

Got to take Ghandi off it.

[@david-bd6td]

Rupees can never compete with Yuan based on the facts that Yuan currency circulation is everywhere because China is the largest importer and exporter even surpassing US , therefore Yuan is far more relevant, almost every county trades with China which is the world factory ...😅

[@raptor6104]

Dollar need to fall first for other currencies to get up there. It is overpowered from the start and world was fueling its economy and growth. But at the end it only had ignorance and arrogance to offer, by comments like China and India are dirty(pollution). Let Yuan compete it for now.

[@avantidesai6655]

call back our diplomats and send theirs back…

[@keymarkcreatives3740]

Global Rupee? I mean, LOOOOOOOOL.. REALLY?????????????????

[@csplau]

Indian won’t be able to challenge USD

[@agsubmani]

USD is Dead and it is Searching for Burial Ground.

[@petebell271]

first ask banks to give good customer service , iCICI bank ( bunch of stupid people) took 3000 rs to give loan and asking phone messages to log in and upload my documents….

[@ekleong8]

Russian don’t want rupee!

[@aburetik4866]

lndian rupee should be the global currency. Good for buying c0w dunng.

[@nicolasflamel3489]

you can't even afford that. Even for that you need an IMF loan.

[@yotubeamit8855]

From humble beginning comes great achievement

[@watb8689]

another pipe dream.

[@arka.mahalanobish]

Remove Gandhi bring Netaji, thigs will start working then 😂

[@Vivansha_Kshatriya]

Where is the 🇺🇲US$ to be taken to ❔️❔️❔️will it go to 🚽❔️🚽❔️🚽❔️

[@jkuang]

India produces about 2% of the global trade. On what remote sense that Indian Rupee can be a global currency? Because Palki said so? LOL 😁🤣

[@Jitendrapas1]

Chinese bot spotted 😂

[@vikate2748]

It's 2 percent of global export.. Not 2 percent of your family budget 😂😂.. The country is 75 yr old baby, while others well into adulthood and masterbating since none of them were colonized and had US blessings 😂😂

[@KarmaMyAss]

Chinese currency is also not a global currency yet. So, stop gloating unnecessarily. 😂😂

[@ronaldpeter2046]

So boastful, India should take a hard look in the mirror first before your propaganda (Firstpost) machine spring into action.

[@KarmaMyAss]

@@humpydumpy2432 don’t worry, covering a news unbiased is not boasting. She is just presenting facts what RBI is doing. Not cooking things like what propagandist Chinese media does from time to time.

[@thinktank8471]

Ha Ha

[@ronaldpeter2046]

Self boosting, buying Russian oil in Yuan instead of rupee. Small player trying to acts great and still a long way to go....20 to 30 years might possible be the right time to boost🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣.

[@kwalelalipimile3894]

Lol

[@DgurlSunshine]

HA HA NOPE

[@Delta4Life]

Bitcoin is the solution ❤

[@BLUERAY1611]

No, ButtCoin is the solution.

[@daddu1983]

In comparison to 2010 how much percentage change occur, I guess none, so no growth actually its only Inflation

[@CJ-mx6it]

Jesus is returning soon. Biblical prophecy is coming true before the world's eyes.

[@ABBZ120]

What else to expect from an abrahamic follower

[@madmaxfury7702]

Indian rupee a world currency 😂😂😂 Keep dreaming lol

[@Rav01508]

Countries need US dollars in order to purchase oil (excluding Russia). Countries need Chinese Yuan in order to import Made in China. What do you think countries would do with rupees? Buy curry powder from India? 😂

[@ZFD-ef7kp]

cow dung

[@rullence2935]

Go to sleep

[@lioneltayas3251]

soon india will be the next pakistan🤭

[@Rav01508]

Modi: We would like to use our rupee to pay for your oil Putin: We don't accept toilet papers so sorry, please use Chinese Yuan. We need them to buy Chinese goods

[@daddu1983]

In 2010, India ranked 15 in global export with 2.1 percent In 2020 India ranked 13 with 2.29% Where's doubling, wrong news again Please compare gold rates in 2010, nearly 14K, now 60k, almost 4 times, so to beat inflammation we should be four times to be on exact same page forgot double exports

[@kaye_07]

TF you talking about? Gold rates in 2010 - $1200, now - $1900 Why would we bother with INR inflation when talking about Indian exports in USD? 💁 Ofc India needs to fast track its efforts, but misleading stats would not help in any way.. 🙏:)

[@Utube1024]

Exporting products same value as of curry powder want to internationalize rupee

[@renthokstu]

Why do all these chinkabots flock to any video Palki makes abt rupee I wonder? Lmao. Thing is you dont even have to bother refuting this if u really think this isnt a possiblity but in fact you are in the comments proves otherwise. 😚

[@ronaldpeter2046]

Self boosting, buying Russian oil in Yuan instead of rupee. Small player trying to acts great and still a long way to go....20 to 30 years might possible be the right time to boost🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣..

[@ronaldpeter2046]

Self boosting, buying Russian oil in Yuan instead of rupee. Small player trying to acts great and still a long way to go....20 to 30 years might possible be the right time to boost🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣..

[@ronaldpeter2046]

Self boosting, buying Russian oil in Yuan instead of rupee. Small player trying to acts great and still a long way to go....20 to 30 years might possible be right time to boost🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣......

[@ronaldpeter2046]

Self boosting, buying Russian oil in Yuan instead of rupee. Small player trying to acts great and still a long way to go....20 to 30 years might possible be the right time to boost🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣......