In January 2025, the Reserve Bank of India (RBI) introduced several steps to encourage the use of the Indian Rupee (INR) for cross-border transactions. Which of the following measures is part of the efforts to promote the use of the Indian Rupee for settling cross-border trade and investment transactions?
1
Introduction of Special Rupee Vostro Account (SRVA)
2
Revisions to the Goods and Services Tax (GST) Regulations
3
MoUs with the central banks of the United States, Canada, and Australia
4
Exemption of Indian exporters from paying taxes on foreign currency earnings
5
Removal of restrictions on foreign investment in non-debt instruments