Question

What is the significance of the RBI-Maldives Monetary

The MoU allows trade settlements in INR and MVR, enhancing financial efficiency and reducing reliance on third-party currencies like USD.

Authority (MMA) MoU on local currency usage?

A Allows only Indian companies to operate in the Maldives

B Facilitates INR-MVR trade and reduces settlement costs

C Replaces USD with INR for global transactions

D Establishes a bilateral tax-free trade system

E Implements cryptocurrency-based settlement

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