since the Second World War, playing a crucial role in the world's trade and financial system.
Although RBI said the working group's recommendations do not reflect its official position, they come a year after In its Wednesday report, the RBI working group encouraged the opening of rupee-denominated accounts for non-residents in India and overseas. It also recommended the integration of Indian payment systems with those in other countries for cross-border transactions.
In its report, the RBI highlighted the US needs to maintain its obligations and responsibility as the issuer of the reserve currency but, when forced to choose between its own interests and those of the rest of the world, the American government has in the past"not hesitated to protect its own interests."
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