📰 India Finance Update – October 7, 2025
Big Moves in India’s Financial Landscape: RBI Reforms, GIFT City Launch & Growth Outlook India’s finance sector witnessed major developments this week, signaling the country’s push toward a more globally connected and resilient economy. From the Reserve Bank ’s regulatory reforms to the government’s focus on growth and new settlement systems, here’s everything you need to know. 🇮🇳 India Launches Foreign Currency Settlement System via GIFT City India has officially launched its foreign currency settlement system through GIFT City — a big step toward reducing dependency on overseas banking networks . This system allows foreign currency transactions (like USD) to be cleared locally within India. Standard Chartered Bank will handle dollar settlements under this framework. 💡 Impact: This move strengthens India’s financial independence and positions GIFT City as a global financial hub competing with Singapore and Dubai. 🏦 RBI Grants Self-Regulatory Status to NBFC ...