RBI Deputy Governor T Rabi Sankar says rupee internationalisation aims to cut risk, not replace the dollar, as he flags stablecoin-linked currency substitution as a key threat

Internationalisation of Indian rupee is not to replace the dollar but to reduce risk for Indian businesses by enabling more transactions in rupees, Reserve Bank of India Deputy Governor T Rabi Sankar said in a fireside chat with Tamal Bandopadhyay during the Business Standard BFSI Insight Summit on Thursday. Edited excerpts:....