The Reserve Bank of India has reportedly urged major state-owned oil refiners, including Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp., to persuade Persian Gulf suppliers to accept at least 10% of oil payments in rupees in the next financial year. The move aims to boost the Indian currency in international trade and reduce dependence on dollars. However, oil exporters are hesitant due to currency risk and conversion charges. Read The Rest at :
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