Consultants urge govt to allow local deals involving foreign currencies via RBI

Consultants and service providers are urging the government to avoid routing domestic deals involving foreign currencies, such as dollars, through the US banking system. Currently, transactions in USD within the country incur a transaction fee. K K Kapila, chairman of Intercontinental Consultants and Technocrats (ICT), highlighted that even local transactions, like from Delhi to nearby Faridabad, must go through the US banking system.
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