Standard Chartered Plc is set to become the primary settlement bank for real-time dollar-denominated transactions in India's emerging financial hub. This move places the bank at the forefront of facilitating international trade and investment in the region.
It is believed that Standard Chartered's selection is due to its strong capabilities and experience in managing foreign currency transactions, which are vital for businesses involved in cross-border trade. The development is expected to improve the efficiency of dollar settlements in India, further integrating the country into the global financial system.