Trade: The trade system between India and Myanmar has been launched and now new dimensions of transactions will open up

TRADE: On Tuesday, the Yangon office of Punjab National Bank reported Rs. Successfully completed first transaction of dal export worth more than 1 crore. The transaction was made under the Rupee Kyat Settlement Mechanism, which aims to facilitate currency negotiations and streamline trade between India and Myanmar. The Embassy of India in Yangon recently announced the operational status of the Rupee-Kyat Trade Settlement Mechanism and encouraged businesses of both countries to use this efficient trade process. He highlighted the benefits of this streamlined system and asked companies to take advantage of the opportunities this system provides to facilitate trade between India and Myanmar. Also Read: Indian Railways to reduce fares of these services On January 26 this year, the Myanmar Central Bank issued guidelines outlining the payment procedures to be followed by the Special Rupee Vostro Account (SRVA) which is in the process of inter-service. The new system will allow sea and border trade, as well as the exchange of goods and services, to make payments directly in local currencies. The Embassy of India in Yangon expressed its support for the initiative and urged businesses on both sides to make use of this convenient mechanism. Trade: India-Myanmar trade system launched now opens up new dimensions of transactions On 2 February, the Indian Mission and the India-Myanmar Chamber of Commerce (IMCC) highlight the benefits of this new system. A program was arranged. The system is designed to facilitate trade transactions and reduce the cost of currency conversion, making the overall trade and exchange process more efficient. Also Read: JP: This real estate company is in bad shape, Rs. 52,000 crore pending.