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    Question

    What is the main objective behind allowing trade

    settlements between India and Maldives in INR and MVR?
    A To reduce tourism costs Correct Answer Incorrect Answer
    B To promote cryptocurrency in trade Correct Answer Incorrect Answer
    C To increase dependency on the US Dollar Correct Answer Incorrect Answer
    D To improve trade efficiency and reduce third-party currency dependency Correct Answer Incorrect Answer
    E To promote ACU mechanism exclusively Correct Answer Incorrect Answer

    Solution

    RBI allowed trade settlements between India and Maldives in INR and MVR to improve trade efficiency and reduce dependency on third-party currencies.

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