Linkages like PayNow-UPI have great potential to help rupee: Jamal Mecklai

In a Q&A, the CEO of Mecklai Financial Services dwells on issues such as rupee internationisation, stronger FDI flows and RBI's role in keeping the Indian currency stable

Last year, the RBI took certain steps to further internationalise the rupee, but Jamal Mecklai, CEO, Mecklai Financial Services tells Bhaskar Dutta in an interview, that the recent move to link Singapore’s PayNow with India’s UPI is a far more exciting measure as it plays to India’s strengths and holds great potential in making cross-border flows efficient. Edited excerpts:

In July 2022, RBI announced steps for further internationalisation of the rupee. There has been much global debate about ‘de-dollarisation’ as a theme. By when do you think we'd see meaningful internationalisation of the rupee?

I think it’s going to be