A brave new world for the rupee

RuPay aims to empower every Indian with a world class payment solution

There are always innovations and opportunities that arise from challenges. Many of the luminary companies of today were born during a financial crisis — Uber (2009), Microsoft (1975), Disney (1923), General Motors (1908) and General Electric (1890) to name just a few. The current geopolitical crisis may have just provided such a platform for countries, India included. The recent decision by Russia to benchmark the ruble to gold has opened up a Pandora’s box for the US dollar.

The dollar has been enjoying the position of a global reserve currency and this gained enormous prominence after the collapse of the Bretton