What is Internationalization of Rupee?

June 09 Internationalization of rupees is a process that involves increasing use of the Indian rupee in cross-border transactions. It involves promoting the rupee for import, export and other current account as well capital account transactions.   These transactions take place between resident and non-resident Indians. But before rupee is internationalized, there are some conditions are to be fulfilled. What are they?   Internationalization of rupee requires full convertibility of the currency and a restriction free...