High Commissioner Pranay Verma joined as Guest of Honour an event organized by the Eastern Bank PLC of Bangladesh on 20 September 2023 to mark the bank’s first settlement of India-Bangladesh Trade in Indian Rupees (INR). High Commissioner highlighted the positive momentum that has developed in settlement of bilateral trade in INR since the launch of this new mechanism between India and Bangladesh on 11 July 2023. He underscored the benefits of this mechanism which include reduced pressure on foreign exchange reserves, greater convenience of trade settlement, and greater trade competitiveness, all of which will help enhance the overall trade volumes. Commerce Minister of Bangladesh H.E. Mr. Tipu Munshi addressed the gathering as the Chief Guest.