between India and some major global powers like the US Russia France regarding the idea of a globally interoperable payment system. While India, represented by RBI Governor Shaktikanta Das, is advocating for such a system to enable seamless cross-border transactions, key figures like Christopher Waller from the US Federal Reserve have raised concerns. Waller's concerns are centered on potential costs, legal challenges, and the overall feasibility of interlinking instant payment systems on a global scale

This difference in stance underscores the complexities involved in achieving global financial integration, where geopolitical, legal, and economic considerations often play significant roles