India Revamps Trade Reporting System, Including Offshore Rupee

India’s central bank-supervised clearinghouse is making changes to its trade reporting system to bring it more in line with global standards and to make it easier for lenders to disclose their offshore rupee trades, according to people familiar with the matter.

The overhaul by the Clearing Corp. of India Ltd. started earlier this year and comes as regulators have stepped up monitoring of the currency and asked lenders to report their offshore rupee transactions, said the people, asking not to be identified discussing private information.