The Government of India today approved the enhancement of the bilateral currency swap arrangement between the Reserve Bank of India (RBI) and Bank of Japan from US$15 billion to US$ 50 billion. The terms of the Agreement have been agreed between the Indian and the Japanese side in this regard. The Government of India has authorized Reserve Bank of India (RBI) to sign the agreement.

This measure will further strengthen the bilateral financial cooperation between Japan and India.

Bilateral currency swap arrangement expanded; RBI authorised to sign agreement strengthening bilateral financial cooperation between India and Japan. The Government approved an increase in the bilateral currency swap arrangement and authorised the Reserve Bank of India to execute the amended agreement with the Bank of Japan, implementing agreed terms to support foreign exchange liquidity and strengthen bilateral financial cooperation.