https://www.taxtmi.com/news?id=15193 Extension of the Framework on Currency Swap Arrangement authorises the RBI to offer bilateral currency swaps to SAARC central banks sized to cover short-term import needs in USD, Euro or INR, subject to an aggregate ceiling. Amendments clarifying operational clauses were approved and any Framework modification requires Finance Minister approval. Bilateral agreements will be executed by RBI after government clearance. Extension alone has no fiscal impact, but drawdowns under bilateral swaps would temporarily deplete RBI foreign exchange reserves up to the agreed maximum and impose an interest obligation on the Receiving Party. en-us Wed, 18 Nov 2015 16:14:49 +0530 Wed, 18 Nov 2015 16:14:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15193 Extension of the Framework on Currency Swap Arrangement authorises the RBI to offer bilateral currency swaps to SAARC central banks sized to cover short-term import needs in USD, Euro or INR, subject to an aggregate ceiling. Amendments clarifying operational clauses were approved and any Framework modification requires Finance Minister approval. Bilateral agreements will be executed by RBI after government clearance. Extension alone has no fiscal impact, but drawdowns under bilateral swaps would temporarily deplete RBI foreign exchange reserves up to the agreed maximum and impose an interest obligation on the Receiving Party. News - Wed, 18 Nov 2015 16:14:49 +0530 https://www.taxtmi.com/news?id=15193