| The government of India has extended the currency swap facility for SAARC members, under which the RBI offers the facility of varying sizes not exceeding USD 2 billion in total. The decision was taken by the Union Cabinet, chaired by Prime Minister Narendra Modi, today.
The Cabinet "has given approval for the proposal to provide a two year extension with amendments to the framework on 'Currency Swap Arrangement' for SAARC member countries up to November 14, 2017, and extension thereafter, if necessary, by Finance Minister," an official statement said.............................................Full Article: Source
|