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Proposal to provide a two year extension with amendments to the Framework on Currency Swap Arrangement for SAARC member countries upto November 14, 2017 and extension thereafter if necessary

Dated:- 18-11-2015 - The Union Cabinet chaired by the Prime Minister Shri Narendra Modi 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& .....

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depending on their two months import requirement and not exceeding US$ 2 billion in total, in USD, Euro or INR. In the 27th SAARC FINANCE Group Meeting held in Washington D.C on 9th October 2013, the Central Bank Governors of the SAARC Member Nations .....

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operational details bilaterally with Central Banks of the respective SAARC countries. These bilateral agreements would be signed by RBI after obtaining prior Government approval. Any amendment to the Framework will require prior approval of Finance M .....

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bility of India among the SAARC countries. The extension of currency Swap facility to SAARC countries will strengthen regional integration and inter-dependence and also enhance India's economic influence in the region. Merely extending the validi .....

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