BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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15 billion dollars
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35 billion dollars
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50 billion dollars
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75 billion dollars
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Detailed explanation-1: -Japan and India have renewed the Bilateral Swap Arrangement (BSA) the size of which is up to USD 75 billion.
Detailed explanation-2: -Japan and India renews Bilateral Swap Arrangement of up to $75 billion.
Detailed explanation-3: -Since the financial crisis of 2007, central banks around the world have entered into a multitude of bilateral currency swap agreements with one another. These agreements allow a central bank in one country to exchange currency, usually its domestic currency, for a certain amount of foreign currency.
Detailed explanation-4: -Japan and India renewed the Bilateral Swap Arrangement (BSA) effective today (Feb. 28, 2022). The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Reserve Bank of India signed the Amendment and Restatement Agreement of the BSA.
Detailed explanation-5: -Press Releases. The Reserve Bank of India (RBI) has signed a Currency Swap Agreement with the Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework. This is to provide swap support as a backstop line of funding for short term foreign exchange liquidity requirements.