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With which country has the Union Cabinet authorised Reserve Bank of India to sign the bilateral currency swap arrangement on 10 January 2019?

With which country has the Union Cabinet authorised Reserve Bank of India to sign the bilateral currency swap arrangement on 10 January 2019? Correct Answer Japan

  • On 10 January 2019, the Union Cabinet approved the bilateral currency swap arrangement between India and Japan.
  • It authorised the Reserve Bank of India to sign the deal with the Bank of Japan for a maximum amount of $75 billion.
  • The arrangement will bring stability to foreign exchange and capital markets in India.
  • It will also help in maintaining an appropriate level of balance of payments.

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