MINISTRY PLANS OVERHAUL OF AFFORDABLE HOUSING SCHEME
Why in the news?
The RBI has revamped its currency swap arrangement for SAARC countries from 2024 to 2027.
- Introducing a dedicated INR swap window with incentives to support Indian rupee liquidity.
- Allocating ₹250 billion for INR support to enhance regional financial stability.
Key Feature of the Framework:
INR Swap Window:
- Established to facilitate easier access to Indian rupees for SAARC nations.
- Offers concessions to ensure smoother financial operations within the region.
Source: Elevate
What is Currency Swap?
Currency swap is a financial agreement between two parties to exchange principal and interest payments of different currencies for a specified period. It helps manage currency risk and obtain favourable borrowing rates.
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