Current Affairs - Finance - Discussion

The Reserve Bank of India announced the SAARC Currency Swap Framework for the period 2024-27. This framework aims to facilitate bilateral swap agreements with SAARC central banks, providing a backstop line of funding for short-term foreign exchange liquidity requirements or balance of payment crises among SAARC member countries. The initiative underscores India's commitment to regional financial stability and cooperation within the South Asian Association for Regional Cooperation (SAARC) framework.