The Reserve Bank of India (RBI) released a revised framework for currency swap arrangements with South Asian Association for Regional Cooperation (Saarc) countries.

• This framework will be effective from 2024 to 2027.
• Under the framework, the RBI will enter into bilateral swap agreements with Saarc central banks that wish to utilise the swap facility.
• A new Rupee Swap Window has been introduced under the framework, offering various concessions to support swaps in Indian Rupees. The total corpus for this support amounts to Rs 25,000 crore.
• The RBI will continue to offer swap arrangements in US Dollars and Euros through a separate USD/Euro Swap Window, with an overall corpus of $2 billion.