The Government of India has approved the enhancement of the bilateral currency swap arrangement between the Reserve Bank of India (RBI) and Bank of Japan from US$15 billion to US$ 50 billion.

"The terms of the agreement have been agreed between the Indian and the Japanese side in this regard. The Government of India has authorized Reserve Bank of India (RBI) to sign the agreement. This measure will further strengthen the bilateral financial cooperation between Japan and India," a government release has stated.

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