RBI amplifies Currency Swap Arrangement with SAARC countries

RBI amplifies Currency Swap Arrangement with SAARC countries

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  • The Reserve Bank of India (RBI) has stretched out money swap game plan to South Asian Association for Regional Cooperation (SAARC) countries till mid-November 2017. Each of the 7 SAARC part nations including Bangladesh, Nepal, Maldives, Afghanistan, Bhutan, Pakistan and Sri Lanka can profit the office.
  • Under the course of action, RBI will be putting forth swap game plan up to a general measure of US 2 billion dollars both in remote cash and Indian rupee.
  • This move of RBI goes for upgrading monetary participation and reinforcing money related dependability among the SAARC nations.
  • CCEA treks MSP of crude jute from Rs 2,700 to 3,200 for every quintal
  • The Cabinet Committee on Economic Affairs has trekked Minimum Support Price (MSP) of crude jute from 2,700 to 3,200 rupees for every quintal. Choice in such manner was taken amid CCEA meeting headed by Prime Minister Narendra Modi in New Delhi.
  • The scale has been done for the year 2016-17 to support creation. The MSP was climbed by CCEA in view of the proposition sent by Union Agriculture Ministry had all together build the crude jute development which has been declining lately.
  • In 2015-16, the zone under crude jute has decreased to 7.5 lakh hectare from minimal more than 8 lakh hectare in year 2016-17. Jute cultivating is giving job to more than 40 lakh ranchers in West Bengal, Assam, Odessa, and eastern Bihar.