"The two Governments decided to expand the current bilateral currency swap arrangement from 15 to 50 billion US dollars. The two Governments expect that this will contribute to the stability of global financial markets including emerging economies," an India-Japan joint press statement issued by the Prime Minister's Office (PMO) said on Friday.
"The two governments also reiterated the importance of continued reforms in financial and investment sectors for promoting stable and long term capital inflows into India," read the statement.
The governments of both the nations believe that these policy measures will strengthen the bilateral financial cooperation between the two countries.
--IBNS (Posted on 06-09-2013)