Reserve Bank of India (RBI) and Bank of Japan (BOJ) has signed a bilateral swap arrangement (BSA) on Monday. The BSA was signed by BOJ governor Masaaki Shirakawa and RBI governor Yaga Venugopal Reddy in Basel, Switzerland. It will pave a way for swapping local currencies against the US dollar for up to $3 billion. The agreement will also sort out problem of short-term liquidity and strengthen existing international financial arrangements
The agreement was come into effect on Sunday (June 29). Both Japan and India can now swap Yen and rupee against the US dollar up to $3 billion. They will hold biannual consultations on economic and financial conditions of each country with the BSA in effect.
Coimbatore, July 1 : Lions Club of Coimbatore by joining hands with the Bharatiyar University has set up a unique audio library for the visually impaired students considering how much these student
India’s third largest two wheeler manufacturer, TVS Motor Company, has reported 16.04 per cent fall in sales at Rs 3,290 crore for the year ended March 2008.