New Delhi, March 3 -- India and Japan have renewed their Bilateral Swap Arrangement (BSA), effective February 28, 2026, maintaining the facility at up to USD 75 billion.

The agreement was signed between the Bank of Japan (BoJ), acting as agent for Japan's Ministry of Finance, and the Reserve Bank of India (RBI) through the third Amendment and Restatement Agreement.

Two-Way Currency Swap

The BSA is a two-way currency swap arrangement that allows both countries to exchange their local currencies for the US dollar. The overall size of the facility remains unchanged at up to USD 75 billion.

Strengthening Financial Safety Nets

Officials said the arrangement is intended to strengthen and complement existing financial safety nets. Both side...