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ARTICLE · 03 JULY 2024

AKP Banking & Finance Digest- July 01, 2024

AK & Partners
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Reserve Bank of India ("RBI") has published its 29th Financial Stability Report dated June 27, 2024, assessing the resilience of India's financial system...

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Anuroop Omkar
Anuroop Omkar

1. Regulatory Updates

1.1. India

1.1.1. RBI releases June 2024 Financial Stability Report

Reserve Bank of India ("RBI") has published its 29th Financial Stability Report dated June 27, 2024, assessing the resilience of India's financial system amidst global and domestic challenges. The global financial system remains stable despite heightened global risks, such as geopolitical tensions and high public debt. India's economy and financial system are robust, supported by improved bank balance sheets and sustained credit expansion. RBI

1.1.2. RBI introduces revised SAARC Currency Swap Framework for 2024-2027

RBI has announced a revised Currency Swap Framework for SAARC countries for the period 2024 to 2027. This framework includes bilateral swap agreements between the RBI and SAARC central banks to support foreign exchange liquidity. A new INR Swap Window has been introduced with INR 250 billion (Indian Rupees Two Hundred Fifty Billion Only) corpus,

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