June 30 – India and Japan inked a blockbuster currency swap deal on Sunday aimed at addressing short-term liquidity difficulties, the Reserve Bank of India (RBI) said.
The deal which enables both countries to swap yen or rupee against the U.S. dollar for up to $3 billion, was signed by Reserve Bank of India Governor Yaga Venugopal Reddy and Bank of Japan Governor Masaaki Shirakawa at Basel, Switzerland. This is India's first currency swap deal. Japan, however, has swap agreements with countries such as China, South Korea and Thailand.
Dezan Shira & Associates have announced their fourth India office is to open next month in Kolkata, following existing offices handling foreign direct investment into India in Delhi, Mumbai and Chennai. The firm, which advises multinational clients in legal and tax FDI matters in China, India and Vietnam, now has sixteen regional offices in Asia.