The Bank of Japan (BOJ) and RBI have concluded an agreement that expands the maximum amount of the bilateral swap arrangement (BSA) between the two countries to 50 billion dollars. The agreement was signed by BOJ Governor Haruhiko Kuroda and RBI Governor Raghuram Rajan and came into force from Friday. The RBI said in a statement said that with this agreement, the current BSA, effective for 3 years from 2012 to 2015, is expanded from the original size of 15 billion dollars. The BSA aims at addressing possible short-term liquidity difficulties and supplementing the existing international financial arrangements, as one of the efforts in strengthening mutual cooperation between Japan and India. The BSA shall be effective until December 3, 2015.