<h1>India Extends $1.1 Billion Currency Swap for Sri Lanka, Approves New $700 Million Swap to Boost Economic Stability.</h1> The Union Cabinet, led by the Prime Minister of India, approved extending the value date of a USD 1.1 billion currency swap facility for the Central Bank of Sri Lanka (CBSL) to March 8, 2016. This extension provides temporary relief to Sri Lanka, allowing time for alternative arrangements. Additionally, a new special currency swap of USD 700 million was approved for three months or until Sri Lanka secures an IMF facility. These measures aim to bolster Sri Lanka's economic stability and reserves, which faced challenges in 2015, while also enhancing India's bilateral relations with Sri Lanka.