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Proposal to permit Reserve Bank of India to enter into Currency Swap Agreement with the central bank of Sri Lanka
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....roposal to permit Reserve Bank of India to enter into Currency Swap Agreement with the central bank of Sri Lanka <br>News and Press Release<br>Dated:- 23-4-2015<br><BR>The Union Cabinet chaired by the....
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.... Prime Minister, Shri Narendra Modi, today gave its ex-post-facto approval for entering into an agreement with the Central Bank of Sri Lanka for extending US$1.1 billion as a special /ad-hoc swap outs....
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....ide the Framework on Currency Swap Arrangement for SAARC Member Countries. India has a Framework on Currency Swap Arrangement for SAARC Member Countries since 2012. The facility is available to all ....
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....SAARC member countries with a floor of US $100 million and ceiling of US $ 400 million within overall limit of US$ 2 billion and is valid till November 14, 2015. RBI in their letter dated February 18,....
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.... 2015 has proposed to make available US$400 million to Sri Lanka under this Framework and the remaining US$1.1 billion as a special/ad-hoc swap facility outside the Framework, but with the same terms ....
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....and conditions, for 6 months against the request of the Central Bank of Sri Lanka. This will help Sri Lanka in availing a safety net against the probable volatility of their currency and provide sho....
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....rt-term liquidity that would contribute to Sri Lanka's economic recovery. This will also strengthen India's bilateral relations and economic ties with Sri Lanka.<BR> News - Press release - PIB....