TMI BlogProposal to permit Reserve Bank of India to enter into Currency Swap Agreement with the central bank of Sri LankaX X X X Extracts X X X X X X X X Extracts X X X X ..... Proposal to permit Reserve Bank of India to enter into Currency Swap Agreement with the central bank of Sri Lanka - News and Press Release Dated:- 23-4-2015 - News - The Union Cabinet chaired by the 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 out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... side 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 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18, 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 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 provid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e short-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. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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