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Proposal to permit Reserve Bank of India to enter into Currency Swap Agreement with the central bank of Sri Lanka

Dated:- 23-4-2015 - 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 outside 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 mil .....

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