Alerts

Maldives and India sign US$400m currency swap deal

The central banks of India and Maldives on Monday signed a bilateral currency swap agreement worth up to US$400 million. India agreed to increase an existing swap arrangement as part of a US$1.4 billion economic package pledged in December as the change of government heralded a reset of relations after the historically close ties were strained under the pro-China former administration. Under the swap facility, the Maldives central bank can draw up to US$400 million after issuing a guarantee for the equivalent amount in local currency. The facility was agreed under the ‘Framework on Currency Swap Arrangement for SAARC Countries,’ an arrangement India has with SAARC member countries to help manage foreign currency reserves........................

Please or to Read More Entire Article

Article by Same Author

In case you come across any suspicious activity, any suspicious movement or have any information to tell to the Anti-Terror Squad, please take a note of the new ALL INDIA TOLL-FREE Terror Help-line '1090'. Your city's Police or Anti-Terror squad will take action as quickly as possible. Remember that this single number 1090 is valid all over india. This is a toll free number and can be dialled from mobile phones also. Moreover, the identity of the caller will be kept a secret.

Please try to make aware each and every citizen of india about this facility.

Helpline 1090