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Sri Lanka to Get $400 million Debt Facilty from RBI

Published on April 25, 2020
Current Context: Sri Lanka signs an agreement with Reserve Bank of India for a Bilateral Currency Swap Arrangement worth $400 million.
Sri Lanka to Get $400 million Debt Facilty from RBI
  • The agreement is signed to boost Sri Lanka’s foreign reserves as the country which is badly hit by the COVID-19 pandemic.
  • The Cabinet has approved a proposal made by Prime Minister Mahinda Rajapaksa as the Finance Minister to enter into an agreement with the RBI for the financing facility to meet short-term international liquidity requirements.

Static Part:

  • Headquarters of RBI– Mumbai, Maharashtra
  • Governor of RBI – Shaktikanta Das
  • Deputy Governors of RBI– Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra.
  • Capital of Sri Lanka-Colombo, Sri Jayawardenepura Kotte
  • Currency of Sri Lanka-Sri Lankan rupee

Question:

Q.1 How much financial support Srilanka to receive from Reserve Bank of India?
a. 600 million
b. 400 million
c. 500 million
d. 300 million
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