Sri Lanka to seek $400 mn debt

swap facility from RBI to meet

short term financial needs

Sri Lanka is set to enter into an agreement with the

Reserve Bank of India for a currency swap worth
USD 400 million to boost the foreign reserves and
ensure the financial stability of the country which is
badly hit by the COVID-19 pandemic, a top
minister has said.

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, Co-Cabinet
spokesman Information and Communication
Minister Bandula Gunawardena said.

Indian banks’ loans rise 7.2% in

two weeks to April 10: RBI

Indian banks’ loans rose 7.2% in the two weeks ended

April 10 from a year earlier, while deposits increased
9.5%, the Reserve Bank of India’s (RBI) weekly
statistical supplement showed on Friday.

Outstanding loans fell 315.62 billion rupees ($4.14

billion) to 103.39 trillion rupees in the fortnight.

Bank deposit rose 1.47 trillion rupees to 137.15 trillion

rupees.

FINN-NEWS 02
| ISSUE (CXLXXIV) By- Sakshi Goel