Sri Lankan President Anura Kumara Dissanayake has announced an economic relief package to mitigate the impact of the West Asia conflict, including fuel price reductions and support from India for petrol and diesel supplies.
Extending its support to Saarc Bank, Sri Lanka on Thursday said the proposed financial institution will help in alleviating poverty in the South Asian region.
The Congress has been accusing the government of distracting people with other issues to hide its failures and issues of price rise and unemployment.
Banks and companies in India are taking a cautious approach towards Sri Lanka, which, reeling from a financial crisis, has sought a $1-billion loan from the country to import essential commodities. A senior State Bank of India (SBI) executive said the bank was committed (to Sri Lanka) for the long term. "As far as exposures (are concerned), the bank will be cautious on its dollar exposure to Sri Lankan entities till the situation improves," he said.
A statement from the finance ministry said, 'it shall be the policy of the Sri Lankan government to suspend normal debt servicing...shall apply to amounts of affected debts outstanding on April 12, 2022'.
The ICICI Bank, India's largest consumer lender, on Thursday launched commercial operations in Sri Lanka, with an eye on the growing bilateral trade and inward remittances market.
'For the common man, the economic conditions are not going to get better.'
Chandana, who is now a full-time coach, remembered Ranatunga as a shrewd tactician, whose strategic acumen were way ahead of the time.
RBI, Sri Lankan central bank agree on $1.5 bln currency swap deal.
New Delhi has a chance to rid itself of its image as the bully in the subcontinent by helping a neighbour tackle problems that India, for once, has no role in creating. It should grab the opportunity with both hands, suggests Aditi Phadnis.
A look at some of the major controversies in past World Cups.
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
The hacking took place on the night of February 4.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
The Tigers refused to forgive Douglas Devananda and tried to assassinate him repeatedly. He later said: "(LTTE chief Velupillai) Prabhakaran cannot kill me." Destiny proved him right.
India and Sri Lanka on Friday signed four agreements during Narendra Modi's maiden visit to the country, the first bilateral tour by an Indian premier in 28 years, with the prime minister announcing a slew of measures aimed at resetting ties with the strategic neighbour.
'Was the five-day pause ever meant to hold, or was it simply another instrument of signaling, of positioning, of buying time in a war where even the pauses are tactical?' asks Prem Panicker in his must read daily blog on the Gulf War.
South Africa will be eager to turn consistent recent form into a title-winning run when they open their women's ODI World Cup campaign against traditional powerhouses England in Guwahati on Friday.
'We have nothing to gain by helping any other country to become a threat to India,' former Sri Lanka president Mahinda Rajapaksa, who is on the comeback trail, tells Rediff.com in an exclusive interview.
President Gotabaya Rajapaksa on Monday fired Basil Rajapaksa from his post and invited the Opposition parties to join a unity Cabinet to tackle the raging public anger against the hardships caused by the economic crisis.
Sri Lankans were on the edge on Tuesday as they waited whether embattled Gotabaya Rajapaksa will honour his offer to resign as president, amid signs that key members of the erstwhile powerful ruling family were attempting to flee in the face of massive public anger against them for mishandling the economy that has bankrupt the country.
India's economic growth forecast for 2025 has been revised downward to 6.3 per cent, and despite a projected moderation, the country remains one of the fastest-growing large economies, supported by resilient consumption and government spending, the United Nations has said.
The Sri Lankan government has appointed an advisory committee comprising eminent economic and fiscal experts to provide guidance on addressing the current debt crisis and engaging with the International Monetary Fund (IMF) and other lenders as the country struggles to combat the unprecedented shortage of foreign reserves.
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
Thousands of Inter University Students' Federation (IUSF) students were seen sloganeering outside the Prime Minister's Residence in Wijerama Mawatha.
'Karur could still impact Jana Nayagan's box-office success if Vijay and the TVK do not get their act together,' points out N Sathiya Moorthy.
Chinese Foreign Minister Wang Yi on Sunday met Sri Lanka's top leadership and discussed a host of issues, including the debt crisis faced by the island nation, investments, promoting tourism and the fight against the COVID-19 pandemic as the two countries marked the 65th anniversary of diplomatic ties.
2016 champions SRH are banking on a power-packed batting line-up and a revamped bowling attack to end their nine-year title drought.
The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
The Lok Sabha passed the Waqf (Amendment) Bill, 2025, with the ruling NDA defending it as beneficial for minorities while the opposition called it "anti-Muslim". All amendments moved by the opposition were rejected and the bill was passed with 288 votes in favor and 232 against. Union Minorities Affairs Minister Kiren Rijiju asserted that India is the safest place in the world for minorities, refuting claims of their insecurity.
'These are interesting days for watchers of English cricket and central banking,' points out Amol Agrawal.
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
Nepal's decision to ban the import of non-essential items amid depleting forex reserves may hit Indian exports. The country's central bank - Nepal Rastra Bank - last week instructed commercial banks not to open letters of credit (LCs) for importing non-essential items. This is to prevent further decline of the country's foreign exchange reserves. However, it has not issued any formal communication yet.
While sources in Iran confirmed the dispute, officials of the central banks of both countries are set to meet on Friday.
Mahinda Rajapaksa recovered from his 2015 electoral losses, went to the people and campaigned about the injustice done to him. Without attempting to be subtle, he underscored his image of the Sinhala Buddhist warrior a la Dutugemunu, the king of Sri Lanka (164 BC to 140 BC) who led the military campaign against the invading warlord Elara.
Establishments from Hong Kong and Macau will require prior approval of the Reserve Bank to set up business or related activities in India.
Maithripala Sirisena was considered so meek and self-effacing that he appeared no threat to anyone. What a mistake his rivals made!
The Indian contingent of more than 300 navy personnel was assisting in the relief, with divers searching the brackish waters and medical teams seeing patients in makeshift tents set up at shelters.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
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