RBI gives $400 million to Sri Lanka's central bank under swap deal

The Reserve Bank of India (RBI) has agreed to provide $400 million to the Central Bank of Sri Lanka (CBSL) under the SAARC swap facility. "The RBI's very rapid and timely assistance will serve to boost investor confidence," the central bank said. CBSL has requested a further bilateral swap arrangement of $1 billion from RBI which is "under consideration".