India’s ties with its southern neighbour strengthens: RBI’s Currency Swap Agreement with the Central Bank of Sri Lanka

By Sudipta Purkayastha, Gujarat National Law University.

The Indian Prime Minister Narendra Modi has, since practically the beginning of time, stressed on the importance of maintaining friendly relations with other states, especially those in South Asia.

This March, he lived upto his motto once again, by visiting Sri Lanka for talks aiming at improving bilateral ties between the two nations. The first Indian Prime Minister to visit Sri Lanka on a bilateral basis since 1987, Mr. Modi made a practical gesture of his belief that economic ties are “a key pillar of relationship between the two countries”. Further, the Indian premier has stated that the progress in the relations between the two nations “reflects [a] shared commitment to stronger economic cooperation”. (more…)