ECONOMYNEXT – The Reserve Bank of India has allowed Indian banks to given loans to customers in Sri Lanka Bhutan and Nepal denominated in Indian rupees. Branches of Indian banks in Sri Lanka would also be allowed to give Indian rupee loans to banks in the island or to individuals. “This development will make credit more accessible for businesses in Sri Lanka,” the Indian embassy in Colombo said. “The provision allowing such loans to be denominated in Indian Rupees will be particularly beneficial for Sri Lankan businesses, reducing exchange rate risks and strengthening cross-border trade and financial linkages between the…
Indian banks allowed to give INR loans to Sri Lanka customers
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