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The Reserve Bank of India has agreed to a $400 million currency swap facility for Sri Lanka till November 2022.The Central Bank of Sri Lanka had sought the swap facility to help bolster the pandemic hit island nation’s foreign exchange reserves. The RBI’s action comes in the wake of a recent bilateral talk.The meeting, in which officials from the Ministry of External Affairs, Ministry of Finance, and the EXIM Bank interacted with representatives of the Sri Lankan government.
About swap facility Central bank liquidity swap is a type of currency swap used by a country's central bank to provide liquidity of its currency to another country's central bank. In a liquidity swap, the lending central bank uses its currency to buy the currency of another borrowing central bank at the market exchange rate, and agrees to sell the borrower's currency back at a rate that reflects the interest accrued on the loan. The borrower's currency serves as collateral.
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The Ministry of HRD conducted the first ever Indian Scholastic Assessment (Ind-SAT) Test 2020 under its 'Study in India’ programme. Nearly five thousand candidates from Nepal, Ethiopia, Bangladesh, Bhutan, Uganda, Tanzania, Rwanda, Sri-Lanka, Kenya, Zambia, Indonesia and Mauritius appeared for the exam conducted in the proctored internet mode by the National Testing Agency. EdCIL (India) Limited, a PSU under MHRD and the implementing agency of SII handled the registrations and other aspects of the examination.
Ind-SAT is an exam for grant of scholarships and admissions to foreign students for studying in select Indian universities under the Study in India programme. The exam is designed to gauge the scholastic capability of students applying to study in India. The Ind-SAT scores will serve as a criterion to shortlist the meritorious students for the allocation of scholarships for under graduate as well as post graduate programmes under ‘Study in India’ programme. The exam was held in 12 countries on a pilot basis this year. There are plans to extend this to other countries in the future.The Study in India is a programme of MHRD under which foreign students come to study in 116 select higher education institutions in India for under graduate and post graduate programmes. The selection of the students is based on their merit in the class 12 / school leaving exam. About top 2000 students are given scholarships, while some others are given fee discounts by the institutions. Vriksharopan Abhiyan will be organized by Ministry of Coal involving all Coal/Lignite PSUs tomorrow during which large scale plantation would be carried out in mines, colonies, offices and other suitable areas of Coal/Lignite PSUs and seedlings will be distributed in the nearby areas for promoting plantation by the society.
the Kakrapar nuclear power plant in the Surat district of the Indian state of Gujarat has attained a sustained chain reaction for the first time. It is the country's first indigenously-designed 700 MWe pressurised heavy water reactor (PHWR). This indigenously designed 700 MWe KAPP-3 reactor is a shining example of Make in India.
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