National Desk :
Sri Lanka Crisis: Sri Lanka, which is going through a huge crisis and economic crisis, has high hopes from India. The foreign exchange crisis has arisen in front of the neighboring country. Now to avoid the foreign exchange crisis, the Sri Lankan cabinet has approved a proposal to ask for a loan of US $ 500 million from the Exim Bank of India for the purchase of petroleum products.All possible measures are being taken by the Sri Lankan government to prevent the petrol and diesel from running out at the country's petrol pumps. Due to the foreign exchange crisis in the country, it is difficult to pay for the imports. Energy Minister Kanchana Vijayasekera said that the cabinet meeting approved a proposal to take loan from Exim Bank of India to buy fuel.He said that Sri Lanka has already received $ 500 million from Exim Bank of India and $ 200 million from State Bank of India (SBI) for oil purchase. Sri Lanka on Tuesday increased petrol prices by 24.3 percent and diesel prices by 38.4 percent amid fuel crisis.India extended a helping hand to Sri Lanka, the Reserve Bank of India (RBI) allowed business transactions with Sri Lanka to be done in rupees. Sri Lanka will get a big relief from this agreement made between the two countries. The decision was taken by the Reserve Bank of India (RBI) in view of the difficulties being faced by exporters in receiving payments from Sri Lanka.
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