Question

    Recently an LOC agreement was signed between Sri Lanka

    and which Indian bank to provide $55 million economic support to Sri Lanka ?
    A EXIM Bank Correct Answer Incorrect Answer
    B Punjab national bank Correct Answer Incorrect Answer
    C State Bank of India Correct Answer Incorrect Answer
    D NABARD Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    India has decided to extend a Line of Credit (LOC) of $55 million to Sri Lanka for the procurement of urea. An LOC agreement was signed between Sri Lanka and the Export-Import Bank of India at Colombo. India has extended multi-pronged assistance to the people of Sri Lanka in the last few months. The support from India ranges from economic assistance of close to $3.5 billion to helping secure Sri Lanka's food, health and energy security by supplying essential items like food, medicines, fuel, kerosene etc.

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