1.Consider the following statements:
1.India announces 400 million dollar currency swap for Sri Lanka.
2.Sri Lanka was set to enter into an agreement with the RBI for a currency swap worth $300 million under the South Asian Association for Regional Cooperation (SAARC) framework.
Which of the above statement/statements are correct?
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
2.Consider the following statements:
1.Flipkart to acquire Walmart India’s wholesale business.
2.Flipkart is also facing intense competition from JIL Mart of RIL, which was launched in December 2010.
3.Walmart has a total of 28 wholesale stores, two fulfillment centers and over 1.5 million members in India, including large-scale mom-and-pop stores (grocery stores).
Which of the statements given above is/are correct?
A. 1 and 2 are correct
B. 1 and 3 are correct
C. 2 and 3 are correct
D. All of the above
3.Consider the following statements:
1.India extends medical assistance worth about USD 1 million to North Korea.
2.The Foreign Ministry also stated that this medical aid is under the aegis of the anti-tuberculosis program of the World Health Organization (WHO) in the Democratic People’s Republic of North Korea.
4.Consider the following statements:
1.India hands over 10 broad gauge locomotives to Bangladesh.
2.Indo-Bangladesh railway collaboration is a vital element of the Bilateral cooperation in promoting connectivity and trade and in boosting the economic partnership.
3.Both the countries have been jointly working to enhance rail connectivity by developing some crucial railway projects and by restoring some of the old rail links with Bangladesh.
The Reserve Bank of India (RBI) has signed an agreement for extending a $400-million currency swap facility to Sri Lanka. This currency swap is used to boost the foreign reserves and ensure the financial stability of the country, which is badly hit by the COVID-19 pandemic. The currency swap arrangement will remain available till November 2022. Sri Lanka was set to enter into an agreement with the RBI for a currency swap worth $400 million under the South Asian Association for Regional Cooperation (SAARC) framework.
Currency exchange agreement and its importance
How currency swap works?
Why is currency swap done?
SAARC currency swap facility:
What is a Currency Swap?
Flipkart has strengthened its wholesale presence with the acquisition of Walmart India, which operates the Best Price cash-and-carry business. Bengaluru-based Flipkart, in which Walmart Inc holds a majority, has announced the launch of Flipkart Wholesale — a new digital marketplace that looks to transform the kirana retail ecosystem by leveraging technology.
India has extended medical assistance worth about USD 1 million to North Korea in response to a request received from the World Health Organisation (WHO), the Ministry of External Affairs. In light of this information, the Indian government has decided to provide US $ 01 million of humanitarian aid to North Korea as anti-tuberculosis drugs. The Foreign Ministry also stated that this medical aid is under the aegis of the anti-tuberculosis program of the World Health Organization (WHO) in the Democratic People’s Republic of North Korea.
India and North Korea Relations: Background
India provided 10 railway locomotives to Bangladesh on Monday as grant assistance, with the leadership of the two sides committing themselves to more connectivity and infrastructure initiatives to boost trade and create new supply chains.The broad gauge locomotives, modified to suit height restrictions in Bangladesh, were flagged off by external affairs minister S Jaishankar and railways minister Piyush Goyal during a virtual ceremony that also featured their Bangladeshi counterparts AK Abdul Momen and Mohammed Nurul Islam Sujan.
Rail Links between India and Bangladesh:
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