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Current Affairs related to Maldives

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2 May 2026 BANKING

The government of India has sanctioned the inaugural withdrawal worth ₹3,000 crore ($360 million) for the Maldives under the South Asian Association for Regional Cooperation (SAARC) Currency Swap Framework (2024–2027). The facility is provided through the Indian Rupee (INR) Swap Window to offer short-term foreign exchange liquidity support to the member nations of SAARC.

The approval follows the settlement of a previous $400 million facility by the Maldives in October 2024. It is to be noted that the RBI has provided cumulative swap support worth $1.1 billion to the Maldives since 2012.

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