RBI offers $2 bn swap arrangement to strengthen cooperation among SAARC countries

The Reserve Bank of India will offer Swap Arrangement of US $ 2 billion both in foreign currency and in Indian rupee to member countries of the South Asian Association of Regional Co-operation(SAARC).

Dr D Subbarao, Governor, RBI, announced this arrangement at the 24th SAARC FINANCE Governors’ Meeting, in Pokhara, Nepal. This swap arrangement is with a view to strengthening regional financial and economic cooperation.

With launching of this facility, member countries -- Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka -- can now approach Reserve Bank of India for availing of the facility.

The SAARC Swap Arrangement will have a corpus of US$ 2 billion. India will contribute the entire fund. The swap amount available to various member central banks has been arrived at broadly based on two months import cover subject to a floor of US$ 100 million and a maximum of US$ 400 million per country.

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Sathyamangalam announced to be a tiger reserve

 The government decided to create a new tiger reserve spread over 1.40 lakh hectares from the present sanctuary limits. It will be the fourth tiger reserve in Tamil Nadu. The State has three tiger reserves in Mudumalai, Anaimalai and Kalakad-Mundanthurai. The tiger count in the State at present is 163.
The Tamil Nadu State Government decided to set up a forest research centre at Vandalur Arignar Anna Zoological Park at a cost of Rs.34.24 crore with the State's own funds. This would be expanded with financial assistance from the Centre and upgraded to a Rs.74.37 crore research facility.

Sikkim won the Best State Award for Strengthening the Panchayati Raj Institutions

Sikkim, won the best state award for strengthening its panchayati raj institutions. The northeastern
state bagged the five prestigious national awards worth of 1.36 crore rupees, at a Panchayat Raj Day(April 23) function held at Vigyan Bhawan in New Delhi. Union rural development minister Jairam Ramesh and Union minister of panchayati raj and tribal development V Kishore Chandra Deo presented the 2011-12 Panchayat Empowerment & Accountability Incentive Scheme (PEAIS) award to Sikkim's rural management and development minister CB Karki. The Panchayat Empowerment & Accountability Incentive Scheme (PEAIS) is a Central Sector Plan Scheme which is being implemented by the Ministry of Panchayati Raj since 2005-06. The scheme had an allocation of 5 crore for 2005-06, which was raised to 10 crore rupees for the subsequent years.