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Roundtable titled ‘INR-LKR Trade Settlement : Strengthening Bilateral Economic Ties’ held

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The High Commission of India organized a Roundtable titled ‘INR-LKR Trade Settlement: Strengthening Bilateral Economic Ties’ yesterday (Feb. 25) in Colombo.

The event brought together key stakeholders, including representatives from the Government of Sri Lanka, Sri Lankan and Indian banks, as well as members of various trade Chambers, media, and think tanks. Mr. Santosh Jha, High Commissioner of India to Sri Lanka and Dr P. Nandalal Weerasinghe, Governor of Central Bank of Sri Lanka graced the occasion.
The event commenced with welcome remarks delivered by the High Commissioner of India to Sri Lanka – Mr. Santosh Jha and was followed by a detailed presentation by Dr. Aditya Gaiha, Chief General Manager, Reserve Bank of India (RBI), on INR internationalization and the INR-LKR trade settlement. He also highlighted key policies of RBI which permit investments in INR in Sri Lanka. He further elaborated on RBI’s recent amendments to the Foreign Exchange Management Act (FEMA), aimed at enhancing the use of INR-LKR in cross-border transactions.

Governor of the Central Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe provided valuable insights on the INR-LKR trade settlement framework. He underscored the importance of the mechanism and encouraged banks to engage with policy makers and central banks in both countries on streamlining the mechanism.

This initiative aligns with the commitment reaffirmed at the highest levels of leadership during the recent visit of President of Sri Lanka – Anura Kumara Disanayaka to India, where he met with Prime Minister Shri Narendra Modi. Among the key outcomes of their discussions was a renewed focus on enhancing INR-LKR trade settlements to deepen trade and investment ties between the two nations.

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Nishantha Wickremesinghe remanded (Update)

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Former Chairman of SriLankan Airlines Nishantha Wickremesinghe has been  remanded until July 01.

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(Previous News : June 27, 2025 4.41pm)

2 ex-heads of govt. institutions, arrested

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has arrested two former Chairmen on corruption charges.

Former Chairman of the Fisheries Corporation – Upali Liyanage and former SriLankan Airlines Chairman – Nishantha Wickremesinghe have been arrested in this manner.

However, Liyanage, who was produced before Colombo Chief Magistrate Thanuja Lakmali Jayathunga, was released on three sureties amounting to Rs. 5 million.

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Body of undergrad who went missing at Port City beach, found (Update)

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The body of the undergraduate who had gone missing at the Port City beach, has been found.

The body was found during a search by divers.


(Previous News on 27th June 2025 at 10.06 am)

Undergrad goes missing at Port City beach while snorkeling

A 24-year-old university student from Asgiriya, Gampaha, has gone missing yesterday morning (June 26) while swimming in the sea off the Colombo Port City beach.

According to the police, the student, a resident of Gampaha, was part of a group of students from the Universities of Colombo and Moratuwa who had visited the artificial beach and engaged in snorkelling.

The student failed to resurface, prompting a complaint to the Colombo Port Police.

Lifeguards later recovered the snorkeling gear believed to be belonging to the missing student.

A joint search operation involving Navy divers from the Colombo Port and Rangala Navy Division is currently underway. Further investigations are underway by the Colombo Port Police.

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Missing NPP members of Weligama PS, resurface (Update)

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The 2 NPP members of the Weligama Pradeshiya Sabha, who had gone missing earlier today (June 27), have been found at the Unawatuna beach in Galle.

According to police, they are unharmed.


(Previous News on 27th June 2025 at 12:15 pm)

2 NPP members at Weligama PS go missing (Video)

Tensions erupted at the Weligama Pradeshiya Sabha today (June 27) after 02 National Peoples’ Power (NPP) members were reportedly abducted.

The incident had occurred just before a scheduled vote to elect a new chairman.

The members, who were en route to attend the session, have reportedly gone missing, prompting the suspension of proceedings.

It has been proposed to proceed the council session if the missing members arrive.

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