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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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Fairly heavy rains expected today

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The Department of Meteorology says that showers or thundershowers will occur at several places in Sabaragamuwa, Central, Eastern and Uva provinces and in Polonnaruwa and Hambantota districts during the afternoon or night today (April 19).

The department noted that fairly heavy falls of above 50 mm are likely at some places in these areas.

Showers may occur in Western province and in Galle, Matara and Puttalam districts in the morning.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

Misty conditions can be expected at some places in Central, Sabaragamuwa and Uva provinces and in Ampara and Batticaloa districts during the morning.

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Massive turnout of devotees for worshiping ‘Siri Dalada Vandanawa’

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The ‘Siri Dalada Vandanawa’, the special exposition of the Sacred Tooth Relic of Lord Buddha, which commenced yesterday (April 18), continues today (April 19) for its second day.

Accordingly, devotees have been given the opportunity to pay their respects to the Sacred Tooth Relic today from 12 noon to 5:30 p.m.

Media reports indicate that nearly 100,000 devotees worshipped the Sacred Tooth Relic yesterday (April 18).

Many devotees stayed in long queues overnight, lighting oil lamps and can be seen waiting to pay their homage today.

Kandy Municipal Commissioner Indika Kumari Abeysinghe stated that due to the unexpectedly large turnout on the first day, several pre-planned arrangements had to be adjusted.

In addition to the facilities provided by the Kandy Municipal Council for the devotees who come to worship the Sacred Tooth Relic, temples and mosques in the area have also been opened for the devotees, she further stated.

Meanwhile, as of early this morning, one of the queues of devotees waiting to pay homage had reportedly extended more than 8 km – from near Kandy’s Red Bridge area (Rathu Bokkuwa) to the Ketawala area along the Thalathuoya road.

The local residents had treated the devotees who had waited in queues all night with tea and water and had also provided accommodation to some of the devotees in their homes.

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Earth slips block Beragala-Wellawaya road

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Traffic on the Beragala–Wellawaya road has been disrupted due to earth slips near the Viharagala area (184 km post), the Disaster Management Centre reported.  

The Badulla District Deputy Director has alerted relevant authorities to clear the debris and restore normal traffic flow.  

Motorists are advised to use the Ella–Wellawaya road as an alternative route until the road is cleared. Authorities are working to resolve the issue promptly.  

Stay tuned for further updates.

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