Agreement on Standby credit facilityStandby Credit Facility and Currency Swap Agreement • May 7th, 2013
On 28th Jan. 2013, on the occasion of the visit of the King of Bhutan to India as the Chief Guest to the 2013 Republic Day celebrations, a MoU formalizing an agreement enhancing the standby credit facility by another Rs 4 billion was signed between the two sides. This takes the SCF to Rs. 10 billion. Under this facility, valid for 5 years, GoI provides credit to RGoB at a concessional interest rate of 5% per annum This will assist Bhutan to overcome the rupee liquidity crunch.
