India and Bangladesh sign $2 billion Line of Credit

India has signed the 2nd line of credit (LOC) agreement extending Two billion dollars in development financing to Bangladesh for undertaking various development projects. This credit line will be provided through Export and Import Bank of India (Exim Bank), India’s external lending arm. It is Exim Bank’s biggest ever LOC facility given to another country. The development financing will be used in the infrastructural projects like power sector, road transportation, railways, shipping, information & communication technology (ICT) and social sector projects like health and technical education.
Background:

The financing deal comes after Prime Minister Narendra Modi in June 2015 had announced new credit line to Bangladesh during his official visit to Dhaka. It follows India’s earlier one billion dollar in assistance provided to Bangladesh in 2011 for infrastructure development.

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India and Bangladesh sign $2 billion Line of Credit

India and Bangladesh has signed Memorandum of Understanding to tackle the menace of fake Indian currency notes

On 13 August 2015 India , Bangladesh has signed Memorandum of Understanding to tackle the menace of fake Indian currency notes smuggling.The (MoU) was signed during a meeting of the Joint Task Force on Fake Currency Notes in Dhaka.

MoU was signed by the Additional Inspector General of Bangladesh Mohammed Mokhlesur Rahman and Head of National Investigation Agency of India (NIAOI) IG Sanjeev Kumar Singh.

Highlights of the Memorandum of Understanding:

•India and Bangladesh both nations will share intelligence inputs on operatives engaged in circulating (FICN) on real time basis.

• India will provide the Advance note sorting machines to Bangladesh to detect (FICN) circulation at international airports, immigration points, banks and financial institutions in Bangladesh.

• India will help Bangladesh to set upb the Forensic Science laboratory for examination of fake notes and maintaining a digital depository of forensic reports.

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India and Bangladesh has signed Memorandum of Understanding to tackle the menace of fake Indian currency notes