Amidst the tension with Pakistan (India Pakistan Conflict), India has given a huge amount of aid from its treasury to a Muslim country. Now after the ceasefire between India and Pakistan, this aid is in the headlines.
Actually, the Government of India has provided assistance to its maritime neighbor Maldives (India-Maldives relations) by issuing a treasury bill of US $ 50 million (about Rs 423 crore). After this help, Maldives Foreign Minister Abdullah Khalil has expressed his gratitude to the Indian government. Khalil appreciated the timely help and said that this reflects the deep friendship between the two countries.
In a statement shared on X, the High Commission of India in Maldives said India provides financial assistance to Maldives through the rollover of Treasury Bills worth USD 50 million. Following a request from the Government of Maldives, State Bank of India has subscribed to Government Treasury Bills of US$ 50 million issued by the Ministry of Finance of Maldives for a further year.
Let us inform you that since March 2019, India has been facilitating subscription of many such Treasury Bills by SBI and rolling them over to the Government of Maldives annually, interest-free. This is part of a two-way arrangement between the two countries that acts as emergency financial assistance to the maritime neighbour.