The State Bank of India (SBI) has subscribed the USD 50 million government treasury bill (T-bills) for one more year.
Subscription of the T-bills, issued by the Ministry of Finance, was extended by one more year from the date of maturity of the previous subscription, which is this Thursday.
Similarly, SBI had subscribed to a USD 50 million T-bills under the same mechanism earlier in May 2024, which too was on the request of the Maldives government much like the one on Thursday.
“These subscriptions have been made at the special request of the Government of Maldives as emergency financial assistance,” the Indian High Commission said in a statement.