Yuvayana Current Affairs Digest Pdf - July 2015.pdf
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<strong>Yuvayana</strong> <strong>Current</strong> <strong>Affairs</strong> <strong>Digest</strong> – <strong>July</strong> 2015<br />
www.yuvayana.org<br />
► Champions League Twenty 20 (CLT20) of Cricket has been scrapped with immediate<br />
effect.<br />
Decision in this regard was taken unanimously by Governing Council of CLT20, comprising<br />
Board of Control for Cricket in India (BCCI), Cricket South Africa and Cricket Australia.<br />
CLT20 was scrapped due to lack of interest or poor response of the fans and popularity of the<br />
tournament and difficulty in managing it.<br />
Its popularity was also poor in respect of other domestic T20 tournaments such as Indian Premier<br />
League (IPL), Big Bash League in Australia and South Africa’s Ram Slam T20.<br />
About Champions League Twenty 20<br />
CLT20 was an international Twenty-20 cricket competition played between major domestic<br />
teams from cricketing nations.<br />
It was established in 2009 and was annual sporting event.<br />
The League is jointly owned by BCCI, Cricket Australia and Cricket South Africa. 2014 edition<br />
of the league was won by Chennai Super Kings (CSK).<br />
► RBI has signed a special currency swap agreement with the Central Bank of Sri Lanka<br />
(CBS).<br />
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Under this agreement, Sri Lankan bank can draw up to 1.1 billion dollars for a maximum<br />
period of 6 months.<br />
It was signed with an intention to mitigate the possible currency volatility in the spirit of<br />
strengthening bilateral relations and economic ties of India with Sri Lanka.<br />
It should be noted that, this special arrangement was signed in addition to the existing<br />
Framework on Currency Swap Arrangement for the SAARC member countries.<br />
Earlier in March 2015, RBI had signed similar Currency Swap Agreement with Sri<br />
Lankan bank for 400 million dollars under the SAARC Currency Swap Framework<br />
within the overall limit of 2 billion dollars.<br />
SAARC Currency Swap Framework<br />
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This Currency Swap Framework is signed between SAARC member countries.<br />
It seeks to provide a backstop line of funding to member countries in order to meet any<br />
balance of payments and liquidity crises.<br />
During the crisis, this fund will be provided till longer term arrangements are made or till<br />
the need for short-term liquidity due to stressed market conditions.<br />
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