Sri Lanka has requested India for a new currency swap facility worth about $1 billion and a deferment of debt repayment, both of which are being discussed at the official level, and a mutual understanding on the issues would be arrived at shortly, the Ministry of External Affairs (MEA) said.

Prime Minister Narendra Modi and his Sri Lankan counterpart Mahinda Rajapaksa, in their virtual summit on Saturday –which lasted one hour, discussed strengthening of bilateral financial cooperation, reviewed the entire range of bilateral matters and exchanged views on regional and international issues of common concern.

Amit Narang, Joint Secretary, Ministry of External Affairs, in a press briefing after the meeting, said: “India has already provided a $400 million currency swap facility to the Central Bank of Sri Lanka in order to assist with economic recovery and to tackle the Covid-19 related disruptions. An additional request for a bilateral currency swap

Read More

Editor’s Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC will update as changes are made public.

The student loan relief policies under the CARES Act, which were set to expire on September 30, have been extended through the end of the year. With this extension, most federal student loan borrowers can keep their monthly payments on pause without incurring any interest in the meantime.

This means that millions of borrowers can delay budgeting for their monthly loan payment, with no penalty, until January 2021.

The additional three months of relief comes in handy, especially if you’re struggling with other forms of debt. With student loan payments on hold, here are three options of what you can do with that money instead.

1. Put it toward your emergency savings

The economic fallout from

Read More