India has decided to renew its subscription of $50 million in government treasury bills issued by the Maldives for an additional year. The initial subscription was due to mature on September 19, 2024, but has been extended following a request from the Maldivian government.

In May 2024, the State Bank of India (SBI) also subscribed to a similar $50 million in Maldivian treasury bills through the same mechanism. These financial commitments are part of India's continuous efforts to support the economic stability of the Maldives.

This extension of the treasury bill subscription underscores the strong bilateral ties between India and the Maldives, reflecting India's commitment to assist the island nation in navigating economic challenges while promoting regional stability and development.