BANKING AFFAIRS

Detailed explanation-1: -India and Maldives share ethnic, linguistic, cultural, religious and commercial links steeped in antiquity. The relations have been close, cordial and multi-dimensional. India was among the first to recognize Maldives after its independence in 1965 and to establish diplomatic relations with the country.

Detailed explanation-2: -Since the success of Operation Cactus, the relations between India and Maldives have expanded significantly. India has provided extensive economic aid and has participated in bilateral programmes for the development of infrastructure, health, telecommunications and labour resources.

Detailed explanation-3: -It lies southwest of Sri Lanka and India, about 750 kilometres (470 miles; 400 nautical miles) from the Asian continent’s mainland. Maldives’ chain of 26 atolls stretches across the equator from Ihavandhippolhu Atoll in the north to Addu Atoll in the south.