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India and Bangladesh on Monday discussed the review of the Line of Credit (LOC) and Bangladesh's participation in India's power exchange market. They also talked about how Bangladesh can gain insights from India's digital financial system.
High Commissioner Pranay Verma paid a courtesy call on Rashed Al Mahmud Titumir, Adviser (Ministry of Finance and Ministry of Planning) in the Prime Minister's Office on 16 March 2026. They discussed various aspects of India-Bangladesh economic cooperation, including ways to strengthen transport, energy and digital connectivity between the two countries. They also explored new areas for future collaboration in people-centric domains aligned with the respective developmental priorities of the two countries based on mutual interest and mutual benefit. "We mainly discussed three things. First, we talked about reviewing the Line of Credit (LOC) between Bangladesh and India on the basis of mutual interest, and both sides agreed on this. Second, we discussed India's market-based power exchange grid, from which Bhutan and Nepal already buy electricity, and whether Bangladesh could join that as well. Besides that, we discussed India's financial digital system--such as Aadhaar card and other operations--and we discussed how we can gain insights from that. These three topics were the main focus of our discussion", Rashed Al Mahmud Titumir, told ANI over the phone. Earlier on March 15, an official said that Bangladesh will import an additional 45,000 tons of diesel from India by April. "Recently, 5,000 tons of diesel arrived in Bangladesh from India, and we will receive another 5,000 tons around the 18th or 19th of March in Bangladesh from India", Md. Murshed Hossain Azad, General Manager (Commercial & Operations) of Bangladesh Petroleum Corporation (BPC) told ANI over the phone. "We have received a proposal to import an additional 40,000 tons of diesel from India. Once the procedural work is completed--that is, the opening of the LC and other formalities--this 40,000 tons of diesel will also arrive in Bangladesh by April," he added. Between India and Bangladesh, diesel was previously imported from India by train wagons until the India-Bangladesh Friendship Pipeline was launched. Then, in March 2023, the then Prime Minister of Bangladesh, Sheikh Hasina, and the Prime Minister, Narendra Modi, inaugurated this Bangladesh-India Friendship Pipeline, and since then, diesel has been imported from India through this pipeline. (ANI)
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