India and the International Monetary Fund (IMF) today signed an agreement to set up a South Asia regional centre for training officials in dealing with macro-economic and financial issues. A memorandum of understanding (MoU) to set up the centre was signed by Finance Minister Arun Jaitley and IMF Managing Director Christine Lagarde in New Delhi in the presence of Prime Minister Narendra Modi.The South Asia Regional Training and Technical Assistance Center or SARTTAC will become the focal point for planning, co-ordinating and implementing IMF's capacity development activity in the region on a wide range of issues. SARTTAC will offer courses and seminars for policymakers from the six countries of SAARC.India, Australia and the Republic of Korea have pledged financial support for the centre.