Confirming the news, Sri Lanka Cricket (SLC) said that seven T20Is will be played from March 8 to March 20 at the R Premadasa Stadium in Colombo.
The board further informed that each team is slated to lock horns twice with each other before the summit showdown on March 20.
The tri-series, which will be known as the Nidahas Trophy, will also mark the 70th year of the SLC.
Reflecting on the same, Board of Control for Cricket in India (BCCI) CEO Rahul Johri said that Sri Lanka and Bangladesh's cricket boards are really close to them and, therefore, they didn't think twice when SLC president Thilanga Sumathipala floated the invitation.
"We are privileged to be a part of Sri Lanka's 70th year celebrations, there is no closer friend to the BCCI than Sri Lanka [and Bangladesh] and when Sumathipala first floated this invitation, there was almost instant agreement that the Indian Team would participate for this reason," ESPNcricinfo quoted Johri as saying.
He insisted, "70 years is a long journey, and one that needs to be commemorated and celebrated. We are happy that our closest neighbours, who share more or less the same journey of independence, are joining us in this celebration, which we believe will be a milestone and an augur of the great things to come in the annals of cricket."