The Indians have just finished a disappointing tour of Bangladesh, losing the ODI series 1-2, completing seven months of continuous cricket.
In this backdrop, selectors may give the younger players a chance with sources indicating that skipper Mahendra Singh Dhoni, Test captain Virat Kohli and top spinner R Ashwin are likely to be rested.
Raina, on the other hand, has been a stop-gap captain in shorter formats. Elsewhere, batsman Ajinkya Rahane is set to be picked for the series starting July 10.
"Ashwin and Kohli are playing both formats. Dhoni has also had a lot of workload since the Australia tour followed by the World Cup and a gruelling IPL. These three require rest. A fresh Kohli and Ashwin are a must for Sri Lanka Tests which will be a very tough assignment," a BCCI source told PTI.
Some of the certainties are Stuart Binny, Ambati Rayudu and Mohit Sharma. Pacer Umesh Yadav might get some much needed rest after injury free last six months.
The tour comprising three ODIs and two T20s was in doubt, but a BCCI release put all speculations to rest yesterday.