RBI-ECB renew ties on information exchange

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The Reserve Bank of India and the European Central Bank have renewed their cooperation agreement to enhance central banking collaboration. This updates a previous memorandum signed in 2015, establishing a framework for information exchange and policy dialogue between the two institutions.

The Reserve Bank of India (RBI) and the European Central Bank (ECB) on Sunday signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation in the field of central banking.The agreement was signed by RBI Governor Sanjay Malhotra and ECB President Christine Lagarde on the sidelines of the Bank for International Settlements (BIS) meetings in Basel.Also Read: RBI eases rules for banks to include quarterly profits in regulatory capitalThe MoU updates the earlier agreement signed in 2015 and establishes a framework for regular exchange of information, policy dialogue and technical cooperation between the two central banks in areas of mutual interest. The RBI said the renewed arrangement is expected to further strengthen institutional engagement and collaboration on central banking practices and financial sector developments.