RBI, European Central Bank sign revised agreement on information exchange, central banking ties

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.

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The 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.