European Central Bank and Reserve Bank of India sign Memorandum of Understanding on cooperation

• MoU updates previous MoU of 2015, responding to internal requirements of both institutions

Christine Lagarde, President of the European Central Bank (ECB), and Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), today signed a Memorandum of Understanding (MoU) on cooperation in the field of central banking. The signing took place on the sidelines of the meetings of the Bank for International Settlements in Basel.

The MoU, which updates the previous MoU of 2015, provides a framework for a regular exchange of information, policy dialogue and technical cooperation between the two institutions. Technical cooperation may take the form of joint seminars and workshops in areas of mutual interest.

“It is important that we sustain global cooperation, and I am pleased to sign this MoU together with Governor Malhotra as a sign of our continued dialogue with the Reserve Bank of India,” ECB President Christine Lagarde said.

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