New Delhi, July 16: The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) to improve mutual cooperation between the two central banks.
The MoU was signed on Saturday in Bali, Indonesia, on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting, the RBI said in a statement.
With this MoU, RBI and BI committed to deepen relations between both central banks and strengthen the exchange of information and cooperation in the area of central banking, including payment systems, digital innovation in payments services, and regulatory and supervisory framework for Anti Money Laundering and Combating the Financing of Terrorism (AML-CFT).
The MoU, to be implemented through policy dialogue, technical cooperation, exchange of information and joint work, will also provide a good basis for promoting mutual understanding, developing efficient payment systems and achieving cross-border payment connectivity, the statement said.
With UNI Inputs…
