Mumbai, Mar 15 (KNN) The Reserve Bank of India (RBI) has entered into an agreement with Financial Services Agency (FSA), Japan, for “Co-operation in the area of Banking Supervision”. 

A 'Letter' in this regard was signed and exchanged between the two parties at the FSA Head Quarters in Tokyo, the apex bank said in a statement. 

RBI has also been signing such Memorandums of Understanding (MoU) with supervisors of other countries to promote greater co-operation and sharing of supervisory information. 

Till date, it has signed 19 such MoUs. Exchange of Letters (EoL) is also a popular practice among the global supervisors for setting up a formal platform/gateway for exchange of supervisory information and enhancing supervisory cooperation. 

This is the first EoL being entered into by RBI with an overseas supervisor. (KNN/SD)