RBI And European Central Bank Ink Pact To Deepen Central Bank Ties

New Delhi, May 11 (KNN) Reserve Bank of India (RBI) Governor Sanjay Malhotra and Christine Lagarde, President, European Central Bank (ECB), on Sunday signed a Memorandum of Understanding (MoU) to strengthen cooperation in central banking. 

The agreement was signed on the sidelines of meetings hosted by the Bank for International Settlements in Basel.

Framework for Policy Dialogue and Cooperation

The MoU updates an earlier agreement signed in 2015 and establishes a framework for regular exchange of information, policy dialogue, and technical cooperation between the two institutions. 

The collaboration will focus on areas of mutual interest within central banking.

Focus on Financial Stability and Global Coordination

The agreement is aimed at enhancing international financial stability and strengthening cross-border regulatory coordination. It reflects a continued effort by both central banks to deepen engagement amid evolving global economic conditions.

Commitment to Continued Engagement

The ECB President said, "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." 

(KNN Bureau)