“With this MoU, RBI and BI dedicated to deepen relations between each central banks and strengthen the alternate of data and cooperation within the space of central banking, together with cost programs, digital innovation in funds companies, and regulatory and supervisory framework for AML-CFT,” the RBI mentioned in a press release.
The MoU will likely be carried out by way of coverage dialogue, technical cooperation, alternate of data and joint work.
It was signed by RBI Deputy Governor Michael Debabrata Patra and BI Deputy Governor Dody Budi Waluyo within the presence of RBI Governor Shaktikanta Das and BI Governor Perry Warjiyo.
“This MoU serves as a major milestone within the relation between Financial institution Indonesia and Reserve Financial institution of India. It has been a protracted time frame since we started cooperating productively, and this MoU will solely guarantee a extra stable collaboration sooner or later.
“Going ahead, I’m satisfied that such wonderful partnership will lead to fruitful outcomes that profit each central banks and the folks of each nations,” Governor Warjiyo mentioned.
RBI Governor Shaktikanta Das famous that “this MoU is a step ahead in placing our joint efforts inside a proper mechanism.”
He additionally expressed the hope that “going forward, the MoU will allow us to additional deepen our relationships and facilitate our endeavour to make our monetary programs accessible, inclusive and safe.”
The RBI additional mentioned the MoU can even present a superb foundation for selling mutual understanding, creating environment friendly cost programs and attaining cross-border cost connectivity.
Such initiatives, it mentioned, will likely be executed by way of common interplay on latest financial and monetary developments and points; technical cooperation by way of coaching and joint seminars; and joint work to discover the institution of cross-border retail cost linkages.