The Memorandum of Understanding (MoU) establishes a framework for the Bank of England to place reliance on the Reserve Bank of India's (RBI)
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The central banks of India and England on Friday, signed an agreement on information exchange regarding bond settlement house Clearing Corporation of India (CCIL).
The Memorandum of Understanding (MoU) establishes a framework for the Bank of England to place reliance on the Reserve Bank of India's (RBI) regulatory and supervisory activities while safeguarding U.K.'s financial stability," the RBI said in a statement.
(Reporting by Siddhi Nayak; Editing by Nivedita Bhattacharjee)
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