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)