The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) to improve mutual cooperation between them. the MoU was signed in Bali, Indonesia. RBI Deputy Governor Michael Debabrata Patra and BI Deputy Governor Dody Budi Waluyo signed the MoU.
- RBI and BI will strengthen relations between the two central banks and will exchange information and cooperation in the area of central banking, including payment systems, digital innovation in payments services, and regulatory and supervisory framework for Anti Money Laundering and Combating the Financing of Terrorism (AML-CFT).
- The agreement will help in offering a good basis for promoting mutual understanding, developing efficient payment systems, and achieving cross-border payment connectivity.
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