RBI and ECB signed MoU for co-operation in central banking

The Reserve Bank of India and the European Central Bank (ECB) have signed an MoU for co-operation in the area of central banking. The agreement provides a framework for information exchange, policy dialogue, and technical cooperation between the two institutions. RBI Governor Raghuram Rajan and President of ECB Mario Draghi signed the important agreement.

Knowledge is Wealth

• The Reserve Bank of India was set up based on the recommendations Hilton–Young Commission.
• The Hilton-Young Commission is also known as 1926 Royal Commission on Indian Currency and Finance.
• The Head Quarters of RBI is at Mumbai. 
• The Reserve Bank has two training colleges for its officers. i.e. Reserve Bank Staff College at Chennai, Tamilnadu and College of Agricultural Banking at Pune, Maharashtra.
• The Head Quarters of European Central Bank is at Frankfurt, Germany.