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RBI, Bank of England sign MoU concerning Clearing Corporation

Published on December 04, 2023
Current Context: The Reserve Bank of India (RBI) and the Bank of England (BoE) have signed a Memorandum of Understanding (MoU) concerning cooperation and exchange of information about the Clearing Corporation of India Ltd (CCIL) on 1st December 2023 in London.
RBI, Bank of England sign MoU concerning Clearing Corporation
  • The objective of the MoU is to establish a framework for the BoE to place reliance on the RBI’s regulatory and supervisory activities while safeguarding UK financial stability.
  • This MoU also demonstrates the importance of cross-border cooperation to facilitate international clearing activities and the BoE’s commitment to deference to other regulators’ regimes.
  • The MoU was signed by RBI Deputy Governor T Rabi Sankar and BoE Deputy Governor for Financial Stability Sarah Breeden.

Question:

Q.1 When was the Memorandum of Understanding (MoU) between the Reserve Bank of India (RBI) and the Bank of England (BoE) signed?
a. 1st November 2023
b. 1st December 2023
c. 1st January 2024
d. 1st February 2024

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