RBI, Bank of England sign MoU to facilitate cross-border settlement, clearing activities

The Reserve Bank of India (RBI) and Bank of England (BoE) have signed a Memorandum of Understanding (MoU) to cooperate and exchange information regarding the Clearing Corporation of India (CCIL). The Indian High Commission in London informed in a press release that the MoU was signed by RBI Deputy Governor T Rabi Sankar and BoE Deputy Governor for Financial Stability, Sarah Breeden. The MoU aims to establish a framework for effective facilitation of cross-border settlement and clearing activities.

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