Memorandum of Understanding between Reserve Bank of India and Central Bank of United Arab Emirates

MoU between Reserve Bank of India and Central Bank of United Arab Emirates on co-operation concerning currency swap agreement

Question: Recently the Union Cabinet has given its ex-post facto approval for the Memorandum of Understanding (MoU) signed between Reserve Bank of India (RBI) and Central Bank of United Arab Emirates (UAE) for which of the following purpose?
(a) Tax Evasion
(b) Currency Swap
(c) Banking Reform
(d) Training
Ans (b)
Related facts:

  • On 4 May 2016 the Union Cabinet has given its ex-post facto approval for the Memorandum of Understanding (MoU) signed between Reserve Bank of India (RBI) and Central Bank of United Arab Emirates (UAE)  on co-operation concerning currency swap agreement.
  • The Memorandum of Understanding (MoU) was signed in February, 2016.
  • The MoU will further strengthen the close economic relationship and cooperation between India and United Arab Emirates.

Reference:

http://pib.nic.in/newsite/PrintRelease.aspx?relid=144857

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