Question: Reserve bank Of India (RBI) has signed a Memorandum of Understanding (MoU) on Supervisory Cooperation and Exchange of Supervisory Information from which of the following bank?
(a) Central Bank of China
(b) Central Bank of UAE
(c) Central Bank of America
(d) Central Bank of Australia
- On 19 October 2015, The Reserve Bank of India (RBI) has signed a Memorandum of Understanding (MoU) with the Central Bank of United Arab Emirates (UAE) on Supervisory Cooperation and Exchange of Supervisory Information.
- According to this agreement a system will be developed to promote greater co-operation and share supervisory information among banks and other financial institutions.
- With this RBI has signed 29 such MoUs, one Letter for Supervisory Co-operation (LSC) and one Statement of Co-operation (SoC).
- The MoU was signed by Mrs. Meena Hemchandra, Executive Director on behalf of the Reserve Bank of India and Mr. Saeed Abdulla Al Hamiz, Assistant Governor for Banking Supervision Affairs on behalf of Central Bank of UAE at the Head Office of Central Bank of UAE at Abu Dhabi, United Arab Emirates.
- Mr T.P. Seetharam, Indian Ambassador to UAE was present at the occasion.