The Reserve Bank of India, last fortnight, signed three Memoranda of Understanding – with Reserve Bank of Fiji (RBF), National Bank of Belgium (NBB) and Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin), Germany. The Reserve Bank has been signing the Memorandum of Understanding (MoU) with regulators of other countries to promote greater co-operation and sharing of supervisory information between the two supervisors. With this, the Reserve Bank has signed fifteen such MoUs.

The MoU with the Reserve Bank of Fiji was signed on March 05, 2013, at RBF headquarters, Suva, Fiji by Shri G. Jaganmohan Rao, Chief General Manager-in-Charge, Department of Banking Supervision, Reserve Bank of India and Mr. Barry Whiteside, Governor, RBF. His Excellency, Shri Vinod Kumar, Indian High Commissioner to Suva, Fiji, graced the occasion.

The MOU with the National Bank of Belgium was signed on March 13, 2013, at NBB headquarters, Brussels, by Shri G. Jaganmohan Rao, Chief General Manager-in-Charge, Department of Banking Supervision, Reserve Bank of India and Mr. Luc Coene, Governor, NBB. Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India and His Excellency Shri Dinkar Khullar, Indian Ambassador to Belgium, Luxembourg and the European Union, graced the occasion.

The MOU with the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin), Germany, was signed on March 15, 2013 at BaFin Hqrs, Bonn, by Shri G. Jaganmohan Rao, Chief General Manager-in-Charge, Department of Banking Supervision, Reserve Bank of India and Mr Raimund Röseler, Chief Executive Director Banking Supervision, BaFin. Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India graced the occasion. Shri Surender Kumar, Consul, represented the Indian Embassy, Germany, on the occasion.

Ajit Prasad

Assistant General Manager

Press Release : 2012-2013/1596

Cross-border supervisory cooperation enabled through MoUs, enhancing information-sharing and coordination between banking regulators. Signed Memoranda of Understanding establish cross-border supervisory cooperation between the Reserve Bank of India and three foreign banking regulators to facilitate structured exchange of supervisory information and promote regulatory coordination. The agreements formalise channels for sharing prudential and supervisory information, coordination on banking supervision matters, and mutual assistance in oversight, creating a framework for ongoing supervisory engagement and collaboration.