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ā¢ The Reserve Bank of India and Bank of England have signed a Memorandum of Understanding concerning cooperation and exchange of information in relation to the Clearing Corporation of India Limited.
ā¢ The MoU establishes a framework for the BoE to rely on RBI's regulatory and supervisory activities while safeguarding UK's financial stability.
ā¢ The MoU confirms the interests of both authorities in enhancing cooperation and enabling the BoE to assess the application of CCIL for recognition as a third country Central Counterparty.