RBI signs MoU with Central Bank of Seychelles on info exchange

In Banking and Finance
May 22, 2015

The Reserve Bank of India has signed an MoU with the Central Bank of Seychelles (CBS) on exchange of information and mutual assistance in the banking sector supervision. The MoU was witnessed by C Edmond, First Deputy Governor, CBS and SS Mundra, Deputy Governor of the RBI. Signing MoU with overseas banks will promote greater co-operation and sharing of supervisory information among the authorities.

Including this, RBI has signed 25 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation, with overseas regulators.

Tidbits

Seychelles is an archipelago in the Indian Ocean.
Capital of Seychelles is Victoria.
Currency of Seychelles is Seychellois Rupee.
James Michel is the current President of Seychelles.
Prime Minister Narendra Modi visited Seychelles on March 2015 and termed the country as “trusted friend and a strong strategic partner”.

GK Questions

What is an Archipelago? It is a chain, cluster or collection of islands.
Seychelles is a member of African Union. True or False? True.
Name the Deputy Governors of RBI? R Gandhi, SS Mundra, HR Khan, and Urjit R Patel.

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