RBI and Bank Indonesia sign MoU to improve mutual cooperation

The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) in Bali, Indonesia, to improve mutual cooperation between them.

With this MoU, RBI and BI committed to deepening relations between the two central banks and strengthening the exchange of information and cooperation in the area of central banking, including payment systems, digital innovation in payments services, and regulatory and supervisory framework for Anti Money Laundering and Combating the Financing of Terrorism (AML-CFT).

The MoU, which was signed by RBI Deputy Governor Michael Debabrata Patra and BI Deputy Governor Dody Budi Waluyo on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting, will be implemented through policy dialogue, technical cooperation, exchange of information, and joint work.