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    Question

    The Reserve Bank of India and Bank of England has signed

    a memorandum of understanding. What is theĀ  recent development that has occurred between the Reserve Bank of India (RBI) and the Bank of England (BoE)?
    A Signing a trade agreement Correct Answer Incorrect Answer
    B Establishing a framework for cooperation Correct Answer Incorrect Answer
    C A dispute over financial regulations Correct Answer Incorrect Answer
    D Imposing sanctions Correct Answer Incorrect Answer
    E Currency exchange negotiations Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India and Bank of England has signed a memorandum of understanding which will end the imbroglio over British banksā€™ participation in Indian bonds and derivative market. The MoU establishes a framework for the BoE to place reliance on RBIā€™s regulatory and supervisory activities while safeguarding UK financial stability.

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