New Delhi, May 11: The Reserve Bank of India (RBI) and the European Central Bank (ECB) have signed a Memorandum of Understanding (MoU) to enhance mutual cooperation. The RBI announced this development on the social media platform ‘X’.
The RBI noted that the MoU aims to facilitate regular information exchange, policy dialogue, and technical cooperation between the two institutions in areas of mutual interest within central banking.
RBI Governor Sanjay Malhotra and ECB President Christine Lagarde signed the agreement on Sunday during the meetings of the Bank for International Settlements (BIS) in Basel. This MoU updates a previous agreement from 2015.
Recently, the RBI launched ‘Mission Saksham’ to strengthen the urban cooperative banking sector. This initiative is a nationwide training and capacity-building program aimed at enhancing the efficiency and management of cooperative banks.
According to the central bank, the program will train approximately 140,000 individuals, including bank board members, senior management, and heads of risk, compliance, and audit departments, as well as staff in IT and other critical areas.
The training will be conducted through both offline (in-person) and online (e-learning) formats to reach a wider audience. The term ‘Saksham’ means to empower and enable. The RBI aims to ensure that training programs are available in regional languages to facilitate understanding among employees from different states.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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