The Bank of Israel signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Reserve Bank of India (RBI) on 8 March.

The signing of the MoU is intended to strengthen the ties between the Reserve Bank of India and the Bank of Israel, and reflects the commitment of the authorities to the principles of consolidated supervision and co-operation among banking regulators.

The MoU was signed by Mrs. Parvathy V. Sundaram, Chief General Manager-inCharge, Department of Banking Supervision on behalf of RBI, and Dr. Hedva Ber, Supervisor of Banks on behalf of the Bank of Israel. The MoU also reflects the commitment of the authorities to the principles of consolidated supervision and co-operation among banking regulators.

_{(Issue April 2016)}