Overview
- The RBI and the ECB signed a revised cooperation MoU on Sunday, updating a 2015 pact to set up regular information sharing, policy talks and technical work.
- ECB President Christine Lagarde called the step a pledge to sustain global cooperation, signing the document with RBI Governor Sanjay Malhotra.
- The signing occurred on the sidelines of Bank for International Settlements meetings in Basel, according to Indian Express.
- Separately, the RBI issued new 2026 rules for authorised persons in foreign exchange that simplify approvals and let banks and dealers use agents to offer forex services with checks in place.
- The framework sits alongside work to link India’s UPI with Europe’s TARGET Instant Payment Settlement (TIPS) and follows EU moves on Indian clearing houses that strained cross-border oversight.