RBI signs info exchange pact with Bank of Zambia

The Reserve Bank has inked an information exchange pact with Bank of Zambia aimed at forging greater cooperation.

"The Reserve Bank signed a memorandum of understanding (MoU) on supervisory cooperation and exchange of supervisory information with Bank of Zambia," RBI said in a release.

The MoU was signed by Denny H Kalyalya, Bank of Zambia Governor, and Urjit Patel, the RBI chief.

RBI has entered into similar agreements of a few countries to promote greater synergy and share supervisory information.

With this, RBI has signed 36 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation.