RBI, Bank of England sign MoU for cooperation in CCIL issue

Why in News

      Memorandum of understanding on cooperation and exchange of information related to Clearing Corporation of India Ltd (CCIL) has been signed

Important Points

•     The Reserve Bank of India (RBI) and the Bank of England (BoE) recently inked a memorandum of understanding (MoU) centered on cooperation and information exchange concerning the Clearing Corporation of India Ltd (CCIL).

CCIL's Role:

•     CCIL is a central counterparty (CCP), is crucial for clearing and settlement in transactions related to government securities, foreign exchange, and money markets in India.

•     The regulatory oversight for CCIL falls under the purview of the RBI.