RBI will exchange information and seek mutual assistance from Central Bank of Seychelles

Newsroom24x7 Staff

rbi gateNew Delhi: The Reserve Bank of India has signed a Memorandum of Understanding (MoU) on “Exchange of information and mutual assistance in banking sector supervision” with Central Bank of Seychelles (CBS).

This MoU is obviously, part of the drive to unearth black money and the global war against the menace of money laundering.

The MoU between RBI and Central Bank of Seychelle is significant  as Seychelles is known as a popular tax haven

 

The MoU for exchange of information and mutual assistance was inked by C. Edmond, First Deputy Governor, Central Bank of Seychelles and S. S. Mundra, Deputy Governor, Reserve Bank of India.

The Reserve Bank of India has been signing the Memorandum of Understanding / Exchange of Letters (EoL) / Statement of Co-operation (SoC) with supervisors of other countries to promote greater co-operation and sharing of supervisory information among the authorities. With this RBI has signed 25 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation, with overseas regulators/supervisors.

The MoU between RBI and Central Bank of Seychelle is significant  as Seychelles is known as a popular tax haven