Central Bank signs MoU with Reserve Bank of India for supervisory exchange of information

The Bank of Guyana has signed a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI) for the exchange of supervisory information.

According to RBI, the MoU on “Supervisory Cooperation and Exchange of Supervisory Information” was signed by Governor of the Bank of Guyana, Dr Gobind N. Ganga, and Governor of Reserve Bank of India, Dr Urjit R. Patel.

It was noted that the move was initiated by RBI which has also entered into MoUs with supervisors of a few countries to promote greater co-operation and share supervisory information.

With this, RBI has signed 40 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation, the bank said.

There is currently one Indian Bank operating in Guyana which is the Bank of Baroda. The Bank of Baroda (Guyana) Inc. is a subsidiary of the Bank of Baroda – India’s International Bank.