The Reserve Bank of India and the European Central Bank have signed a revised agreement to strengthen policy coordination, financial cooperation and institutional engagement in central banking operations.

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• The Reserve Bank of India and the European Central Bank signed a revised Memorandum of Understanding to strengthen cooperation in central banking and financial sector coordination.
• The updated agreement replaces the earlier 2015 framework and aims to deepen institutional engagement between the two major central banking authorities.
• RBI Governor Sanjay Malhotra and ECB President Christine Lagarde signed the agreement during the Bank for International Settlements meetings held in Basel, Switzerland.
• The new framework will facilitate regular exchange of information, policy dialogue and technical cooperation in areas of mutual financial and regulatory interest.
• The partnership is expected to improve collaboration on banking practices, financial stability measures and evolving global monetary policy challenges.
• The agreement highlights growing strategic and economic engagement between India and the European financial system amid changing global economic conditions.
• RBI stated that the renewed arrangement would further strengthen cooperation on central banking practices and broader financial sector developments.
• The development comes at a time when global central banks are focusing on inflation management, financial resilience and coordinated policy responses.