The Bank of Israel signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Reserve Bank of India.
The MoU was signed by Mrs. Parvathy V. Sundaram, Chief General Manager-in-Charge, Department of Banking Supervision on behalf of Reserve Bank of India (RBI), and Dr. Hedva Ber, Supervisor of Banks on behalf of the Bank of Israel.
As State Bank of India has a branch in Israel, the signing of the MoU is intended to strengthen the ties between RBI and BoI and promote the safe and sound functioning of that bank.
The Memorandum of Understanding also reflects the commitment of the authorities to the principles of consolidated supervision and cooperation among banking regulators.