RBI and Bank of Mauritius Sign MoU to Promote Trade in Local Currencies
| Summary/Static | Details |
|---|---|
| Why in the news? | RBI and Bank of Mauritius Sign MoU to Promote Trade in Local Currencies |
| MoU Signed By | RBI & Bank of Mauritius (BOM) |
| Signatories | Sanjay Malhotra (RBI) & Rama Krishna Sithanen (BOM) |
| Date & Location | March 12, 2025, Port Louis, Mauritius |
| Presence Of | PM Narendra Modi (India) & PM Navinchandra Ramgoolam (Mauritius) |
| Objective | Promote INR-MUR use in bilateral trade |
| Scope | Current account & permissible capital account transactions |
| Key Benefits | Cost reduction, faster settlements, enhanced trade |
| Strategic Impact | Strengthens financial integration & economic ties |