Law Notify : The Reserve Bank of India has signed a Memorandum of Understanding with the European Securities and Markets Authority during the recent visit of the President of the European Council and the President of the European Commission to India.

According to the Ministry of Finance, the MoU aims to facilitate the formal recognition of the Clearing Corporation of India Limited and other RBI-regulated Central Counterparties by ESMA. The agreement comes into force from the date of signing and will remain valid for an indefinite period.

The Ministry further noted that the RBI and ESMA will work closely through consultation, cooperation, and information exchange on the covered CCPs, while jointly monitoring their compliance with the conditions required for recognition.