RBI and BOM Seal Historic Pact for Cross-Border Currency Transactions
The Reserve Bank of India (RBI) and the Bank of Mauritius (BOM) have inked a groundbreaking agreement to establish a framework fostering the use of the Indian Rupee and the Mauritian Rupee in cross-border transactions.The Memorandum of Understanding (MoU), signed by RBI Governor Sanjay Malhotra and BOM Governor Rama Krishna Sithanen G C S K, was exchanged in a ceremony attended by Indian Prime Minister Narendra Modi and Mauritian Prime Minister Navinchandra Ramgoolam in Port Louis on March 12, 2025.The MoU aims to facilitate invoicing and payment in domestic...