Insolvency and Bankruptcy Board of India signs a Memorandum of Understanding with the Reserve Bank of India

Both the RBI and the IBBI are interested in the effective implementation of the Code and its allied rules and regulations, through a quick and efficient resolution process. Therefore, they have agreed under the MoU to assist and co-operate with each other for the effective implementation of the Code, subject to limitations imposed by the applicable laws. The MoU provides for inter alia (a) sharing of information between the two parties, subject to the limitations imposed by the applicable laws; and (b) periodic meetings to discuss matters of mutual interest, including regulatory requirements that impact each party’s responsibilities, enforcement cases, research and data analysis, information technology and data sharing.

March 19th, 2018