The Reserve Bank has signed a pact with Bank of Israel for exchange of information pertaining to banking supervision.

A Memorandum of Understanding (MoU) was signed by Hedva Ber, Supervisor of banks on behalf of Bank of Israel and Parvathy V Sundaram, Chief General Manager-in-Charge, Department of Banking Supervision on behalf of Reserve Bank of India, the RBI said in a statement.

The Reserve Bank has entered into an MoU, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries to promote greater co-operation and share supervisory information. With this, the RBI has signed 32 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation.

About Bank of Israel

• The Bank of Israel is the central bank of Israel. It is located in Kiryat HaMemshala in Jerusalem, with a branch office in Tel Aviv.
• The current governor is Karnit Flug. She is the first female Governor of the Bank of Israel.
• In 2010, the Bank of Israel was ranked first among central banks for its efficient functioning, according to IMD’s World Competitiveness Yearbook.
• Currency: New Israeli Sheqel