Current Affairs - Banking - Discussion

The Bank of Mauritius (BOM) signed a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI) to facilitate trade transactions in Indian Rupees (INR) and Mauritian Rupees (MUR). This agreement is aimed at promoting bilateral trade and financial cooperation between India and Mauritius by enabling transactions in their respective local currencies, reducing costs and improving efficiency in cross-border trade. The MoU is a step toward strengthening the economic and financial ties between the two nations.