Fiinews

Central banks to cooperate in area of financial innovation The Reserve Bank of India and the State Bank of Vietnam has signed a Memorandum of Understanding (MoU) to promote cooperation in financial innovation and digital payments, including information sharing, regulatory coordination and payment system connectivity for cross-border QR Code-based merchant payments. The MoU, signed on 5 May, marks a forward-looking and substantive step towards strengthening bilateral cooperation in financial innovation and digital payments, with potential to enhance cross-border payment linkages and position India as a major fintech hub, the Finance Ministry said on 29 May. With the approval of the...