New Delhi, Jan. 5 -- The Delhi government on Monday signed an MoU with the Reserve Bank of India.
The MoU enables the central bank to function as the banker, debt manager, and financial agent of the Delhi government, facilitating market borrowings through state development loans, automatic investment of surplus cash, professional cash management, and access to low-cost liquidity facilities, strictly within the framework prescribed by the Government of India and the RBI Act.
The MoU was signed at a meeting held at the Delhi Secretariat, chaired by the Chief Minister, between Reserve Bank of India and Bipul Pathak, Additional Chief Secretary (Finance) of the Delhi Government.
Senior officials from the Delhi Government and the Reserve Bank ...