The Union Cabinet of India has approved a Memorandum of Understanding (MoU) on the collaborative research of distributed ledger technology (DLT). The research will be jointly conducted by the Export-Import Bank of India (Exim Bank) and one bank from each BRICS member states.
The MoU was initially proposed at the 10th International BRICS Summit held in Johannesburg in July, the main focus of which was cooperation in economic development in the face of the fourth industrial revolution. The banks then agreed to jointly study DLT in the interests of the development of the digital economy.
Source: The Moneycontrol
Static/Current Takeaways Important for Indian Bank PO Exam 2018-
- Venue of BRICS Summit 2019 – Brazil
- Exim Bank Headquarters in: Mumbai, Founded in: 1982, CEO- Shri Yaduvendra Mathur.