Reserve Bank of India (RBI) and State Bank of Vietnam (SBV) sign MoU for digital payments

Exam-focused facts from the 31 May 2026 current affairs briefing.

Key facts

The Reserve Bank of India (RBI) and the State Bank of Vietnam (SBV) signed a Memorandum of Understanding (MoU) to strengthen cooperation in digital payments and financial innovation.
The agreement, approved by the Union Cabinet, focuses on developing payment system connectivity to enable cross-border QR code-based merchant payments between India and Vietnam.
The RBI and SBV will cooperate on sharing information regarding emerging market trends, innovative technologies, standards, best practices in digital payments, and regulatory frameworks.
The framework aims to facilitate trade and tourism and maintain smooth cross-border financial activities through cooperation in fast payment systems, messaging systems, and card switches.
The MoU was signed by the Deputy Governors of the RBI and the SBV.