State Minister for ICT Division Zunaid Ahmed Palak held a bilateral meeting with Deputy Governor of Reserve Bank of India (RBI) T Rabi Sankar at RBI’s main office in Mumbai on Thursday.

In the meeting, they shared their views on the revolutionary changes in the traditional banking system and how technology has driven the world towards a digital economy and banking system, an official handout said here today.

Palak discussed with the deputy governor about the signing of the memorandum of understanding (MoU) to examine the initiative of using the Interoperation Transaction System and cooperate in making the Joint Innovation Hub on a partnership basis with the ICT Division.

A number of officials, including RBI Executive Director Vivek Deep and RBI Chief General Manager Shailendra Trivedi, were present there. Besides, Palak held another meeting with National Payments Corporation of India (NPCI)’s International Payments Limited (NIPL) Chief Executive Officer (CEO) Ritesh Shukla at NPCI building in Mumbai, the release added.

They discussed the introduction of cross-border transaction facility at the consumer level after the introduction of taka-rupee exchange and the digital payment infrastructure of NPCI of India to facilitate e-commerce payments.

Palak was informed about India’s Digital National ID, Aadhaar, digital personal and professional records storage and the proper usage of DigiLocker.

They agreed to sign a MoU between these two neighboring countries to implement ‘Smart Bangladesh: Vision 2041’ to make Bangladesh-India relationship more strong in the days to come.