The Delhi government and the RBI have signed a memorandum of understanding.

• The Delhi government and the Reserve Bank of India (RBI) have signed a Memorandum of Understanding (MoU).

• With this, Delhi has come under the RBI's banking, cash management, and debt management framework for the first time.

• The RBI will now act as the banker to the Delhi government.

• It will also act as the debt manager and financial agent for the Delhi government.

• With the signing of this MoU, Delhi can now raise funds through state development loans.

• The MoU also allows for automatic investment of surplus cash, professional cash management, and access to low-cost liquidity facilities.

• The MoU complies with the RBI Act and the guidelines of the Central Government.