The objective of this Memorandum of Understanding is to establish a collaborative work process, between the Department and the Institute, which will enhance capacity at the Department in its tasks of financial and monetary institution building. Providing research and consultancy to the Department on issues related to implementation of Financial Sector Legislative Reforms Commission (FSLRC) recommendations, financial markets including Sovereign Credit Rating, Study of Debt Sustainability, Cryptocurrency-related matters and Payment and Settlement Systems (PSS), Research on potential of internationalization of the Indian currency, framing of rules and regulations of the Resolution Corporation (RC), Comprehensive foreign investment law, and Research assistance for establishment-related aspects of setting up a Financial Data Management Centre.