Banking research: diagnose asset quality, credit delivery and leverage risks to inform policy and operational reforms.
Research must address core weaknesses in the Indian banking system-asset quality, capital adequacy, profitability, risk management and governance-by producing empirical, policy oriented analysis of productivity, revenue allocation and delivery models. Priority research domains include agriculture (credit access, concentration, small farmer marginalisation, decline in long term credit and timeliness), MSMEs (reasons for enterprise distress, lifecycle finance needs, and credit delivery models) and corporate leverage (debt concentration, multilayered structures, deleveraging impacts and stalled project case studies). Improvements in data architecture, survey methods and case study research are essential to support robust policy recommendations.

Reference Rate for US Dollar establishes rupee benchmark and determines EUR, GBP, JPY exchange rates and SDR conversion.
The Reserve Bank of India publishes a Reference Rate for the US Dollar serving as the rupee benchmark; the RBI quotes a US Dollar reference rate and, using middle rates of cross currency quotes, derives exchange rates for the euro, pound sterling and yen, and states that the SDR Rupee rate will be based on that reference rate.

Monetary Policy Review scheduled for announcement via press release, signaling an official central bank policy update.
The central bank will issue the Sixth Bi monthly Monetary Policy Review for 2015 16 by press release on the specified date and time, designating that press release as the official mechanism for communicating its policy update.

Sovereign Gold Bonds uptake increases; tranche issuance, eligibility, investment limits and eight year tenor outlined.
Sovereign Gold Bonds are issued in tranches by RBI on behalf of the Government, denominated in grams of gold and payable in rupees; they require a minimum investment of two grams, impose a per person annual subscription cap, restrict sales to resident Indian entities, pay a fixed annual interest half yearly, run for eight years with an exit option from year five, and on maturity return the rupee equivalent of the invested gold at prevailing prices.

Reference rate for US Dollar published and used to derive other currency and SDR Rupee exchange rates by RBI.
The Reserve Bank of India issues a daily Reference Rate for the US Dollar and publishes the preceding day's figure; using that USD reference and the middle rates of cross currency quotes, it derives exchange rates for the euro, pound sterling and the yen against the rupee. The SDR Rupee rate is stated to be based on the published reference rate.

Reference rate for US dollar updated; informs rupee cross currency quotes and determines SDR rupee conversion policy.
Reserve Bank of India announced the reference rate for the US dollar and indicated that euro, pound sterling and Japanese yen rupee exchange rates are derived from that US dollar reference rate using middle cross currency quotes; the SDR rupee rate will be based on the announced reference rate.

RBI reference rate updates determine dollar valuation and set cross currency exchange rates and the SDR rupee basis.
The Reserve Bank of India published the Reference Rate for the US dollar on January 25, 2016, fixing the official dollar rupee valuation and noting the prior day figure; it sets derived exchange rates for EUR, GBP and JPY by using middle rates of cross currency quotes, and states that the SDR rupee rate will be based on this published reference rate.

Gold monetisation scheme changes permit premature redemption and direct refiner deposits, relax licensing and clarify fees and tax exemptions
Modifications to the Gold Monetisation Scheme permit premature redemption of medium and long term deposits subject to reduced interest, allow banks to charge service fees covering purity testing and refining, and enable direct deposit to refiners alongside CPTCs. BIS relaxed refiner experience requirements and invited jewellers to act as collection centres with refiner tie-ups. Gold may be recorded to three decimals and of any purity, with CPTCs/refiners certifying purity. Banks may hedge short-term deposits; interest calculation and lending against deposits are clarified. Tax exemptions for interest and capital gains under the scheme are maintained.

Government securities auction: re issue offered via multiple price electronic bidding with competitive and non competitive participation.
Re issue auctions of four Central Government stocks will be conducted by the Reserve Bank of India using the multiple price method, with up to a specified proportion of each notified amount allotted to eligible individuals and institutions under the Non Competitive Bidding Facility. Competitive and non competitive bids must be submitted electronically on the RBI E Kuber system within prescribed time windows; auction results and payment dates are specified, and the stocks are made eligible for When Issued trading under RBI guidelines.

Reference rate for US Dollar sets euro, pound and yen rupee rates and determines SDR rupee conversion.
The published US Dollar reference rate serves as the benchmark for rupee valuation on the stated date and, together with middle cross currency rates, is used to derive rupee exchange rates for the euro, pound and yen; the SDR Rupee rate is explicitly determined on the basis of that reference rate.

Gold monetization scheme amendments allow premature withdrawals after lock in with interest penalties and direct refiner deposits.
Amendments to the Gold Monetization Scheme permit premature withdrawal of medium and long term government gold deposits after the respective lock in periods subject to a lower interest rate penalty based on actual deposit duration; allow direct deposit with refiners where assaying capacity exists to reduce time to interest accrual; provide a first year commission to participating banks for handling and distribution; and require regular review of the Scheme to resolve implementation issues and enhance customer friendliness.

Reference rate for the US dollar published, establishing corresponding rupee cross-rates and SDR rupee linkage for market guidance.
The Reserve Bank of India published the reference rate for the US dollar, providing the rupee value and prior-day comparison as an operational benchmark. Based on that reference and middle cross currency quotes, the rupee exchange rates for the euro, pound sterling and Japanese yen are furnished, and the SDR Rupee rate is declared to be based on the published reference rate.

Reference rate for US dollar sets exchange benchmarks and determines euro, pound, yen rates and the SDR rupee linkage.
The Reserve Bank of India published the reference rate for the US dollar and, using that reference together with cross currency middle rates, provided corresponding rupee exchange rates for the euro, pound sterling and Japanese yen; the press release further states that the SDR Rupee rate will be based on the published reference rate.

Sovereign Gold Bond scheme: IDFC Bank added as receiving office; notification amended, other terms unchanged.
The government amended the January 14, 2016 notification for the Second Tranche of the Sovereign Gold Bond Scheme 2016 to include IDFC Bank Limited as a designated Receiving Office by modifying Annexure-I; all other terms and conditions of the notification remain unchanged.

Reference rate for US dollar establishes benchmark for rupee, determining cross currency exchange rates and SDR rupee linkage.
The Reserve Bank's US Dollar reference rate operates as the primary benchmark; using that rate and middle cross currency quotes the Bank supplies derived rupee exchange rates for the euro, pound sterling and yen, and expressly states that the SDR Rupee rate will be based on this reference rate.

Government securities re-issue auction using price-based multiple-price method with reserved non-competitive allotment and electronic bidding.
Re-issue auctions of multiple Government of India securities will be conducted by the Reserve Bank of India using a price-based multiple-price auction. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via the Reserve Bank's E-Kuber system within specified submission windows. Auction results will be announced on the auction date and settlement will occur on the prescribed payment date. The stocks will be eligible for When Issued trading under the Reserve Bank's when-issued transaction guidelines.

Ind AS implementation roadmap: mandatory phased adoption for banks, insurers and specified NBFCs with group coverage.
Ind AS adoption is mandated for scheduled commercial banks (excluding RRBs), insurers, and specified NBFCs in a phased roadmap: banks and insurers must prepare Ind AS individual and consolidated financial statements from the applicable transition period; UCBs and RRBs remain outside Ind AS for now. NBFCs adopt Ind AS in two phases according to corporate status, listing intent and net worth bands, with covered group entities also required to apply Ind AS. Entities below the lowest net worth threshold continue with existing Accounting Standards. Adoption is mandatory where criteria are met; voluntary adoption is not permitted, though Ind AS data may be supplied for consolidation by a parent or investor.

Reference rate update: revised US dollar benchmark underpins derived exchange rates and SDR rupee valuation.
RBI announced an updated reference rate for the US Dollar, establishing the official rupee conversion benchmark. Using the US Dollar reference and the middle rates of cross-currency quotes, the Reserve Bank published derived exchange rates for the Euro, Pound Sterling and Japanese Yen. The announcement specifies that the SDR Rupee rate will be calculated on the basis of the published reference rate, and records current and preceding reference day figures to support transparency in benchmark publication.

Reference rate for US dollar updated; euro, pound and yen rupee exchange rates set from that benchmark.
The Reserve Bank of India published the US dollar reference rate for January 15, 2016 and compared it with the prior day's rate; using that reference and cross currency middle rates, it provided rupee exchange rates for the euro, pound sterling and Japanese yen and stated that the SDR Rupee rate will be based on the reference rate.

Sovereign Gold Bonds: banks urged to promote the next tranche, stressing tax exemption and long term investment features.
Sovereign Gold Bonds are issued by the central bank on behalf of the government, denominated in grams and payable in rupees; resident Indian entities including individuals, HUFs, trusts and institutions are eligible. Bonds carry a fixed nominal interest paid semiannually, are available in demat and paper form, have an eight year tenor with an exit option from the fifth year on interest dates, and the issue price is fixed by reference to the previous week's average gold price. KYC follows gold norms and capital gains tax exemption applies.