Bank governance strengthened through an autonomous Banks Board Bureau to advise on senior appointments and strategic capital planning.
Creation of an autonomous Banks Board Bureau to improve governance of Public Sector Banks by recommending heads of banks and financial institutions and assisting in strategy and capital raising plans. The Bureau is a part time body comprising a Chairman, three ex officio members and three expert members, centralizing oversight and succession recommendations for the public banking sector and commencing operation on the announced start date.

Reference rate for US Dollar published; cross-currency rupee rates for euro, pound, yen and SDR rupee basis updated.
The Reserve Bank of India published the US Dollar Reference Rate for 26 February 2016 and the prior day's rate; using that USD reference rate and middle cross currency quotes, it reported rupee exchange rates for the euro, pound sterling and Japanese yen and stated that the SDR Rupee rate will be based on the published reference rate.

Reference Rate for US Dollar published by central bank; cross currency exchange rates and SDR Rupee linkage set.
The central bank published the Reference Rate for the US Dollar and provided corresponding cross currency exchange quotations for euro, pound sterling and yen against the rupee, comparing the current and prior day figures; it further specified that the SDR Rupee rate will be based on the published reference rate.

Digital payments promotion shifts government transactions to non cash modes and mandates card/digital acceptance beyond thresholds.
Promotion of payments through cards and digital means implements measures to reduce cash transactions by expanding acceptance infrastructure, withdrawing surcharge or convenience charges on card/digital payments by government entities, rationalising and differentiating Merchant Discount Rate across segments, mandating card/digital payment above prescribed thresholds, introducing formulae linked acceptance infrastructure for certain card products, rationalising telecom charges for digital transactions, promoting mobile banking, and creating assurance mechanisms for prompt resolution of fraudulent transactions.

Reference Rate for the US Dollar set; cross currency middle rates determine euro, pound and yen exchange rates.
Reserve Bank of India fixed the Reference Rate for the US Dollar at Rs. 68.5650 on February 24, 2016 and, using that Reference Rate and middle cross currency rates, published the derived exchange rates for the euro, pound sterling and 100 Japanese yen against the rupee; the SDR Rupee rate is stated to be based on the published Reference Rate.

Reference Rate for US Dollar updated, affecting rupee exchange rates for euro, pound and yen and guiding the SDR rupee rate.
Reserve Bank announces the Reference Rate for the US Dollar on February 23, 2016, records the prior day's rate for comparison, and, using the US Dollar reference plus cross currency middle rates, publishes corresponding rupee exchange rates for the euro, pound sterling and Japanese yen; the SDR Rupee rate will be based on the reference rate.

Inflation concerns prompt caution in monetary policy, balancing global disinflation with domestic price pressures and wage risks.
Monetary policy guidance balanced global disinflationary forces against persistent domestic inflationary pressures, noting rising headline and core inflation, high services inflation, elevated inflationary expectations, and food price spikes; potential wage-price effects from pay commission implementation and nominal currency depreciation could mitigate disinflation, supporting a cautious approach to policy easing while awaiting clearer fiscal and supply-side developments.

Reference rate publication: establishes daily exchange-rate benchmark and governs SDR Rupee calculation and cross currency quotations.
Publication of the Reserve Bank of India Reference Rate for the US Dollar on February 22, 2016 fixes the official benchmark exchange rate; using that USD benchmark and middle rates of cross-currency quotes, the RBI derives exchange rates for EUR, GBP and JPY against the Rupee. The press note specifies that the SDR Rupee rate will be based on the published reference rate.

Reference rate publication updates the USD benchmark and sets derived rupee rates for cross currency and SDR conversion.
Publication of a reference rate for the US dollar and derived rupee exchange rates for the euro, pound sterling and Japanese yen based on the dollar reference and middle cross currency rates; the notice also specifies that the SDR Rupee rate will be based on the published US dollar reference.

Reference rate for US Dollar established, guiding cross-currency rupee rates and determining the SDR Rupee rate.
Reference rate for the US Dollar is announced and the prior day's figure given; using the USD reference rate and middle cross-currency quotes, corresponding rupee exchange rates for the euro, pound and yen are provided, and the SDR Rupee rate is based on that USD reference rate.

Foreign direct investment approvals: government cleared multiple proposals and referred a major telecom acquisition to CCEA for decision.
The Government approved ten FDI proposals and recommended one significant telecom acquisition to the CCEA under the FDI policy. Approved items include share transfers, ESOP issuances and fresh equity subscriptions, conversion of an overseas subsidiary's activity, downstream investments and authorization to act as a BBPOU. Eight proposals were deferred for further scrutiny, five were rejected for failing to satisfy policy or compliance expectations, and two were held to lie outside the Board's remit. The actions apply sectoral FDI norms across telecom, pharma, insurance, e commerce, infrastructure and power.

Reference rate for US dollar establishes rupee exchange benchmarks and sets cross-currency rates for euro, pound and yen.
The Reserve Bank of India published the Reference Rate for the US dollar as the primary rupee benchmark and provided euro, pound sterling and yen exchange rates derived from that reference using middle rates of cross-currency quotes; it further states the SDR Rupee rate will be based on the Reference Rate.

Reference rate published, determining cross currency exchange rates and linking the SDR rupee calculation to that benchmark.
The Reserve Bank published the Reference Rate for the US Dollar and, using that reference and the middle rates of cross currency quotes, supplied corresponding rupee exchange rates for the Euro, Pound Sterling and Japanese Yen; the SDR Rupee rate is stated to be based on the published reference rate.

Reference rate update for US dollar establishes rupee exchange rates for euro, pound and yen based on cross currency quotes.
Reserve Bank of India sets the Reference Rate for the US Dollar and, using that rate with the middle cross currency quotes, provides rupee exchange rates for the euro, pound sterling and the yen; the SDR Rupee rate will be based on the published Reference Rate.

Cooperative banking regulation driving governance and capital reforms to strengthen rural credit delivery and financial inclusion.
Rural cooperative credit institutions have expanded in reach but suffer from legal, structural and governance weaknesses with wide variations in capital adequacy, asset quality and recovery performance. Regulatory reforms have emphasised licensing, phased adoption of Basel I CRAR targets, equalising reserve and SLR requirements with commercial banks, harmonising supervision within RBI, and enabling technology and investment permissions. Repositioning requires implementing governance mandates (professional directors, qualified auditors, fit-and-proper CEOs), improving audit quality and internal controls to prevent frauds, strengthening loan appraisal and recovery, adopting technology with robust risk frameworks, and leveraging PACS-DCCB-StCB infrastructure for financial inclusion.

Tax revenue growth led by indirect taxes may offset direct tax shortfalls, keeping the annual revenue target achievable.
Combined direct and indirect tax receipts through 31 January 2016 display divergent growth-robust indirect tax gains and modest direct tax increases-but projected indirect tax surpluses may offset direct tax shortfalls so that aggregated revenue is expected to meet the annual BE target for 2015-16.

Reference Rate for US Dollar establishes rupee benchmarks and sets basis for cross currency exchange rates and SDR conversion.
The Reserve Bank of India published a daily reference rate for the US Dollar and derived rupee exchange rates for euro, pound sterling and yen using middle cross-currency quotes; the SDR-rupee rate is to be based on that reference rate, serving as the official benchmark for market participants.

Reference rate for the US Dollar published; sets Rupee benchmarks and determines SDR Rupee valuation from cross currency rates.
The Reserve Bank of India published a US Dollar reference rate for the stated date, provided the immediately preceding day's reference, and presented derived Rupee exchange rates for the Euro, Pound Sterling and Japanese Yen computed from cross currency middle rates; it further specified that the SDR Rupee rate will be based on the announced US Dollar reference rate.

Reference rate for US dollar set; cross currency exchange conversions updated and SDR rupee linkage established under the reference rate.
Announcement of the reference rate for the US dollar and corresponding middle-rate conversions for euro, sterling and yen against the rupee, noting that the SDR Rupee rate will be based on the published reference rate; the notice serves as an official market benchmark for currency conversion tied to the reference rate.

Reference rate for US dollar updated; euro, pound and yen rates derived and SDR rate based on it.
The Reserve Bank of India issued the operative US dollar reference rate for February 5, 2016 and noted the prior day's value. Based on that reference rate and middle cross currency quotes, the Bank published derived exchange rates for the euro, pound sterling and Japanese yen against the rupee, and indicated that the SDR rupee rate will be based on the reference rate.