Reference rate for US Dollar sets rupee exchange rates and determines SDR Rupee rate under RBI publication.
The Reserve Bank publishes the Reference Rate for the US Dollar and, using that rate together with middle rates of cross currency quotes, provides Rupee exchange rates for the Euro, Pound Sterling and Japanese Yen; the SDR Rupee rate is to be based on the published reference rate.

Reference rate for US dollar sets daily Rupee cross-currency rates and determines SDR-Rupee conversion basis.
Reserve Bank of India published the daily reference rate for the US dollar and, using that rate with middle cross currency quotes, provided derived Rupee exchange rates for the euro, pound sterling and the Japanese yen; the SDR Rupee rate will be based on the reference rate.

Payment systems closure suspends RTGS and NEFT operations on the specified date, with a broadcast to member banks.
All payment systems will remain closed on April 1, 2017; the earlier instruction that RTGS and NEFT would operate as on a normal working day through that date has been withdrawn and member banks will receive a separate broadcast notification. Instructions for Special Clearing operations on March 30 and March 31, 2017 remain unchanged and continue to apply.

Government business opening requirement eased: agency banks must maintain holiday operations but need not open on April first.
Agency Banks must keep branches dealing with government business open on all days in the current financial year, including weekends and holidays; however, those branches are exempted from opening on April 1, 2017 to avoid disruption from annual closing and bank mergers.

Reference rate published for the US Dollar, triggering derived cross-currency exchange rates and SDR Rupee linkage.
Publication of the Reference Rate for the US Dollar establishes an operative market benchmark; using that reference rate and middle cross-currency quotes the release provides corresponding exchange rates for the Euro, Pound Sterling and Japanese Yen against the Rupee, and specifies that the SDR-Rupee rate will be determined on that basis.

Treasury bill auction schedule notified for the quarter; dates and amounts may be modified and are subject to notification terms.
Notification of a quarterly Treasury Bills auction calendar sets specific weekly auction dates and prescribed issuance tranches across the 91 day, 182 day and 364 day tenors, with aggregate totals for the quarter, while preserving Government discretion to modify amounts or timing in response to cash management needs and market conditions; auctions are governed by the applicable General Notification and changes will be communicated by press release.

Government securities issuance calendar sets weekly dated auctions and reserves retail allocation via non-competitive bidding for transparency.
An indicative issuance calendar for Government dated securities covering April 1 to September 30, 2017 establishes a weekly auction schedule with tenor-wise allocations to assist investor planning and enhance market transparency; all auctions include a non-competitive bidding facility reserving five per cent of the notified amount for specified retail investors; the Government and the Reserve Bank retain flexibility to modify amounts, issuance periods, maturities and instrument types, including variable rate and non-standard maturities, after giving due notice.

Services sector promotion advances market access, export incentives and integrated support linking services with manufacturing.
The Government pursues a multi pronged strategy to promote trade in services through negotiation of market access via multilateral, plurilateral and bilateral agreements, trade promotion activities, targeted market and sector strategies, stakeholder consultations to address domestic constraints, and selective fiscal incentives under the Services Exports from India Scheme (SEIS). Key service inputs-IT/TeS, logistics, transport, financial services, utilities and professional services-are identified as critical to the 'Make in India' agenda, supported by complementary initiatives and FDI policy changes to boost sectoral growth.

Reference rate for US Dollar set by central bank determines exchange rates for euro, pound and yen against the rupee.
The Reserve Bank announced a reference rate for the US Dollar on March 27, 2017, compared it with the prior business day, and, using that reference together with cross-currency middle rates, published the exchange rates of the euro, pound sterling and Japanese yen against the rupee; the release further states that the SDR Rupee rate will be based on the reference rate.

NPA resolution plan to pressure large borrowers announced, aiming to fix stressed accounts and restore banking stability.
A NPA resolution initiative is being developed through coordination between the Finance Ministry and the central bank to compel large borrowers to address outstanding dues, with remedial action targeted at fixing a limited cohort of corporate accounts as the primary means to reduce systemic non performing assets.

Reference Rate for US Dollar used to derive cross currency exchange rates and to determine the SDR Rupee rate.
Reserve Bank of India published the Reference Rate for the US Dollar for March 24, 2017, and the preceding day, and used that reference rate with middle cross currency rates to derive exchange rates for the Euro, Pound Sterling and Japanese Yen; the SDR Rupee rate is to be based on the stated reference rate.

Reference rate for US Dollar published, triggering derived exchange rates for euro, pound and yen against the rupee.
The Reserve Bank of India published the Reference Rate for the US Dollar and, using that rate with middle cross-currency quotes, provided rupee exchange rates for the euro, pound sterling and Japanese yen; it further stated that the SDR-Rupee rate will be based on the reference rate.

Interest subsidy for middle income housing loans reduces EMIs and extends loan tenure to ease repayment obligations.
The Credit Linked Subsidy Scheme for Middle Income Groups (CLSS MIG) provides upfront interest subsidy on housing loans for specified urban income bands, with loan tenure capped at 20 years or borrower preference. National Housing Bank and HUDCO are Central Nodal Agencies reimbursing Primary Lending Institutions after PLI verification and sanction; PLIs include banks, housing finance companies, small finance banks and NBFC MFIs. Subsidy applies to acquisition, construction or repurchase of houses subject to carpet area limits, permits unmarried earning adults as beneficiaries, and disallows processing fees by PLIs.

Exchange rate reference published; cross-currency rupee rates and SDR rupee basis updated for market guidance and dissemination.
The Reference Rate for the US Dollar was published for March 22, 2017 with the prior day's figure; using that USD reference and middle cross currency quotes, Rupee exchange rates for the Euro, Pound Sterling and Japanese Yen are provided, and the SDR Rupee rate is to be based on the stated reference rate.

Cap on cash transactions introduced via Finance Bill amendments, imposing penalty equal to transaction amount and treated as Money Bill.
Amendment to the Finance Bill caps cash transactions below the previously proposed ceiling and prescribes a penalty equal to the transaction amount for violations; the changes were moved alongside consolidation of tribunals and argued to be incidental fiscal measures to be validly contained in a Money Bill under Article 110(1).

NBFC asset quality risk: short term delinquency rise after cash disruption, capital access and funding stability determine resilience.
NBFCs should maintain broadly stable asset quality though short term delinquencies may rise due to disrupted collections; loans against property growth and loose underwriting heighten asset quality risk. NBFCs have expanded retail market share versus banks, but capital generation may lag credit growth, making access to external capital critical. Funding profiles should remain broadly stable and funding costs may moderate, supporting near term profitability and liquidity.

Reference Rate publication sets exchange rates for major currencies against the rupee and governs SDR conversion.
Reserve Bank of India issues the Reference Rate for the US Dollar and, using that reference and the middle rates of cross currency quotes, publishes derived rupee exchange rates for EUR, GBP and JPY; the announcement further states that the SDR Rupee rate will be based on the published reference rate.

Merger of woman-focused bank expands women's access to banking services through larger network and lower cost.
Merger of Bharatiya Mahila Bank into State Bank of India to expand women's access to formal banking by leveraging SBI's larger branch network, lower cost of funds, and greater lending capacity, thereby accelerating delivery of affordable, women centric credit and products through scale and operational efficiency.

Industrial cooperation MoUs enable expedited implementation and facilitation of cross border industrial parks under joint working group mechanisms.
A bilateral MoU on cooperation for Industrial Parks established an Indian Joint Working Group to define implementation modalities, review progress, and facilitate expedited execution; several state level MoUs between Indian agencies and Chinese investors and financiers have been signed to develop auto, multi purpose and integrated industrial parks, illustrating the pathway for converting bilateral cooperation into on ground industrial infrastructure.

Reference rate for US Dollar sets Rupee exchange benchmarks and determines cross-currency and SDR-Rupee calculations.
Reference rate for the US Dollar published by the central bank establishes the Rupee benchmark and corresponding cross-currency exchange benchmarks for the Euro, British Pound and Japanese Yen, and states that the SDR-Rupee rate will be based on the published reference rate.