Corporate debt restructuring mechanism streamlines multi-lender restructuring and establishes a three-tier institutional framework for speedy case disposal.
Corporate Debt Restructuring (CDR) provides an institutional mechanism to expedite restructuring proposals for borrowers financed by multiple banks/FIs; eligibility requires multi lender facilities and a specified exposure threshold. The CDR operates through a three tier institutional framework-the Standing Forum with its Core Group, the Empowered Group and the CDR Cell housed in IDBI-which manages intake, consideration and disposal. The CDR Cell reports periodic caseflow metrics (references received, pre admission rejections, matters under Empowered Group consideration and total approvals) with aggregate debt figures, as reflected in progress reports for March 2010-December 2015.

Ind AS adoption roadmap: phased compliance for banks, insurers and NBFCs based on net worth and listing status.
Road map for implementation of Indian Accounting Standards (Ind AS) sets phased adoption dates for Banks, Insurers and NBFCs based on entity type, net worth and listing status; holding, subsidiary, joint venture and associate companies of specified NBFC groups adopt from the later effective period. The Standards are converged with IFRS with limited carve outs for country specific requirements.

Reference rate for dollar published; derived euro, pound and yen exchange rates and SDR Rupee linkage follow.
The publication announces the Reference Rate for the US Dollar and the prior day's rate, and states that rupee exchange rates for the Euro, Pound and Yen are computed from that Reference Rate using middle cross currency rates; the SDR-Rupee rate is to be based on the published Reference Rate.

MSME revival framework mandates early warning classification and committee review to promptly resolve stressed accounts.
The Framework for Revival and Rehabilitation of MSMEs establishes early-warning identification via a three-tier Special Mention Account classification, mandates branch-level corrective action plans for smaller stressed accounts and referral of larger stressed accounts to a regional/zonal committee, and requires banks to adopt board-approved policies governing committee composition and procedures to operationalise the framework.

Reference exchange rate updated for US dollar, with derived euro, pound and yen rates and SDR linkage.
Reference exchange rate for the US dollar was published as Rs. 66.4045 for April 28, 2016, with the previous day's rate at Rs. 66.5460; these reference figures are used to derive rupee rates for the euro, pound and Japanese yen. The announcement specifies that the SDR Rupee rate will be based on the published reference rate, creating the operative basis for cross currency and SDR conversions.

Reference rate update for US dollar affects cross currency exchange rates and determines SDR Rupee conversion basis.
The Reserve Bank of India set an updated reference rate for the US dollar and, using that reference with middle cross currency quotations, provided rupee exchange rates for the euro, pound sterling and Japanese yen; it also stated that the SDR Rupee rate will be based on the reference rate.

Consolidation of public sector banks to achieve scale, risk diversification and enhanced credit capacity while protecting stakeholders.
Consolidation among public sector banks is recommended to secure economies of scale, risk diversification and capacity to finance large credit demands, utilising voluntary mergers under Section 44A and supervisory amalgamation under Section 45 of the Banking Regulation Act; consolidation should be board-led, stakeholder-protected and competition-assessed, with attention to regulatory capital requirements, implementation challenges and alternative consolidation via business specialisation.

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

Government securities auction uses price-based multiple method; includes non-competitive facility and electronic bidding with reservation.
Sale (re-issue) of multiple Central Government stocks will be conducted by the central bank in Mumbai via price based auctions using the multiple price method on the scheduled auction date. Both competitive and non competitive bids must be submitted electronically on the central bank's Core Banking Solution (E Kuber) within prescribed submission windows. Up to five percent of each notified amount is reserved under the Non-Competitive Bidding Facility for eligible individuals and institutions, and the re issued stocks are eligible for "When Issued" trading under existing guidelines.

Reference rate for US dollar updated; exchange rates for euro, pound and yen and SDR rupee linkage follow.
The Reserve Bank of India published an updated Reference Rate for the US dollar and, using that reference with middle cross currency rates, provided exchange rates for the euro, pound sterling and Japanese yen against the rupee, and stated that the SDR Rupee rate will be based on the published reference rate.

Reference rate for US Dollar updated, affecting exchange conversion rates for euro, pound and yen against rupee.
The Reserve Bank of India publishes a Reference Rate for the US Dollar as the benchmark for rupee conversions and compares it with the prior day, and, using that USD reference together with middle cross currency quotes, furnishes derived exchange rates for the euro, British pound and Japanese yen; the SDR rupee rate is stated to be based on this reference rate.

Reference rate for US dollar updated, prompting adjusted euro, pound and yen rupee exchange rates tied to that benchmark.
Publication of a Reference Rate for the US dollar establishes the official rupee benchmark for the date and records its change from the prior day; using the middle rates of cross currency quotes, the notice supplies the corresponding rupee exchange rates for the euro, British pound and Japanese yen, and states that the SDR Rupee rate will be based on the published reference rate.

Cancellation of NBFC registration bars specified companies from transacting non-banking financial business under RBI authority.
The Reserve Bank of India cancelled the certificates of registration of three NBFCs under Section 45-IA(6) of the Reserve Bank of India Act, 1934, thereby revoking their authorization to operate as non-banking financial companies; as a result, the entities are prohibited from transacting NBFC business under clause (a) of Section 45-I of the Act.

Reference rate for US dollar set, with exchange rates for major currencies and SDR rupee conversion tied to it.
The Reserve Bank of India published an official reference rate for the US dollar and provided corresponding rupee rates for the euro, pound sterling and the yen derived from middle cross currency quotations, and specified that the SDR rupee rate will be based on that published reference rate.

Government securities auction offers re-issues via multiple-price method with non-competitive facility and electronic bidding eligible for when-issued trading
The Government announced re-issues of four Government Stocks via price-based auctions conducted by the RBI using the multiple price method, with specified notified amounts and an allocation of up to 5% to eligible bidders 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 the payment schedule follow the auction. The re-issued Stocks are eligible for When Issued trading under existing RBI guidelines.

Reference Rate determines rupee cross currency exchange rates and underpins the SDR rupee valuation.
Reserve Bank of India published the Reference Rate for the US dollar for April 18, 2016, provided preceding-day comparators, and - using middle cross currency quotes - supplied derived rupee exchange rates for the euro, pound sterling and the yen; the press release states the SDR Rupee rate will be based on the announced reference rate.

IMF resource access to be increased to strengthen global financial stability and minimize cross border spillovers.
Calls for increased IMF resource access to enable the Fund to foster global economic and financial stability while managing policy adjustments to minimize negative cross border spillovers. The Finance Minister also urged the World Bank Group to expand lending capacity through timely capital increases, linked to achieving Sustainable Development Goals, reconstruction needs, and to incorporate stakeholder feedback into the Environmental and Social Framework.

Totalization agreement push: India urges early US deal and protests discriminatory H 1B and L 1 fee hike targeting IT firms.
India urged early conclusion of a Totalization Agreement with the United States to address reclaiming Social Security contributions and objected to an increase in H 1B and L 1 visa fees characterized as discriminatory and effectively targeted at Indian IT companies, presenting these priorities within the context of strengthening bilateral trade and investment engagement.

Reference rate announcement: central bank publishes US dollar reference and derived exchange rates, guiding SDR rupee valuation.
The central bank published its daily Reference Rate for the US dollar and, using cross currency middle rates, provided corresponding rupee exchange rates for the euro, pound sterling and yen; it also states that the SDR Rupee rate will be based on the published reference rate.

Delegation of approval for foreign branch establishment to authorised dealer banks streamlines BO/LO/PO setup and bank account opening.
Approval authority for establishment of foreign Branch Offices, Liaison Offices and Project Offices in India has been delegated to authorised dealer banks except in specified sensitive sectors and for certain countries, while entities awarded contracts by government authorities or public sector undertakings receive automatic approval to open bank accounts; foreign entities may establish BO/LO/PO without registering as domestic companies or trusts.