Secretarial audit: statutory compliance verification by company secretaries strengthens governance and disclosure for specified companies.
The Companies Act, 2013 imposes board composition and conduct requirements, strengthens audit independence with term limits and non-audit prohibitions, and introduces Secretarial Audit-mandatory for listed and specified companies-requiring practicing company secretaries to verify compliance across applicable laws and secretarial standards and to annex their reports to the Board report. The Act also mandates CSR governance for specified companies, obliging CSR Committees, policy disclosure and a 'comply or explain' approach to CSR expenditure, thereby expanding compliance obligations and elevating the role and capacity requirements of company secretaries.

Reference rate update sets rupee exchange benchmarks for US dollar and euro, guiding derived GBP, JPY and SDR conversions.
Announcement updates the Reference Rate for the US dollar and the euro as official RBI exchange benchmarks, listing current and prior day rates. Using the dollar reference and middle cross currency quotes, it provides derived pound sterling and yen rates against the rupee and states that the SDR Rupee rate will be based on the published reference rate.

T Bill issuance schedule established with flexibility to modify auctions in response to government cash needs and market conditions.
Notification sets a quarterly auction calendar for Treasury Bills with proposed weekly auction dates and aggregate amounts by 91 day, 182 day and 364 day tenors for July-September 2014. The Government, with the Reserve Bank of India, may modify amounts or timing due to cash requirements, market conditions or intervening events, with changes communicated by press release; auctions are governed by the terms of General Notification No. F2(12) W&M/97, as amended.

Reference rate announcement establishes exchange rate benchmarks and derived cross currency rates for operational market use.
Announcement establishes the daily Reference Rate for the US dollar and the Euro, compares current and prior day movements, and explains that derived cross currency rates (e.g., pound sterling and Japanese yen) are calculated from the US dollar reference and middle cross currency quotes; the SDR Rupee rate is to be based on the published reference rate.

Central bank public services continuity ensures RTGS, NEFT and liquidity windows operate after midday for settlement.
Reserve Bank will remain open for public transactions on July 1, 2014 to facilitate settlement despite its annual accounting-year closing. RTGS, NEFT, transfer of funds and securities settlement will be available from 12:00 noon; T+0 settlements and reversal of outstanding LAF/MSF obligations due that day will be effected at 12:00 noon; and the morning LAF window will operate between 12:30 p.m. and 1:30 p.m.

Reference rate framework: central bank publishes currency reference rates and derived cross rates affecting exchange determinations.
The central bank publishes official daily reference rates for the US dollar and the Euro, comparing them with the previous day, and uses the US dollar reference and middle cross currency rates to derive exchange rates for other currencies such as the pound sterling and the yen; the SDR rupee conversion is declared to be based on the published reference rate.

Rupee symbol adoption on banknote denomination updates circulation design; existing notes remain legal tender without change.
Issuance of banknotes in the specified denomination will incorporate the national Rupee symbol with inset letter E, bear the incumbent Governor's signature and the year of printing on the reverse, and otherwise follow the design specifications of the existing series; all previously issued banknotes of the same denomination continue to retain legal tender status.

Reference exchange rate updates reflect shifts in US dollar and euro valuations and adjust cross-currency quotes accordingly.
Reference exchange rates for major currencies are published to provide official rupee valuations. The document reports the Reference Rate for the US dollar and the Reference Rate for the euro on June 25, 2014, notes the immediately preceding day's rates, and, using the US dollar reference and middle cross-currency quotes, provides derived exchange rates for the pound sterling and the Japanese yen. The SDR rupee rate is based on the reference rate.

Cancellation of NBFC registration bars the firm from transacting non-banking financial business under statutory regulatory powers.
The Reserve Bank cancelled M/s Sahiwal Investment and Trading Company's certificate of registration, effective April 15, 2014, and the company cannot transact the business of a non-banking financial institution; the cancellation is exercised under the Reserve Bank's statutory power and the business is defined by the Act.

Reference rate publication establishes exchange benchmarks for USD and Euro and determines derived cross currency and SDR Rupee rates.
The Reserve Bank of India issues daily Reference Rates for the US dollar and the Euro, discloses the previous day's rates for comparison, and uses the US dollar reference rate with cross currency middle rates to derive exchange rates for other currencies; the SDR Rupee conversion is based on the published Reference Rate.

Government securities auction: uniform-price re-issue with competitive and non-competitive bids and when-issued trading eligibility electronic submission timings.
Announcement of re-issue auctions of Government stocks by uniform price auction conducted electronically on the RBI E-Kuber system accepting competitive and non-competitive bids, with non-competitive bids subject to up to 5% allocation under the Scheme for Non-Competitive Bidding Facility; specified bid submission windows, auction result announcement, payment timing, and eligibility of the stocks for when-issued trading under RBI guidelines.

Reference rate update sets rupee exchange benchmarks and prescribes derivation of other currency rates from the dollar reference.
The Reserve Bank of India published Reference Rate determinations specifying the rupee benchmark rates for the US dollar and the euro, noted prior-day comparisons, and stated that rupee rates for other currencies are derived from the dollar reference and cross-currency middle rates; the SDR Rupee rate will be based on the published reference rate.

Growth strategies need stronger investment and infrastructure policies to unlock growth and improve assessment focus on outcomes.
Emphasizes that members' draft growth strategies are insufficient to meet the collective GDP ambition and that investment, particularly infrastructure, requires new policy actions and enhanced MDB and developed country intermediation of global capital flows; it outlines the Framework Working Group's peer review process, coordination with the Employment Task Force, expectations for revised submissions, and a call to reassess International Organizations' evaluation focus from prescribed thematic reforms toward adequacy of measures and actual growth output.

Reference Rate publication: central bank released US dollar and euro reference rates and derived cross currency exchange rates.
The central bank published the Reference Rate for the US dollar and the Euro for the reporting date, noted prior day comparators, provided derived rupee exchange rates for pound sterling and Japanese yen using cross currency middle rates, and stated that the SDR Rupee rate will be based on the published reference rate.

Issuance of long term secured debentures allowed for infrastructure finance and ID NBFCs, plus DRR relaxations for housing finance.
Permission allows Infrastructure Finance Companies and ID NBFCs to issue secured debentures up to thirty years; Rules have been amended and notified. Housing Finance Companies receive relaxed Debenture Redemption Reserve requirements aligned with RBI registered NBFC treatment. Independent valuation reports for preferential allotments may be prepared by a SEBI registered independent Merchant Banker or an independent practising Chartered Accountant with minimum ten years' experience.

Bank licence cancellation bars a cooperative bank from carrying on banking business, triggering DICGC insurance repayment.
Reserve Bank cancelled the licence of Shri Shivaji Sahakari Bank Ltd., effective from June 14, 2014, because the bank ceased to be solvent, revival efforts failed and depositors faced uncertainty. The cancellation withdraws authority to carry on banking business and triggers winding up and liquidation, enabling depositors to claim insured amounts under the Deposit Insurance scheme, subject to its terms and conditions.

Reference rate for foreign currencies set by central bank; cross-currency rates for pound and yen also published.
The central bank published the Reference Rate for the US dollar and the euro, provided the previous day's comparative rates, and gave rupee exchange rates for pound sterling and Japanese yen derived from the dollar reference and middle cross-currency quotes. It further states that the SDR rupee conversion will be based on the published Reference Rate.

Reference Rate publication: RBI's daily exchange rate benchmarks for major currencies and SDR conversion basis.
The Reserve Bank of India publishes daily Reference Rates for major currencies, providing the US dollar and euro benchmark rates for the stated date, comparing them with the prior business day, and deriving GBP and JPY exchange rates from cross currency middle rates. The release specifies that the SDR Rupee conversion rate will be based on the published Reference Rate, and functions as the operative public benchmark until updated by a subsequent RBI notice.

Shift of foreign exchange divisions moves three FED units to New Delhi regional office; stakeholders should use new contact.
Reserve Bank of India announced relocation of three Foreign Investment Division units-Liaison/Branch/Project Office Division, Non Resident Foreign Account Division, and Immovable Property Division-to the New Delhi Regional Office effective July 15, 2014. The new FED, CO Cell is located at 6 Parliament Street, New Delhi, will be headed by Shri P. Shimrah, General Manager, and stakeholders are to use the New Delhi office as the operative contact point while the divisions remain part of the Foreign Exchange Department, Central Office, Mumbai.

Banking licence cancellation: bank precluded from transacting banking business and accepting deposits under BR Act.
The Reserve Bank of India cancelled the licence of Shri Shivaji Sahakari Bank Ltd under Section 22 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) read with Section 56 by order dated June 12, 2014, thereby precluding the bank forthwith from transacting the business of banking as defined in Section 5(b), including acceptance and repayment of deposits.