Reference rate for US dollar updated, affecting rupee cross-currency rates and SDR rupee conversion; market participants notified.
The Reserve Bank of India published an updated reference rate for the US dollar with the prior day's comparison, and provided rupee exchange rates for the euro, pound sterling and yen derived from the US dollar reference rate and middle cross currency quotes; the SDR Rupee rate will be based on that reference rate.

Reference rate for US dollar updated; cross-currency Rupee rates and SDR Rupee linkage announced.
The Reserve Bank of India published the rupee reference rate for the US dollar and the prior day comparator, and-using that dollar benchmark with middle cross currency quotes-provided corresponding rupee rates for the Euro, British Pound and Japanese Yen; the notice further specifies that the SDR Rupee rate will be based on the published reference rate.

Reference rate publication establishes rupee exchange benchmarks for major currencies and fixes the SDR rupee conversion basis.
Publication of the Reference Rate establishes RBI's official Rupee benchmark for the US Dollar and the derived mid market cross rates for the Euro, Pound Sterling and Japanese Yen; it also specifies that the SDR Rupee rate will be calculated on the basis of the published reference rate.

Reference rate for US dollar updated; determines cross currency rupee rates and the SDR rupee conversion.
The publication of the Reference Rate for the US dollar establishes the benchmark rupee exchange rate and, by applying middle cross currency quotes, sets rupee rates for euro, pound sterling and yen; the SDR Rupee conversion rate is to be derived from the published reference rate.

Government securities auction: price-based re-issue with multiple price method, competitive and non-competitive electronic bidding.
Sale (re-issue) of specified Government of India securities will be conducted by the Reserve Bank of India through price-based auctions using the multiple price method. Competitive and non-competitive bids must be submitted electronically on the E-Kuber system within prescribed submission windows. Up to five percent of each notified issue is reserved under the Non-Competitive Bidding Facility for eligible individuals and institutions. Auction results, payment, settlement dates, and eligibility for When Issued trading follow RBI guidelines.

Reference rate for US dollar published; cross-currency rupee rates for euro, pound and yen updated accordingly.
The central bank published a reference rate for the US dollar and compared it with the prior day to establish a benchmark. Derived exchange rates for the euro, pound sterling and yen against the domestic currency are provided based on the dollar reference and middle cross currency rates. The announcement states that the SDR Rupee rate will be based on this reference rate, supplying an official market communication for valuation and conversion purposes.

Reference rate publication establishes exchange rates for major currencies and specifies SDR rupee linkage to the reference rate.
The Reserve Bank published the Reference Rate for the US dollar as Rs. 64.4950 for June 22, 2017, with the prior day's reference rate at Rs. 64.6025; using that dollar reference and middle cross currency rates the Bank reported rupee exchange rates for euro, pound sterling and Japanese yen for June 21 and June 22, 2017, and stated that the SDR rupee rate will be based on the reference rate.

Reference rate publication: daily US Dollar fixing used to derive euro, pound and yen rupee exchange benchmarks.
The Reserve Bank of India published a daily Reference Rate for the US Dollar and, using that reference and middle cross currency rates, supplied exchange rates for the euro, pound sterling and Japanese yen against the rupee; it also stated the SDR Rupee rate will be based on the reference rate.

Farm loan waiver not being considered; centre requires states to bear costs and adhere to FRBM fiscal targets.
Centre will not implement a national farm loan waiver, citing the FRBM Act and binding fiscal deficit targets; it will not share fiscal costs of state-level waivers. States must bear waiver costs, while the central bank has warned that widespread state spending on waivers could destabilise public finances and raise inflationary expectations, affecting monetary policy decisions.

US Dollar Reference Rate published by monetary authority, with derived euro, pound and yen parities and SDR Rupee linkage stated.
Published Reference Rate for the US Dollar serves as the official rupee benchmark and, together with middle cross currency quotes, was used to compute exchange rates for the euro, pound sterling and yen; the SDR Rupee rate is to be based on that Reference Rate.

Government securities auction using price-based multiple-price method; non-competitive bids and When Issued trading permitted under RBI rules.
Re-issue auctions of multiple central government stocks will be conducted by the Reserve Bank of India using a price based auction under the multiple price method; both competitive and non-competitive electronic bids must be submitted on the E-Kuber system within specified windows, up to a capped portion of each issue is reserved under the Non-Competitive Bidding Facility, results and payment follow on the stated dates, and the stocks are eligible for When Issued trading under existing RBI guidelines.

Reference rate for US dollar updated; exchange rates for euro, pound and yen adjusted accordingly.
Reserve Bank published the reference rate for the US dollar, compared it with the prior reference rate, and-using the US dollar reference rate plus middle cross currency quotes-provided corresponding Rupee exchange rates for the euro, pound sterling and yen; the SDR Rupee rate is to be based on the published reference rate.

Access to finance: prioritise MSME lending and digital, alternative finance to expand credit availability and market access.
Banks should prioritise MSME lending by building organisational empathy, tailored credit facilities and oversight; support viable distressed units through a time bound Revival and Rehabilitation Framework; expand outreach via cluster focused branches and partnerships with non bank lenders; and leverage digital platforms and alternative finance to improve credit access and market reach for MSMEs.

Reference rate for the US dollar set by central bank; cross-currency middle rates determine currency exchange rates and SDR Rupee linkage.
Reference rate for the US dollar published by the central bank establishes the rupee valuation; using that reference rate and cross currency middle rates the rupee exchange rates for euro, pound sterling and yen are derived, and the SDR Rupee rate is declared to be based on the published reference rate.

Reference Rate for US Dollar establishes daily rupee exchange benchmarks for major currencies and SDR conversion.
Reserve Bank of India publishes a daily reference rate for the US dollar as the official rupee benchmark and, using that reference and middle rates of cross currency quotes, provides calculated rupee exchange rates for the euro, pound sterling and yen; the Special Drawing Rights-Rupee rate is to be derived from the RBI reference rate.

Interest subvention reduces farmers' effective interest on short term crop loans, with prompt repayment securing the maximum subsidy.
The Central Government approved an Interest Subvention Scheme for 2017-18 to reduce effective interest on eligible short term crop loans through central subvention-full subvention for prompt repayment and reduced subvention for delayed repayment-delivered to Public, Private and Cooperative banks and RRBs with refinancing via NABARD; the scheme also extends targeted concessional subvention for accredited post harvest storage loans to small and marginal farmers and provides 1st year subvention on restructured loans following natural calamities.

Reference rate for US dollar updated; cross-currency exchange rates for euro, pound and yen provided, SDR-Rupee basis noted.
The Reserve Bank of India published the Reference Rate for the US dollar with the previous-day comparison, and, using that reference and cross-currency middle rates, provided rupee exchange rates for the euro, pound sterling and Japanese yen; it further states the SDR Rupee rate will be based on the reference rate.

Banknote issuance: new series notes released with updated design, identifying marks and enhanced security while retaining legal tender status.
Reserve Bank will issue a new batch of five-hundred-rupee banknotes in the Mahatma Gandhi (new) series printed in 2017, bearing an inset letter 'A', the Governor's signature and the year of printing; these notes carry legal tender status, mirror the existing series' design and incorporate a stone-grey colour, Red Fort depiction, cleanliness message, smaller dimensions and enhanced security features.

Low retail inflation supports case for monetary easing, while slowing industrial output complicates rate-cut prospects.
Retail inflation dropped to a record low in May driven by food deflation in vegetables and pulses, reinforcing arguments for central bank monetary easing while creating adverse consequences for farm incomes. Simultaneously, industrial growth slowed in April with manufacturing, capital goods and consumer durables underperforming, attributed partly to lagged effects of demonetisation and accompanied by upward revisions to prior IIP estimates by the statistical agency.

Reference rate for US Dollar updated; derived exchange rates for euro, pound and yen against rupee and SDR link.
The Reserve Bank of India announced an updated reference rate for the US Dollar and published derived exchange rates for the euro, pound sterling and yen against the rupee based on cross currency middle rates; the release compares the current and prior reference rates and states that the SDR Rupee rate will be based on the RBI reference rate.