Reference exchange rate published: central bank sets US dollar benchmark and derives euro, pound and yen rupee rates.
The Reserve Bank of India published the reference rate for the US dollar for September 30, 2014 and the previous day's corresponding rate, and stated that EUR, GBP and JPY rupee exchange rates are derived from that US dollar reference using the middle rates of cross currency quotes; the release lists the specific rupee rates for those currencies for September 29 and September 30, 2014.

Economic growth projection signals confidence as government cites stronger investment uptick and improved external inflows
Finance Secretary expresses confidence in achieving mid-single-digit growth for the fiscal year, citing stronger first-half indicators-quarterly GDP performance, lower inflation, improved external balance-and an investment uptick; he stresses infrastructure-led growth, steps to distress and expedite stalled projects, regulatory measures widening investment vehicles and sectoral FDI access, improved capital inflows and a lower current account deficit, a fiscal deficit target supported by an expenditure management commission, and reforms to improve state-level clearances, GST rollout, skill development, industrial corridors and land acquisition rules.

Reference Rate for US dollar set, affecting cross currency exchange rates and SDR Rupee calculation.
Reserve Bank of India published the Reference Rate for the US dollar, compared it with the previous reporting date, and-using that reference rate together with middle cross currency quotes-supplied rupee exchange rates for the euro, pound sterling and the yen; the notice further states that the SDR Rupee rate will be based on the published reference rate, making that rate the operative benchmark for related conversions and reporting.

Licence cancellation bars the bank from banking business and triggers insured deposit repayment under DICGC terms.
RBI cancelled the bank's licence effective September 11, 2014 because insolvency, sustained losses, severe erosion of capital and deposits, and very high NPAs demonstrated lack of viability; the Registrar of Co-operative Societies was requested to wind up and appoint a liquidator, the bank is prohibited from carrying on banking business, and insured deposit repayment will proceed under the DICGC scheme subject to its terms.

Reference rate publication anchors exchange calculations for other currencies and determines the SDR Rupee conversion on the reported date.
Publication of a reference rate for the US Dollar establishes the official benchmark used to compute cross currency middle rates and the resultant Rupee quotations for the euro, pound sterling and Japanese yen; the notice compares the current USD reference with the prior day and states that the SDR Rupee rate will be based on that reference rate.

Reference exchange rate published by central bank sets benchmark and determines cross-currency and SDR rupee rates.
Reserve Bank of India publishes the reference rate for the US dollar as the daily benchmark and, using that USD reference and middle cross-currency quotes, derives and publishes exchange rates for EUR, GBP and JPY against the rupee; the SDR Rupee rate is stated to be based on the published reference rate.

Reference Rate for US Dollar published, with derived rupee exchange rates for euro, pound and yen.
The Reserve Bank released the Reference Rate for the US Dollar and the prior day's figure as the official rupee benchmark. Using that reference rate and middle cross currency quotes, the Bank published derived rupee exchange rates for the euro, pound sterling and yen, and stated that the SDR Rupee rate will be based on the published reference rate.

Reference rate for US Dollar published; derived euro, pound and yen exchange rates and SDR rupee linkage announced.
The Reserve Bank of India published the Reference Rate for the US Dollar for September 23, 2014, with the previous day's figure; using that Reference Rate and cross currency middle rates it disclosed exchange rates for euro, pound sterling and Japanese yen against the rupee, and stated the SDR Rupee rate will be based on the Reference Rate.

Government securities auction re-issues offered via multiple-price method with non competitive allotment and e submission deadlines and when issued trading eligibility.
Re-issue auctions for four government stocks will be conducted by the central bank using the multiple price method with specified notified amounts; up to 5% of each issue is reserved for eligible non competitive bidders. Competitive and non competitive bids must be submitted electronically via the central bank's Core Banking Solution (E Kuber) within prescribed time windows on the auction date. Results and payment follow on designated settlement dates, and the stocks qualify for when issued trading under the central bank's guidelines.

Reference rate for US Dollar published; cross currency rupee rates and SDR rupee linkage set from that benchmark.
The Reserve Bank of India publishes a daily reference rate for the US Dollar which serves as the benchmark for deriving rupee exchange rates of other currencies using cross currency middle rates; the press release supplies comparable prior day figures. It also states that the SDR Rupee rate will be based on this reference rate, establishing a procedural linkage for SDR denominated rupee valuation.

Reference rate for US Dollar set by RBI, adjusting EUR, GBP and JPY exchange conversions and informing SDR Rupee calculation.
The Reserve Bank announced the US dollar reference rate for September 19, 2014, provided the prior day's figure for comparison, and published derived exchange rates for EUR, GBP and JPY against the rupee based on the US dollar reference and middle cross currency rates; the SDR Rupee rate is to be based on this reference rate.

Swap lines as a G20 confidence tool could reduce emerging market currency volatility and support global growth.
The intervention identifies external uncertainty from withdrawal of unconventional monetary policy as a source of emerging market asset and currency pressure that can derail growth, notes limits of macroprudential policy during downturns, and urges G20 driven collaborative solutions. It proposes that the IMF carry out scenario analysis comparing GDP loss with and without swap lines and assess swap costs relative to benefits, emphasising swaps as a confidence building facility that could reduce self insurance needs and mitigate negative shocks to emerging market and global GDP.

Reference rate for US dollar updated; cross-currency middle rates set euro, pound and yen exchange rates against rupee.
The Reserve Bank of India published an updated reference rate for the US dollar and provided corresponding cross-currency exchange rates for euro, pound sterling and yen based on middle rates of cross-currency quotes, and stated that the SDR Rupee rate will be derived from the US dollar reference rate.

Business milestone: Bank celebrates foundation day, unveils customer security upgrades and community donation.
Bank of Maharashtra marked its eightieth foundation anniversary with customer engagement events, reported surpassing a major business milestone, and donated to a nonprofit serving children with developmental challenges. At customer meetings the Bank promoted operational and security enhancements-two factor authentication for internet banking, EMV debit cards-and new retail offerings, framing these measures as means to strengthen transactional security, expand product choice, and reinforce customer confidence.

Reference rate for US Dollar updates rupee cross currency rates and sets the SDR rupee basis for market use.
The Reserve Bank of India publishes a daily reference rate for the US Dollar which, together with middle rates of cross currency quotes, is used to calculate and publish exchange rates of other currencies against the Rupee; the SDR Rupee rate is likewise based on the published reference rate.

PMJDY account benefits expanded to existing accounts, adding RuPay debit cards, insurance cover and overdraft access.
Extension of PMJDY facilities permits existing account holders, on application, to receive RuPay debit cards with embedded accident insurance and access an overdraft after satisfactory account operations, with banks instructed to offer the overdraft to only one household member, preferably a woman. PMJDY implements universal banking access via mapped Sub Service Areas and fixed outlets through branches or Business Correspondents.

Reference rate for US Dollar published - determines exchange rates for EUR, GBP, JPY and SDR Rupee linkage.
The Reserve Bank published the Reference Rate for the US Dollar and, using that rate with middle cross currency quotes, provided exchange rates for the Euro, Pound Sterling and Japanese Yen against the Rupee; the SDR Rupee rate will be based on the Reference Rate.

Trade balance narrows as merchandise exports rise modestly and services generate a surplus, altering external sector dynamics.
India's merchandise exports in August 2014 rose modestly in dollar terms while rupee value exports declined for the month; cumulative April-August 2014-15 exports grew year on year in both dollar and rupee terms. Imports in August 2014 increased slightly in dollar terms but fell in rupee terms, and cumulative imports for April-August 2014-15 fell in dollar terms and rose marginally in rupee terms. Oil imports fell in August year on year though cumulative oil imports were slightly higher; non oil imports rose in August but fell cumulatively. The merchandise trade deficit narrowed year on year for April-August, and provisional services data for July 2014 show a services surplus.

Government securities auction: price-based multiple-price sale with non-competitive allocation via electronic bidding and scheduled settlement.
Sale (re-issue) of four specified Government stocks will be conducted by the Reserve Bank of India through a price-based auction using the Multiple price method; bids must be submitted electronically on E-Kuber within prescribed non-competitive and competitive time windows, up to five percent of each issue is reserved under the Non-Competitive Bidding Facility, auction results will be announced on the auction date and payment by successful bidders is scheduled on the stated settlement date, and the Stocks are eligible for When Issued trading under RBI guidelines.

Securities repurchase through reverse auction: government to prematurely redeem specified stocks via price-based multiple bids.
Government announces repurchase of specified government stocks by reverse auction to prematurely redeem securities using surplus cash; the exercise is ad hoc. Auctions will follow a price-based, multiple price method. Bids must be submitted electronically via the centralised core banking bidding system on the announced auction date within the published tender window, and results will be declared the same day.