Reference rate publication: RBI issued updated foreign exchange reference rates affecting USD, Euro and derived GBP and JPY quotes.
Reserve Bank of India published updated foreign exchange reference rates for the US dollar and the Euro, compared with the preceding day, provided derived cross currency quotations for the British pound and the Japanese yen based on the US dollar reference and middle cross currency rates, and confirmed that the SDR Rupee conversion will be based on the announced reference rate.

Special repo window enables banks to meet mutual funds' liquidity needs through a temporary central bank facility.
A special repo window has been instituted to enable banks to meet the liquidity requirements of mutual funds through a short-term repo operation at a stated interest rate for a notified amount, with operational details to be announced separately; the facility is temporary and available until further notice.

Reference Rate sets rupee exchange benchmarks and enables cross currency derivation and SDR Rupee conversion.
The Reserve Bank of India published official Reference Rates for the rupee against the US dollar and the euro on July 16, 2013, compared with the previous day's rates, and derived GBP and JPY rupee rates from the US dollar reference using middle cross currency quotes; the SDR Rupee rate is to be based on the published reference rate.

MSF rate recalibration and liquidity limits imposed to stabilize exchange rate, including scheduled government securities sales.
The Marginal Standing Facility rate is recalibrated to be 300 basis points above the policy repo rate and the Bank Rate is adjusted accordingly. The Liquidity Adjustment Facility allocation is capped at 1.0% of Net Demand and Time Liabilities with proportional allocation to banks subject to the overall ceiling, effective July 17, 2013. The Reserve Bank will conduct Open Market Sales of Government securities on July 18, 2013 and will continue to monitor markets and liquidity for further measures.

Government securities auction using uniform price method with reserved non-competitive allocation and when-issued trading eligibility.
Government securities will be re-issued by price-based auction conducted by the central bank using the uniform price method, with electronic submission of competitive and non-competitive bids on the central bank's core banking system, a reserved allocation under the Non-Competitive Bidding Facility, specified bid submission windows, a set payment/settlement date for successful bidders, and eligibility of the stocks for When Issued trading under existing central bank guidelines.

Currency internationalisation: deepen markets and harmonise regional infrastructure to expand international use of Asian currencies.
Internationalisation of Asian currencies requires market liberalisation, deep onshore financial markets with liquid instruments and complementary offshore markets; China has advanced RMB internationalisation through trade invoicing in RMB, bilateral swap lines and offshore market development, while India follows a calibrated approach to capital-account liberalisation, market-determined pricing and infrastructure improvements due to current-account vulnerabilities.

Reference Rate published: central bank updated exchange rate benchmarks leading to revised cross-currency rupee quotes.
The central bank published daily Reference Rates for major currencies, giving updated rupee benchmarks for the US dollar and euro and noting the previous day's levels; it computed corresponding rupee rates for pound sterling and yen from the dollar reference and cross currency midrates, and stated the SDR Rupee rate will be based on the published reference rate.

Banking compliance certification launched jointly to train institute members through an online exam followed by classroom instruction.
The Institute of Company Secretaries of India and the Indian Institute of Banking and Finance are offering a jointly awarded Certified Banking Compliance Professional Course for their members, designed to develop banking compliance personnel. The program requires candidates to pass an initial online examination and then attend classroom instruction; eligibility is limited to members of the two institutes and the certificate is jointly issued by the sponsoring bodies.

Reference exchange rate publication: daily dollar and euro rates set benchmark for cross currency conversions and SDR rupee rate.
Reserve Bank of India issues daily reference exchange rates for major currencies, listing the US dollar and euro rates for the stated date and the previous day for comparison. Pound sterling and Japanese yen rates are derived from the US dollar reference by applying middle cross currency quotations. The SDR rupee rate is to be based on the published reference rate, indicating the reference rate's use as the benchmark for related conversions.

Reference rate announcement sets official exchange rates and cross-currency references for currency conversion and SDR valuation.
The Reserve Bank of India issued the daily Reference Rate specifying rupee exchange rates for the US dollar and the euro on July 10, 2013, with corresponding prior day figures. Based on the US dollar reference rate and cross currency middle rates, the announcement provides derived rates for the British pound and Japanese yen, and states that the SDR rupee rate will be based on the published reference rate.

Reference rate publication sets official exchange benchmarks and directs derived cross-currency and SDR-Rupee computation for markets.
The Reserve Bank publishes official Reference Rates for the US dollar and the Euro as central exchange benchmarks, provides prior-day comparisons, and derives other currency rates (e.g., GBP, JPY) from the US dollar reference using middle cross-currency quotations; the SDR Rupee rate is declared to be based on the Reference Rate and the information is issued by the Bank in an official press release.

Reference rate publication: RBI released exchange reference rates for major currencies, with derived cross-currency rates and SDR basis.
The Reserve Bank published the Reference Rate for the US dollar and the Euro on July 8, 2013, compared these with the prior business day, and, using the US dollar Reference Rate and middle cross currency quotes, supplied derived exchange rates for the pound sterling and the yen; the SDR Rupee rate is to be based on the published Reference Rate.

Credit information sharing can improve underwriting and inclusion if data accuracy, identifiers and multi bureau access are ensured.
CICs must expand comprehensive reporting and value added analytics to support underwriting, monitoring, benchmarking and regulatory oversight. To be effective they must overcome challenges of inaccurate, incomplete and untimely data, limited reporting by smaller lenders, absence of universal identifiers and weak consumer grievance mechanisms. CICs should promote data quality diagnostics, multi bureau decisioning, identity reconciliation and fraud prevention analytics, and incorporate alternate payment data to score currently unscoreable borrowers, thereby improving financial inclusion and credit flow to retail, SME and other underserved segments.

Reference exchange rates updated for major currencies, informing cross currency derivations and SDR rupee computation.
Reserve Bank of India published daily reference rates for the US dollar and the euro, compared them with the prior day, and stated that the US dollar reference rate together with cross currency middle rates is used to derive exchange rates for other currencies. The release provides derived rupee rates for the pound sterling and the Japanese yen and specifies that the SDR rupee rate will be based on the published reference rate.

Regulatory coordination: public complaints can be lodged with any regulator, prompting joint resolution and complaint redressal.
The Board urged banks in Tamil Nadu to speed up branch opening and improve the ratio of physical branches, directed training of Business Correspondents in ten districts to enhance banking activity, and endorsed a joint study with District Industries Centre officers and the Reserve Bank on collateral practices for loans below Rs. 10 lakh. Bankers were asked to support agricultural insurance roll out in six districts. The Governor stressed public awareness of fraudulent money collection schemes, police sensitisation, fast tracking disposal of seized assets for repayment, and announced that the public may complain to any regulator with inter regulatory coordination to resolve complaints.

Reference Rate publication: RBI released US dollar and euro reference rates with derived cross currency exchange rates.
The Reserve Bank published the Reference Rate for the US dollar and the euro, compared them with the previous day's rates, and stated that the SDR-rupee rate will be based on that reference rate; it also provided pound sterling and yen exchange rates derived from the US dollar reference and middle cross currency quotations.

Reference exchange rate announcement sets rupee benchmarks and provides cross currency derived rates for market reference.
The Reserve Bank of India publishes rupee reference rates for the US dollar and the euro, provides the prior day's corresponding rates to show movement, and, using the dollar reference rate with cross currency middle rates, supplies derived rupee exchange rates for other currencies; the SDR Rupee rate is stated to be based on the published reference rate.

Capital and provisioning requirements for unhedged foreign currency exposures: draft guidelines open for stakeholder comments.
Draft guidelines address capital and provisioning requirements for banks' exposures to corporates with unhedged foreign currency exposure, requiring banks to assess and hold additional capital and make provisioning for credit exposures arising from corporates' unhedged currency positions. The Reserve Bank of India published the draft for public consultation and invited stakeholder feedback by a specified deadline, directing submissions to the Principal Chief General Manager, Department of Banking Operations and Development, by post or e-mail.

Reference rate determination for major currencies establishes conversion basis and cross currency derivation for rupee exchange rates.
The Reserve Bank publishes rupee reference rates for specified foreign currencies as the operative benchmarks for conversion and market reference. The announced dollar and euro reference rates serve as the authoritative basis for rupee valuations and for deriving additional currency rates: other exchange rates (such as pound sterling and yen) are calculated from the dollar reference rate using the middle rates of cross currency quotes. The release also provides that the SDR Rupee rate will be based on the published reference rate.

Bank licensing transparency: names of private sector applicants disclosed after the application deadline to ensure openness in the licensing process.
The Reserve Bank of India disclosed the names of 26 applicants for new private sector bank licences on its website after the application window closed, pursuant to the Guidelines for Licensing of New Banks in the Private Sector; the release states that receipt of applications closed at 17:45 on the final day and the disclosure promotes transparency.