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.

Reference Rate for US Dollar anchors rupee exchange rates for other currencies and determines the SDR Rupee rate.
The Reserve Bank of India issues a daily Reference Rate for the US Dollar that serves as the benchmark for deriving rupee exchange rates for other currencies; using the USD reference rate and middle cross currency quotes, the RBI publishes exchange rates for the euro, pound sterling and Japanese yen, and states that the SDR Rupee rate will be based on that reference rate.

Government securities auction: re-issue via multiple-price, price-based bidding with non-competitive facility and electronic bidding.
Re-issue of multiple Central Government dated securities is announced via price-based auctions using the multiple price method, conducted by the Reserve Bank of India on a specified auction date. Bids must be submitted electronically on the RBI E-Kuber system with separate submission windows for non-competitive and competitive bids; up to a limited portion of notified amounts is reserved for eligible parties under the Non-Competitive Bidding Facility. Successful bidders must remit payment by the prescribed settlement date and the stocks are eligible for When Issued trading under RBI guidelines.

Reference rate publication sets the official exchange benchmarks and ties the SDR Rupee conversion to that benchmark.
Publication of the reference rate for the US Dollar and derived cross-currency middle rates establishes RBI's official exchange benchmarks; the euro, pound sterling and Japanese yen rates are provided on that basis, and the SDR Rupee rate is to be determined from the published reference rate.

MSME credit facilitation expanded through targeted bank measures, digital portals, trained counsellors and movable asset registry to improve access.
To strengthen MSME credit delivery, regulators and banks are advancing institutional and infrastructural measures: licensing Small Finance Banks with specified lending mixes, revising Priority Sector Lending to broaden coverage, implementing a national banker capacity building programme, accrediting credit counsellors, creating a universal Udyami Portal, developing a Movable Asset Registry, and operationalizing TReDS; banks are urged to adopt MSME sensitive lending policies including standby credit, additional working capital, mid term reviews and time bound credit decisions.

Hedging of currency risk: liberalised documentary requirements proposed to ease exporters' and importers' hedging under contracted route
Proposal to liberalise documentary evidence requirements for residents hedging foreign currency exposures under the contracted exposure route, altering the current obligation to submit underlying exposure documents to Authorized Dealer Category I banks when booking derivative contracts. A consultative paper with draft operational guidelines is published and public comments from banks, market participants and businesses with forex exposure are invited to the Financial Markets Regulation Department prior to implementation.

Reference Rate for US dollar updated; cross-currency exchange rates revised and SDR-rupee linked to reference rate.
The Reserve Bank of India published the Reference Rate for the US dollar on April 7, 2016 with the prior day's comparison; using that dollar reference and middle cross currency quotes it provided rupee conversion rates for the euro, pound sterling and the Japanese yen, and specified that the SDR rupee rate will be based on the reference rate.

Reference rate for US Dollar updated; cross currency middle rates determine EUR, GBP and JPY exchange rates.
The Reserve Bank of India announces the Reference Rate for the US Dollar and specifies that Euro, British Pound and Japanese Yen rates against the Rupee are derived from that US Dollar reference using middle rates of cross currency quotes; the SDR Rupee rate will be based on the reference rate.

Reference rate publication: daily US dollar benchmark determines cross currency exchange rates and SDR rupee conversion.
The central bank published a daily reference rate for the US dollar for a specified date, which serves as the benchmark for deriving rupee exchange rates for other major currencies using the middle rates of cross currency quotes, and states that the SDR rupee rate will be based on that reference rate.

Government securities auction via price-based multiple price method with non-competitive bidding and when-issued trading eligibility.
Re-issue of four Central Government stocks will be conducted via price-based, multiple price auctions using the Reserve Bank of India's E Kuber electronic system. Up to 5% of each notified amount is allotted under the Scheme for Non-Competitive Bidding Facility to eligible individuals and institutions. Non-competitive and competitive bids must be submitted in specified windows on the auction day; auction results and the payment/settlement date follow shortly after. The stocks are eligible for When Issued trading under existing RBI guidelines.

Reference rate publication: daily dollar reference sets exchange benchmarks for cross-currency and SDR-rupee valuations.
Publication of a Reference Rate establishes the operative exchange benchmark for the rupee vis-a -vis the US dollar and serves as the basis for deriving euro, pound and yen exchange rates using middle rates of cross-currency quotations; the SDR-Rupee rate is determined on the same basis.

Entrepreneurship support for SC/ST and women enabling bank loans and institutional handholding under a national scheme.
The Stand Up India scheme facilitates composite bank loans for new non farm enterprises by Scheduled Caste, Scheduled Tribe and women borrowers, paired with a RuPay debit facility, credit history development, a SIDBI managed refinance window and an NCGTC credit guarantee corpus. Implementation is led by SIDBI with SUCC designation for SIDBI and NABARD offices, partnerships for pre loan training and handholding, and a web portal for registration and support to expand institutional credit reach and integrate with existing inclusion programmes.

Official Development Assistance loan committed for multiple infrastructure and sanitation projects in India, strengthening bilateral development cooperation.
Japan made an Official Development Assistance loan commitment to India of JPY 242.2 billion, formalised by exchange of notes, allocated among transmission system strengthening in Madhya Pradesh; Odisha integrated sanitation improvement; phases of the Dedicated Freight Corridor and North East road connectivity projects; and a Jharkhand horticulture micro-drip irrigation project, and forming part of a larger annual ODA allocation noted as a record aggregate commitment.

Reference rate for US dollar published; euro, pound, yen exchange rates and SDR rupee basis announced.
The central bank published the reference rate for the US dollar and, using the dollar reference and middle rates of cross currency quotes, provided corresponding rupee exchange rates for the euro, pound and yen; it noted the prior day's reference rate for comparison and stated that the SDR Rupee rate will be based on the published reference rate.

Extended bank hours: counters open for government business until evening; electronic tax payments allowed through midnight.
Reserve Bank instructions require extended bank hours for government business: agency banks must keep counters at designated branches open until the evening to facilitate taxpayer payments, while electronic transactions will continue until midnight the same day.

Private placement reforms simplify issuance and filings, restrict use of application monies until allotment, and tighten compliance measures.
The Bill amends the Companies Act, 2013 to simplify private placement by removing separate offer letters, consolidating filings into the return of allotment, restricting use of application monies until allotment and return filing, and prescribing penalties and deeming consequences for non compliance; it also requires companies to maintain a register of significant beneficial owners with mandatory declarations, notice and Tribunal enforcement mechanisms for non cooperation, and revises governance, reporting and enforcement provisions to harmonise with securities and banking laws.