Reference rate for US Dollar updated, affecting rupee exchange rates for major currencies and SDR valuation.
The Reserve Bank of India sets a reference rate for the US Dollar and, using middle cross-currency quotes, provides rupee exchange rates for the euro, pound and yen; the SDR Rupee rate is to be based on that reference rate.

Bank recapitalization support to strengthen banks' role in economic growth announced alongside Union Bank's Sydney branch inauguration.
The government will provide sufficient funds for bank recapitalisation to strengthen lending capacity and support banks' central role in achieving higher economic growth, announced during the inauguration of Union Bank of India's Sydney branch. Union Bank's extensive domestic network, product coverage across Retail, Agriculture, MSME, Large Corporate and NRI segments, and recent digital launches including a mobile wallet and online account opening were highlighted as operational strengths.

Reference Rate determination sets daily exchange rates and underpins cross currency quotations and SDR Rupee linkage for the rupee.
The Reserve Bank of India publishes a Reference Rate for the US Dollar as the daily benchmark; that rate, together with middle rates of cross currency quotes, is used to derive exchange rates for euro, pound sterling and yen against the rupee, and the SDR Rupee rate is based on the reference rate.

Reference rate publication affects derived exchange rates for major currencies and determines the SDR Rupee linkage.
The Reserve Bank published the Reference Rate for the US dollar and the preceding day's rate; using that reference and cross currency middle rates, it provided derived rupee exchange rates for the euro, pound sterling and the Japanese yen and stated that the SDR Rupee rate will be based on the reference rate.

Reference rate published: RBI released the US dollar reference and derived euro, pound and yen exchange rates.
The Reserve Bank of India published the reference rate for the US dollar for March 23, 2016, compared it with the prior day's rate, and, using the US dollar reference and middle cross currency quotes, provided derived exchange rates for the euro, pound sterling and Japanese yen against the rupee for March 22 and March 23, 2016. The statement further specifies that the SDR Rupee rate will be based on the published reference rate.

Buyback of inflation indexed bonds via reverse auction offers ad hoc early redemption under specified electronic bidding procedures.
Repurchase of government inflation linked stock is announced as an ad hoc premature redemption using surplus cash balances via a price based reverse auction under a multiple price method. Bids must be submitted electronically on the central bank's Core Banking Solution (E Kuber) within the specified auction window, with results declared the same day, and the measure does not change the underlying security terms except to offer early redemption per the announced procedure.

Crop insurance scheme expands low-premium coverage, using local loss assessment and technology for faster claim settlement.
The New Crop Insurance Scheme establishes a low-premium, large-volume insurance framework to expand farmer coverage and reduce farm-sector distress by mobilising banking, insurance and financial systems. It modifies loss-determination through local level assessment for calamities and mandates rapid estimation and early settlement of claims using mobile and remote-sensing technology. Complementary measures include a NABARD Agri-Credit Monitoring portal to track agricultural loans and an E-Shakti roadmap for digitising Self-Help Groups, with stakeholder consultation and possible penalties for delayed claim settlement.

Reference rate for US dollar sets rupee exchange rates for major currencies and determines SDR Rupee rate.
Reserve Bank of India establishes a reference rate for the US dollar as the operative benchmark to derive exchange rates of the euro, pound sterling and yen against the rupee, using the US dollar reference together with middle rates of cross currency quotes; the SDR Rupee rate is declared to be based on this reference rate.

Foreign Direct Investment approvals: Govt clears multiple proposals and refers a major proposal to CCEA for decision.
The Government approved fifteen FDI proposals totalling approximately 7261.6 crore and recommended one major proposal to the Cabinet Committee on Economic Affairs under the FDI Policy. Approved transactions cover equity subscriptions, share transfers and increases in foreign shareholding across insurance, pharma, defence, manufacturing, IT/ITES and asset reconstruction, including post-facto regularisations and requests to remove compounding conditions. Separately, eight proposals were deferred, ten were rejected for non-compliance or incomplete conditions, and one application was withdrawn.

Reference rate for US dollar updated; derived euro, pound and yen rates published and SDR rupee linked to that reference rate.
The Reserve Bank of India published an updated reference rate for the US dollar and the prior business day's rate; it calculated euro, pound sterling and yen exchange rates against the rupee using that US dollar reference rate together with middle rates of cross currency quotes, and stated that the SDR rupee rate will be based on the published reference rate.

Reference rate for US Dollar set, with cross currency rupee rates for euro, pound and yen determined accordingly.
The Reserve Bank of India published the Reference Rate for the US Dollar for March 18, 2016 and compared it with the prior day, providing an official benchmark rupee value. Based on that USD reference rate and the middle rates of cross currency quotes, the Bank supplied rupee exchange rates for the euro, pound sterling and Japanese yen. The press release states that the SDR Rupee rate will be based on the stated reference rate.

Participation of standalone primary dealers in currency futures permitted subject to eligibility, position limits and risk management.
Standalone Primary Dealers are permitted to participate in currency futures on recognised exchanges as a non-core activity provided they meet the minimum Net Owned Fund requirement and capital adequacy constraints. PDs may trade only on their own account, must observe exchange and aggregate position limits across currency pairs, and implement board approved risk management, systems and manpower. Market risk capital is the higher of a standardised charge or internal VaR; credit risk capital follows CCP exposure methodology with specified conversion factors. The Reserve Bank may restrict or withdraw permission for supervisory concerns.

March residual transactions reporting: segregate and separately account year end receipts to ensure correct fiscal year posting.
Banks must adopt special transmission arrangements so that transactions effected up to the financial year end are recorded in that year. Nodal/focal point branches will segregate March Residual transactions from April transactions, prepare distinct consecutively numbered main scrolls for March Residual items reported during the first ten days of April, forward daily summaries and Daily Memos for separate settlement with the Central Accounts Section, and label March Residual statements distinctly to avoid commingling.

Reference Rate for US Dollar sets exchange rate basis determining EUR, GBP and JPY quotations against the Rupee.
The Reserve Bank of India published the Reference Rate for the US Dollar as the operative benchmark and provided the prior day's rate; using that Reference Rate and cross-currency middle rates, it supplied derived exchange rates for the Euro, Pound Sterling and Japanese Yen against the Rupee and stated that the SDR Rupee rate will be based on the Reference Rate.

Company investigations under section 212 prompted probe into alleged suspicious foreign exchange transactions and proposed criminal charges.
SFIO completed multiple investigations during 2014-15 and the following year and, where it proposed filing charges, the Ministry directed prosecutions. No complaints were received against private sector banks for unfair trade practices. Based on preliminary scrutiny of suspicious foreign-exchange operations involving a public sector bank, the Ministry ordered investigations under Section 212(1)(c) of the Companies Act into the affairs of eleven companies allegedly involved in those transactions.

Reference rate for US dollar updated, altering INR cross rates for euro, pound and yen and informing SDR rupee conversion.
The Reserve Bank of India set the reference rate for the US dollar at Rs. 67.2290 for March 15, 2016, noting the prior day's rate, and, based on that reference rate and middle cross currency quotes, published corresponding exchange rates for the euro, pound sterling and Japanese yen; the release further states that the SDR Rupee rate will be based on the announced reference rate.

Udyog Aadhaar registration simplifies MSME onboarding, replacing prior filings and removing documentary and fee barriers.
Udyog Aadhaar Memorandum introduced a simplified one page self certification registration for MSMEs, replacing Entrepreneurs' Memorandum filings, eliminating document and fee requirements, and promoting ease of doing business; complementary mechanisms include a revival and rehabilitation framework for early stress identification and bank constituted committees, and credit facilitation through a Credit Guarantee Fund Scheme and central bank guidance for collateral free lending.

Reference rate for US Dollar updated; cross currency rates set EUR, GBP and JPY against rupee; SDR rupee linked.
The Reserve Bank announced an updated reference rate for the US Dollar and published cross currency middle rates that determine the exchange rates of the Euro, Pound Sterling and Japanese Yen against the Rupee; the SDR Rupee rate will be based on the published US Dollar reference rate.

Reference rate for the US dollar published, establishing the benchmark for derived EUR, GBP, JPY rates and SDR linkage.
The Reserve Bank published the reference rate for the US Dollar and the previous day's rate, establishing the USD Rupee benchmark. Using that reference and middle cross currency quotes, it provided derived exchange rates for the Euro, Pound Sterling and Japanese Yen against the Rupee, and stated that the SDR Rupee rate will be based on the reference rate.

Currency swap extension granted to extend value date and a special currency swap to support Sri Lanka's reserves and stability.
Approval was granted to extend the value date of an existing bilateral currency swap facility as a temporary liquidity relief measure until alternative arrangements are in place, and to provide a limited-term special currency swap until the recipient avails an international financial institution facility, aimed at strengthening official reserves and economic stability.