Banking licence rejection bars the entity from carrying banking business and triggers liquidation with insured deposit repayment process.
The Reserve Bank rejected the bank's application for a licence under Section 22(3) and directed cessation of banking business, requesting winding up and appointment of a liquidator; this follows statutory inspections and supervisory reviews revealing sustained negative net worth, inadequate CRAR, high NPAs, regulatory breaches, KYC and reporting lapses, frauds, and unsuccessful remediation efforts, and depositors will be eligible for repayment under the Deposit Insurance scheme subject to its terms.

Reference rate update: central bank published foreign exchange reference rates and derived cross currency rupee rates.
The central bank published the Reference Rate for the US dollar and the Euro for April 23, 2014, compared with the prior day's figures, and-using the US dollar reference and cross currency middle rates-provided derived rupee exchange rates for the British pound and the Japanese yen. The notice states that the SDR-Rupee rate will be based on the published reference rate.

Reference rate publication sets rupee exchange benchmarks for major currencies and underpins SDR valuation for market guidance.
The Reserve Bank of India publishes official reference rates for major foreign currencies, reporting day to day movements and deriving cross currency rupee rates from the US dollar reference and middle cross currency quotes; the SDR Rupee rate is to be based on the published reference rate, thereby providing authoritative benchmarks for currency pricing and SDR valuation.

Government securities auction: uniform-price re-issue with competitive and non-competitive electronic bidding and retail allotment quota.
Re-issue of four central government stocks will be offered through uniform-price auctions with specified notified amounts, results announced on the auction date and settlement on the scheduled payment date. Up to five percent of each issue is reserved for eligible individuals and institutions under the non-competitive bidding facility. Competitive and non-competitive bids must be submitted electronically via the central bank's core banking system within prescribed time windows, and the stocks are eligible for when-issued trading under the central bank's when-issued transaction guidelines.

Currency note issuance: new banknotes with inset letter introduced; existing notes in the denomination remain legal tender.
The Bank will issue Rs.100 denomination banknotes in the Mahatma Gandhi Series 2005 bearing the Governor's signature and year of printing 2014, incorporating the currency symbol and an inset letter "L" in both numbering panels; the design matches earlier Series 2005 Rs.100 notes. All previously issued Rs.100 banknotes will continue to be legal tender.

Banknote issuance: new denomination variant with inset letter and symbolization announced; prior notes remain legal tender.
Banknote issuance of a fifty rupee denomination variant incorporating the rupee symbol on both faces and an inset letter "L" in each numbering panel is announced, adopting the Mahatma Gandhi Series 2005 design family and bearing the Governor's signature and the year of printing on the reverse. All previously issued fifty rupee banknotes in the denomination continue to constitute legal tender.

Reference rate update influences cross currency rupee rates, sets SDR rupee conversion basis, and affects GBP and JPY derived quotes.
Reference Rate for the US dollar and Euro are published for April 21, 2014, establishing official rupee valuations and serving as the basis for deriving cross currency quotations; derived rupee rates for GBP and JPY are provided and the SDR Rupee rate is stated to be based on this published reference rate.

Voluntary retirement enables senior central banker to assume CAFRAL directorship, transitioning from RBI executive leadership.
An Executive Director of the Reserve Bank voluntarily retired effective April 20, 2014 to assume the directorship of CAFRAL from April 21, 2014, transitioning from a senior RBI executive role to institutional leadership at CAFRAL.

Reference rate updates set exchange benchmarks and determine SDR rupee valuation, including derived pound and yen rates.
The notice reports the Reserve Bank of India's Reference Rate for the US dollar and Euro on April 17, 2014, compares those rates with April 16, 2014, and gives derived exchange rates for the pound sterling and Japanese yen against the rupee based on the US dollar reference rate and cross currency middle rates; it further states that the SDR Rupee rate will be based on the reference rate.

Reference rates determine daily exchange benchmarks, inform cross currency conversions and underpin SDR rupee valuation.
Announcement of daily Reference Rates publishes the US dollar and Euro benchmarks and the previous day's rates; derived cross currency exchange rates for pound sterling and Japanese yen are computed from the US dollar Reference Rate using middle cross currency quotes; the SDR rupee rate is stated to be based on the Reference Rate.

Government securities auction: uniform-price re-issue with non-competitive allotment and mandatory electronic bidding through the E Kuber system.
Re-issue auctions of multiple Government of India stocks will be conducted by the RBI in Mumbai on April 17, 2014 using the uniform price auction method. Up to 5% of each issue is earmarked for eligible participants under the Non-Competitive Bidding Facility. Both competitive and non-competitive bids must be submitted electronically via the E-Kuber system within prescribed time windows. Auction results will be announced on the auction date and payment by successful bidders is set for the notified settlement date. The stocks qualify for When Issued trading under existing RBI guidelines.

Reference rate publication: central bank set rupee reference rates for principal currencies and mandated SDR rupee linkage.
The central bank announced the reference rates for the US dollar and the Euro and, using those rates with middle cross currency quotations, published rupee conversion rates for the British pound and Japanese yen; it further stated that the SDR Rupee rate will be based on the published reference rate.

Issuance of banknotes: new notes in specified denomination with inset letter E issued; existing notes remain legal tender.
Issuance of banknotes in a specified denomination with the currency symbol on obverse and reverse, inset letter 'E' in numbering panels, the issue authority's signature and year of printing on the reverse; design conforms to existing series and all previously issued notes of the same denomination continue to be legal tender.

Issue of banknotes with inset letter E and matching series design, maintaining existing notes' legal tender status.
Issuance of banknotes in a specified denomination bearing the currency symbol and inset letter 'E' in both numbering panels, matching the Mahatma Gandhi Series-2005 design and bearing the Governor's signature and year of printing; all previously issued banknotes of the same denomination will continue to be legal tender.

Reference rate update sets rupee exchange benchmarks, fixing cross-currency GBP and JPY rates and SDR linkage.
The Reserve Bank of India published Reference Rates for the US dollar and the euro on April 11, 2014, compared them with the previous day's rates, and-using the dollar reference rate and cross-currency mid-market quotes-derived corresponding rupee rates for the British pound and the Japanese yen; the release states the SDR-rupee rate will be based on the published reference rate.

Transparent credit pricing reforms mandate Base Rate methodologies, board-approved spread policies, and borrower protections for floating loans.
Reforms require banks to compute Base Rate preferably on marginal cost of funds or, if using other methods, to ensure non-discriminatory treatment; boards must approve policies detailing spread components, delegation of pricing authority and RAROC alignment. Existing customers' spreads may not be raised except for credit deterioration and must be disclosed at contract stage; reset dates for floating loans should be fixed and BPLR contracts migrated to Base Rate without switch charges. Recommendations also include an industry floating benchmark, timely prepayment benefit credit, stronger grievance redressal and consumer education.

Government securities re-issue auction using uniform price method with non-competitive allotment and E-Kuber electronic bidding.
Re-issue of specified Government stocks will be conducted by the Reserve Bank of India via price-based auctions using the uniform price method. Both competitive and non-competitive electronic bids are required to be submitted on the E-Kuber system within designated time windows; up to five percent of each notified amount is allotted under the Non-Competitive Bidding Facility to eligible individuals and institutions. Auction results and payment are scheduled on specified dates, and the stocks are eligible for when-issued trading under existing RBI guidelines.

Reference rate announcement: US dollar and euro reference rates updated, affecting derived GBP and JPY exchange rates.
RBI announced updated reference rates for the US dollar (Rs.60.0740) and the euro (Rs.82.7896) on April 9, 2014, compared with prior published values, and-using the dollar reference rate and cross-currency mid rates-provided corresponding rupee exchange rates for the pound sterling and the Japanese yen; the SDR-rupee rate will be based on the reference rate.

Banknote issuance: new denomination notes with inset letter A to be issued; earlier notes remain legal tender.
The Reserve Bank of India will issue new banknotes in the Mahatma Gandhi Series incorporating the currency symbol on both faces and an inset letter 'A' in the numbering panels, bearing the Governor's signature and year of printing; the design is similar to earlier Series-2005 notes and all previously issued banknotes of the same denomination continue to be legal tender.

Reference exchange rates published; USD and Euro rates set, with derived GBP and JPY rates and SDR conversion basis indicated.
Publication of reference exchange rates: the central authority set the Reference Rate for the US dollar and the Euro on April 7, 2014, provided prior-date comparators, and specified that derived GBP and JPY rupee rates are calculated from the USD Reference Rate and cross-currency middle rates; the SDR-rupee rate will be based on the Reference Rate.