Reference rate publication: RBI issues currency benchmarks and prescribes cross currency and SDR conversion methodology.
The Reserve Bank of India publishes official Reference Rates for the US dollar and the euro, which serve as primary benchmarks. Other currency exchange rates, including GBP and JPY against the rupee, are derived from the dollar reference and cross currency middle rates. The press release further states that the SDR Rupee rate will be based on the published Reference Rate, establishing the methodological linkage for derived conversions.

Deputy Governor appointment: R. Gandhi to oversee banking operations, non banking supervision, IT, legal and risk monitoring.
Appointment of Shri R. Gandhi as Deputy Governor of the Reserve Bank of India for a three-year term, elevated from Executive Director, with assigned portfolios including Banking Operations and Development, Non-Banking Supervision, Urban Banks, Expenditure and Budgetary Control, Information Technology, Legal, Premises and Risk Monitoring; supported by extensive RBI experience in payments, IT, market operations, currency management, HR and regulatory secondment experience.

Reference Rate update: central bank published daily foreign exchange reference rates and cross currency derived currency rates.
Announcement states the Reserve Bank of India's Reference Rate for the US dollar and the Euro for April 3, 2014, compares them with the previous day's rates, notes that the SDR Rupee rate will be based on the Reference Rate, and gives derived rupee rates for the British pound and Japanese yen using cross currency middle rates.

In principle approval for banking licences allows applicants to seek full licence after meeting regulatory conditions.
RBI granted "in principle" approval to two applicants to set up banks under the Guidelines, subject to meeting stipulated regulatory and procedural conditions within the validity period; on RBI's satisfaction they may be considered for a licence to commence banking business under Section 22(1) of the Banking Regulation Act, 1949, and until a regular licence is issued they are barred from doing banking business.

Reference Rate publication for major currencies; guides rupee cross currency calculations and SDR rupee conversion basis.
The Reserve Bank of India published official Reference Rate quotations for the US dollar and the euro, compared them with the prior reference day, and, using the US dollar reference and cross currency middle rates, provided derived rupee exchange rates for the pound sterling and the Japanese yen; it also stated that the SDR Rupee rate will be based on the published reference rate.

Monetary policy update provides the analytical backdrop to inform the upcoming bi monthly policy deliberations and guidance.
The document announces a macroeconomic and monetary update released as the analytical backdrop to the First Bi monthly Monetary Policy Statement for the 2014-15 cycle, presenting recent macroeconomic trends and monetary developments to inform policy deliberations and signal the central bank's analytical frame.

Treasury bill issuance schedule announced; government and central bank retain flexibility to modify auction amounts and timing.
Government of India, with the Reserve Bank of India, announced a quarterly auction calendar specifying recurring auction dates and tenor-specific issuance quantities for 91-day, 182-day and 364-day Treasury Bills and aggregate totals for the quarter. The Government and the Reserve Bank retain flexibility to modify the notified amount and timing of auctions based on cash requirements and market conditions; the calendar is subject to change and all auctions are subject to the terms and conditions specified in the General Notification referenced in the announcement.

Non-competitive bidding reservation for retail investors ensures retail access while maintaining an indicative auction calendar.
Indicative weekly auction calendar for government marketable dated securities for the first half of fiscal 2014-15 sets aggregate notified amounts and security-wise allocations across four maturity buckets and aims to aid investor planning and market transparency. All auctions include a non-competitive bidding facility reserving five percent of notified amounts for specified retail investors. The Government and the Reserve Bank retain flexibility to modify notified amounts, issuance periods, maturities and instrument types in response to financing needs and market conditions, after giving due notice.

International Investment Position shows net foreign claims rising as foreign-owned assets grow faster than resident external assets.
India's IIP for December 2013 records an increased net liability position as foreign-owned assets in India rose more than residents' assets abroad. Reserve assets dominated external assets; liabilities were concentrated in direct investment, portfolio investment, loans, trade credit and currency and deposits. Rupee appreciation affected US dollar valuations, increasing equity liabilities by stock valuation effects while non-debt liability share declined marginally.

Reference Rate publication sets official exchange benchmarks for major currencies and informs SDR rupee valuation.
The Reserve Bank of India published official Reference Rates for the Rupee against the US dollar and the Euro, compared with the previous day's rates, and supplied derived Rupee rates for the British pound and Japanese yen using the US dollar reference and cross currency middle rates. The release states the SDR-Rupee rate will be based on the published reference rate.

Extended banking hours enable in-person tax payments to government counters before the fiscal year-end deadline.
Reserve Bank directed agency banks to keep designated government business counters open with extended hours on the specified weekend days and, where applicable, on the Monday otherwise observed as a public holiday, while select branches at key locations will operate as regular working days to transact government business; electronic transactions for government receipts will continue until midnight on the fiscal year end day.

Reference exchange rates published for major currencies; rupee conversion benchmarks and cross currency derived quotes updated for transparency.
Reserve Bank published official reference exchange rates for the US dollar and euro with prior-day comparators, provided rupee rates for currencies calculated from cross currency middle rates (including pound sterling and yen), and stated that the SDR rupee conversion will be based on the announced reference rate.

Tax payment facilitation: banks and central bank extend hours and electronic systems to ensure government receipts processing.
Banks and the central bank directed designated agency bank branches and RBI offices handling government business to keep counters open for extended hours and to operate select branches where holidays applied, while electronic transactions would continue until midnight; special clearing operations and centralised payment systems including RTGS and NEFT were to remain operational to facilitate government receipts over the specified three-day period.

Reference rate for foreign exchange announced; sets benchmark for cross currency quotations and SDR rupee calculation.
The Reserve Bank published reference rates for the US dollar and the euro and reported the previous day's rates for comparison; exchange rates for pound sterling and Japanese yen are derived from the US dollar reference and cross currency middle rates. The release serves as the official benchmark for market reference, and the SDR Rupee rate will be based on the published reference rate.

RBI offices open for public transactions on April 1 to maintain public-facing bank services in Mumbai and Navi Mumbai.
All offices of the Reserve Bank situated in Mumbai and Navi Mumbai will remain open for public transactions on April 1, 2014; the press release serves as an administrative notice ensuring continued office accessibility on that date.

Reference Rate publication sets exchange benchmarks and informs cross currency rupee rates and SDR Rupee calculation methodology.
The Reserve Bank of India published the Reference Rate for the US dollar and Euro for March 25, 2014, and disclosed prior-day rates for comparison. The Bank derived GBP and JPY exchange rates against the Rupee using the US dollar reference rate and mid market cross currency quotes. The release further states that the SDR Rupee rate will be based on the published reference rate, establishing the reference rate as the basis for related currency determinations and reporting.

Reference rate announcement sets rupee benchmarks for dollar and euro and informs derived pound and yen exchange rates.
The Reserve Bank published its Reference Rate establishing benchmark rupee exchange rates for the US dollar and the euro, compared them with the previous day, and used the dollar Reference Rate plus middle cross currency quotes to derive rupee rates for the pound sterling and the Japanese yen; the press release states the SDR Rupee rate will be based on the published Reference Rate.

Credit information standardisation: CICs to adopt common data formats and expanded reporting to improve CIR accuracy and accessibility.
The Report recommends standardising and expanding credit information furnished to CICs by making all credit institutions members of CICs, broadening product coverage, and adopting common data formats; CIRs should use a common credit score classification, report co borrower/guarantor details, provide a single borrower CIR via unique identifiers, link with CERSAI for mortgage data, enable online corrections, disclose disputes and customer comments, prioritise grievance redressal, allow direct reporting of wilful defaults to CICs, publish suit filed data accessibly, supply free CIRs to customers, and implement a Data Quality Index.

Monetary policy update: coordinated release of macroeconomic and monetary developments with the bi-monthly policy statement.
Announcement of the central bank's release of the Macroeconomic and Monetary Developments (An Update) together with the First Bi-monthly Monetary Policy Statement for 2014-15, indicating coordinated publication of macroeconomic assessment and monetary policy guidance.

Deputy Governor early departure prompts search for successor and acknowledges leadership in risk-based supervision at RBI.
Deputy Governor K. C. Chakrabarty requested an early departure effective April 25, 2014, ahead of his scheduled term end on June 30, 2014, for personal reasons; the Reserve Bank recorded gratitude for his service, highlighted his leadership in moving the Bank toward risk-based supervision, and stated that a search for his successor is underway.