Reference exchange rates published by central bank update dollar, euro benchmarks and inform derived cross currency rates.
Reserve Bank of India published daily reference exchange rates for the US dollar and the Euro, compared them with the prior business day, and provided derived pound sterling and Japanese yen rates computed from the dollar reference and cross currency middle rates; it also states that the SDR rupee rate will be based on the published reference rate.

Exclusive agreement prohibition: hospital exclusivity struck down and future exclusive arrangements barred, with a monetary penalty imposed.
The hospital's exclusive agreement with a single stem cell bank was found to foreclose competing banks and cause an appreciable adverse effect on competition in the stem cell banking market. Accordingly, the exclusivity agreements for the specified years were declared null and void, the hospital was prohibited from entering similar exclusive arrangements in future, and a monetary penalty based on average turnover was imposed and ordered to be deposited within the prescribed timeline.

Regulatory enforcement for banking directive violations results in a penalty after show cause process and substantiated breaches.
Regulatory enforcement under the Banking Regulation Act led to a monetary penalty on Janata Urban Co-operative Bank for breaches of RBI directives concerning unsecured advances, related party lending, concentrated exposure to housing and real estate, and single/group exposure limits; the bank also created floating charges on standard assets without prior RBI approval and failed to perform customer risk categorisation. The Reserve Bank issued a show cause notice, considered the bank's written reply, found the violations substantiated and imposed the penalty.

Withdrawal of old banknotes: acceptance limited until deadline; banks to exchange notes, ID required for large non-customer exchanges.
All banknotes printed prior to 2005 will be withdrawn to curb counterfeiting; they remain acceptable for transactions only until a specified cutoff, after which banks will provide ongoing exchange facilities. Account holders may later exchange any number of older notes at their branches, while non-customers must produce proof of identity and residence to exchange more than ten high-denomination older notes. These notes continue as legal tender with no final end date specified.

Reference Rate update for major currencies: central bank publishes revised exchange rates and derived cross currency quotations.
The Reserve Bank publishes Reference Rate quotations for the US dollar and the Euro on February 21, 2014, with the prior day's figures for comparison, and provides derived GBP and JPY exchange rates using the US dollar reference rate and middle cross currency quotes; the SDR Rupee rate will be based on this reference rate.

Cancellation of banking licence: bank barred from banking; insured deposit repayment to commence under Deposit Insurance scheme to protect depositors.
The Reserve Bank cancelled the bank's licence under Section 22 due to sustained insolvency, regulatory non compliance and ineffective management, after statutory inspections showed negative net worth, severely negative CRAR, deposit erosion, high gross NPAs and accumulated losses. Following directions, board supersession, administrator appointment and an unsatisfactory response to a Show Cause Notice, no merger proposal materialised. Licence cancellation prohibits the bank from carrying on banking business and triggers liquidation and insured deposit repayment under the Deposit Insurance and Credit Guarantee framework.

Abuse of dominance: exclusive stem cell banking tie-up found anticompetitive; hospital prohibited from similar agreements.
Exclusive contractual tie-ups for stem cell banking between the hospital and a single service provider were held to be anticompetitive and an abuse of dominance because they foreclosed consumer choice and provided no consumer benefit; the commission declared the agreements void, prohibited similar future agreements, and imposed a monetary penalty payable within the prescribed period.

Diversion of funds violation prompts regulatory monetary penalty under banking law after show-cause process concluded.
Monetary penalty imposed under statutory powers for violation of guidelines on diversion of funds by a cooperative bank. A show cause notice was issued, the bank submitted a written reply, and after considering the facts and response the regulator concluded the violation was substantiated and imposed a monetary penalty under the Banking Regulation Act (as applicable to co-operative societies).

KYC/AML non-compliance leads to regulatory monetary sanction after show cause process under banking regulation powers.
Imposition of a monetary penalty on a co operative bank for non adherence to KYC/AML guidelines and applicable regulatory directives, exercised under the Banking Regulation Act as applied to co operative societies, following issuance of a show cause notice, consideration of the bank's written reply, and a regulatory conclusion that the violations were substantiated.

Reference rate publication updates rupee exchange benchmarks, affecting cross-currency conversions and SDR-based rupee valuation methodology.
The Reserve Bank published rupee Reference Rates for the US dollar and the euro and, using those rates with middle cross-currency quotes, provided corresponding rupee exchange rates for the pound sterling and the yen; it further states the SDR-rupee rate will be based on the published reference rate, making the release an operative market benchmark for valuation, quotation and conversion purposes.

Non-disclosure of bank guarantee: regulatory penalty under Banking Regulation Act imposed after RBI found statutory violations.
Non-disclosure of a bank guarantee by Kisan Nagari Sahakari Bank Maryadit violated disclosure obligations under Sections 35(2) and 46(1) of the Banking Regulation Act and RBI directives on guarantees, co-acceptance and letters of credit. The Reserve Bank issued a show cause notice, considered the bank's written reply, found the violations substantiated and exercised its powers under Section 47A(1)(b) read with Section 46(4) to impose a monetary penalty.

KYC/AML non-compliance triggers regulatory penalty following substantiated violations including audit lapse and deposit concentration in a cooperative bank
The Reserve Bank imposed a monetary penalty on The Aurangabad District Industrial and Urban Co operative Bank Ltd. for violations of KYC/AML guidelines, non introduction of a Concurrent Audit System, wrong/unsatisfactory/delayed compliance to an inspection report, and concentration of deposits; a show cause notice was issued, the bank replied, and the regulator found the violations substantiated before imposing the penalty.

Reference exchange rates published: RBI updates dollar and euro reference rates, affecting cross currency rupee valuations.
Publication of daily Reserve Bank of India reference rates for the US dollar and the euro for February 18, 2014, with the previous day's rates for comparison; derived rupee exchange rates for pound sterling and Japanese yen are provided using cross currency mid rates; and the SDR Rupee rate is stated to be based on the published reference rate.

Reference Rate publication updates US dollar and euro exchange benchmarks and derives cross rates for GBP and JPY.
The Reserve Bank of India published the Reference Rate for the US dollar and the euro for February 17, 2014, set out the prior day's reference values for comparison, derived exchange rates for the British pound and Japanese yen using cross currency middle rates, and stated that the SDR Rupee rate will be based on the published reference rate.

Infrastructure project clearances accelerate implementation, clearing numerous projects and boosting capacity addition and financing measures.
The Government constituted the Cabinet Committee on Investment and the Project Monitoring Group to accelerate infrastructure project implementation, enabling clearance of a large portfolio of projects and prioritising stalled investments; complementary measures included capacity additions across power, roads, rail and ports, initiation of new airports and exploration blocks, and facilitation of Infrastructure Debt Funds to provide take-out finance and ease banking sector pressure.

Economic performance: government reports recovery in growth and stabilisation of key macroeconomic indicators following policy measures.
The Finance Minister reported that the government's two terms delivered growth above the long term trend, recent quarterly growth declines have been arrested by policy measures, and macroeconomic stability indicators-fiscal deficit, current account deficit, inflation, exchange rate, exports-have improved. The release also cites increased food production, expanded power capacity, extensive rural road construction, and higher central health expenditure as contributing to economic performance.

Fiscal deficit containment aims to restore macroeconomic stability while managing current account pressures and inflation.
Fiscal deficit targeted at 4.6 per cent of GDP for 2013-14 as the central fiscal policy objective, framed within an integrated stabilization strategy. The Interim Budget links this fiscal target to an aim of containing the current account deficit at a substantially lower level than the prior year and to an expected accumulation of foreign exchange reserves by year end. It reports lower wholesale price and core inflation compared with the previous year while identifying food inflation as a continuing concern, attributing improved inflation outcomes to coordinated Government and central bank efforts.

Exports recovery signals renewed merchandise trade growth as policy and market measures supported currency stability.
Merchandise exports are projected to grow after a prior-year contraction, and the Government, the monetary authority and the securities regulator implemented coordinated measures to facilitate capital inflows and stabilize the foreign exchange market, which helped limit the rupee's depreciation relative to peer emerging market currencies.

Reference rate update: central bank publishes USD and Euro reference rates and derived cross currency rates for the rupee.
The central bank announces daily Reference Rates for the US dollar and the euro, compares them with the previous day's figures, and-using the USD reference rate and mid market cross currency quotes-provides derived rupee exchange rates for the British pound and the Japanese yen; the SDR to rupee rate is to be based on the published reference rate.

Reference rate for foreign exchange published, setting USD and Euro rupee benchmarks and derived cross currency rates.
The Reserve Bank of India issued the Reference Rate for the US dollar and the Euro for February 13, 2014, comparing them with the previous day to provide benchmark rupee exchange rates. Derived rupee rates for the pound sterling and the Japanese yen were published based on the US dollar reference rate and cross currency middle rates. The SDR Rupee rate is stated to be based on the published reference rate.