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December 11, 2013
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Issue of banknotes incorporating the rupee symbol without inset letter maintains prior notes' legal tender status and design continuity.
Issue of Rs.100 banknotes incorporating the rupee symbol on obverse and reverse without an inset letter is announced; notes will follow the Mahatma Gandhi Series design, bear the Governor's signature and printing year, and all previously issued notes of the denomination continue as legal tender.
December 11, 2013
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Currency design update: new banknotes incorporate rupee symbol without inset letter; existing notes remain legal tender.
The central bank will issue fifty denomination banknotes incorporating the rupee symbol on obverse and reverse and omitting the inset letter in both numbering panels; these notes retain the existing Mahatma Gandhi Series design, carry the Governor's signature and year of printing, and all previously issued banknotes of the same denomination continue to be legal tender.
December 11, 2013
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FDI policy amendments broaden sectoral entry routes and caps, altering investment access and reporting for multiple industries.
The government has recently amended sectoral caps and/or entry routes in various sectors, affecting permitted modes of foreign investment; no specific system exists to track individual FDI projects. An annexure provides sector-wise aggregate FDI equity inflows for April-October 2013, reporting totals received via SIA/FIPB, acquisition of existing shares and the RBI automatic route, with food processing, services, drugs and pharmaceuticals and automobile among the leading recipient sectors.
December 11, 2013
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Reference exchange rate announcement sets benchmark rates and guides cross currency and SDR rupee conversions for market use.
Reserve Bank of India announced Reference Rates for the US dollar and the Euro, provided previous-day comparisons, and stated that the SDR Rupee rate will be based on the Reference Rate; it also supplied derived pound sterling and Japanese yen rates using the US dollar Reference Rate and middle cross-currency quotes.
December 10, 2013
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Reference rate publication sets official currency benchmarks and fixes the basis for SDR Rupee conversion.
Publication of Reference Rates by the central bank sets the official exchange benchmarks for the US dollar and the Euro and, using those rates with cross currency middle quotes, derives exchange rates for other currencies such as the pound sterling and the yen; the announcement specifies that the SDR Rupee rate will be determined on the basis of the published Reference Rate.
December 9, 2013
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Recruitment to Serious Fraud Investigation Office shifts from deputation toward creating permanent staff through amended recruitment rules and contract experts.
Recruitment to the Serious Fraud Investigation Office is effected principally on a deputation basis from other government agencies and PSUs per the Cabinet's founding decision. The Ministry is consulting the Department of Personnel and Training to amend recruitment rules to permit appointment of permanent staff, and has engaged specialised professionals on contract to supplement investigatory capacity.
December 9, 2013
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Financial literacy advances inclusion and consumer protection by standardised education, outreach centres and tech-enabled access reforms.
Financial literacy is advanced as a central policy mechanism to promote financial inclusion, consumer protection and prudent market conduct by empowering individuals to make informed financial decisions. A National Strategy for Financial Education coordinates a multi-year mass campaign and standardises core messages-saving, borrowing prudently, insurance and retirement-delivered through Financial Literacy Centres, outdoor camps, mass media, school curricula and digital resources. Complementary reforms-interoperable banking platforms, liberalised KYC, banking correspondents and digital identity-lower access barriers while targeted, technology-enabled delivery models and stakeholder coordination aim to convert awareness into sustained behavioural change.
December 9, 2013
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Reference rate update for foreign currencies; derived exchange rates for pound and yen follow from the published benchmark.
Reserve Bank of India updates reference rates for the US dollar and Euro, provides derived rupee exchange rates for pound sterling and Japanese yen from the US dollar reference and cross-currency middle rates, and states that the SDR-Rupee rate will be based on the published reference rate.
December 9, 2013
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Currency issuance: New banknotes will bear the rupee symbol and inset letter; existing notes remain legal tender.
Reserve Bank of India will issue banknotes of the specified denomination incorporating the rupee symbol on both obverse and reverse and an inset letter 'L' in the numbering panels, bearing the Governor's signature and the year of printing; these notes form part of the Mahatma Gandhi Series-2005 and retain the same overall design elements as earlier notes. All previously issued banknotes in the same denomination will continue to circulate as legal tender.
December 7, 2013
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MSME development programmes expand funding, training, credit access and technology support to boost enterprise competitiveness nationwide.
MSME development programmes expand financial, training and technology support to strengthen micro, small and medium enterprises. Flagship measures include the Prime Minister's Employment Generation Programme for credit linked subsidy and enterprise creation, the Credit Linked Capital Subsidy Scheme for technology induction, the Credit Guarantee Scheme for collateral free loans, the Performance & Credit Rating Scheme to subsidise third party ratings that improve bank access, and the National Manufacturing Competitiveness Programme to enhance enterprise competitiveness through technology and skills.
December 6, 2013
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Deposit insurance requirement: companies taking public deposits must secure prescribed insurance, pending rules developed via consultation.
Companies authorised to accept public deposits must provide deposit insurance in such manner and to such extent as may be prescribed; operationalising this obligation requires framing specific rules through consultative rulemaking with relevant banking and regulatory stakeholders to set the form, extent and mechanisms of the prescribed insurance.
December 6, 2013
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Reference Rate publication sets official exchange benchmarks and determines the SDR Rupee valuation based on those quotes.
The Reserve Bank of India publishes daily Reference Rate quotations for major foreign currencies; the release reports the US dollar and euro reference rates and derives other currency exchange rates from middle cross currency quotes, and states that the SDR-Rupee rate will be based on the published reference rate.
December 5, 2013
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Reference exchange rates published: RBI issues prevailing US dollar and euro reference rates affecting cross-currency rupee quotes.
The Reserve Bank of India fixed the reference exchange rates for December 5, 2013, at Rs.61.6895 for the US dollar and Rs.84.0690 for the euro, citing previous-day comparators. These reference rates form the benchmark for rupee valuation and are used, with cross-currency middle rates, to calculate rupee equivalents for the pound sterling and the Japanese yen. The release also confirms that the SDR-rupee rate will be based on the published reference rate.
December 3, 2013
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Reference exchange rates published: US dollar and Euro rates updated, with cross-currency derived GBP and JPY rates.
Reserve Bank of India published Reference Rate data stating the rupee exchange values for the US dollar and the euro on December 3, 2013, with corresponding previous-day figures. Using the US dollar Reference Rate and middle cross-currency quotes, the Bank provided derived exchange rates for the pound sterling and the Japanese yen, and noted that the SDR Rupee rate will be based on the Reference Rate.
December 3, 2013
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Auction of Government Stocks: uniform-price sale with electronic competitive and non-competitive bids and limited non-competitive allocation.
Re-issue auctions of multiple Central Government stocks will be conducted by the Reserve Bank of India using the uniform price auction method with competitive and non-competitive electronic bids submitted via the E-Kuber system within specified windows. A limited portion of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility. Results will be announced on the auction date and payment/settlement will occur on the scheduled payment date. The stocks will be eligible for When Issued trading under RBI guidelines.
December 2, 2013
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Inflation-indexed savings securities protect real savings with CPI-linked compounded interest and limited early redemption and penalty on premature withdrawal.
Launch of Inflation Indexed National Saving Securities-Cumulative (IINSS-C) creates a bank-distributed retail instrument available to individuals, HUFs, qualifying charitable institutions and universities. Interest combines a fixed component plus a CPI-linked component, compounded half-yearly into principal and paid at maturity. Early redemption is permitted for seniors after one year and others after three years, only on coupon dates and subject to a penalty equal to 50% of the last coupon. RBI will provide further scheme details; non-cumulative issuance will be examined later.
December 2, 2013
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Reference rate for US dollar and Euro announced, guiding derived currency conversions and SDR rupee valuation.
The document announces the reference rates for the US dollar and the Euro for 2 December 2013, records the prior day's rates for comparison, and provides GBP and JPY rupee rates derived from the US dollar reference and cross currency middle rates; it also states that the SDR rupee rate will be based on the published reference rate.
November 30, 2013
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Financial inclusion: expand access to savings, payments, credit and insurance using technology, agents and simplified KYC.
The Reserve Bank's financial inclusion strategy combines supply side reforms-zero balance Basic Savings Bank Deposit Accounts, authorised Business Correspondents, core banking and biometric/ICT adoption, simplified KYC including Aadhaar e KYC, and branch opening relaxations-with demand side measures-Financial Inclusion Plans, financial literacy programmes and integration of Direct Benefit Transfer-to expand access to savings, payments, credit, insurance and pension products via sustainable, technology enabled delivery models.
November 30, 2013
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Bank insurance broking entry requires specific prior regulatory approval and adherence to prescribed professional and operational conditions.
Banks may undertake insurance broking departmentally only with specific prior approval from the Reserve Bank, subject to prescribed conditions and demonstration of professional expertise; approvals are granted for a three year validity period subject to subsequent review, and the Reserve Bank has invited comments on the draft guidelines before finalisation.
November 29, 2013
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Reference Rate announcement sets official exchange benchmarks and method for deriving additional currency and SDR-rupee rates.
Announcement of the Reference Rate for the US dollar and the Euro as the official published benchmarks for that date; derived exchange rates for pound sterling and Japanese yen are calculated from the US dollar reference using middle cross-currency quotes, and the SDR-rupee rate is stated to be based on the published reference rate.

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