Ineligibility criteria for resolution applicants bar specified persons from participating and require CoC to ensure plan viability.
Ordinance introduces statutory ineligibility for certain persons to be resolution applicants-including willful defaulters, enduring non performing borrowers who have not cured dues, guarantors of distressed corporate debtors, and connected parties-and empowers resolution professionals to set eligibility criteria while requiring the Committee of Creditors to assess feasibility and viability of resolution plans before approval. It bars sale of assets to ineligible persons, expands the insolvency regulator's rule making powers related to these provisions, and creates a general monetary penalty for contraventions where none exists.

Reference Rate updated for the US dollar; corresponding euro, pound and yen exchange rates and SDR linkage revised.
Announcement of the Reference Rate for the US dollar and corresponding middle-market exchange rates for euro, pound sterling and Japanese yen against the rupee, derived from the US dollar reference and cross-currency quotes; the SDR Rupee rate is to be based on that Reference Rate.

Reference rate for US dollar published, determining rupee cross rates for euro, pound and yen and SDR conversion.
The Reserve Bank of India published the Reference Rate for the US dollar and, using the dollar reference and cross currency middle rates, provided rupee conversion rates for the euro, pound sterling and the yen; the release also states the SDR rupee rate will be based on the published reference rate.

Flexible inflation targeting forces the Monetary Policy Committee to balance inflation and growth, holding the policy rate neutral.
The statutory creation of a Monetary Policy Committee and adoption of Flexible Inflation Targeting made headline CPI inflation the operative policy metric, with a government-set target and tolerance band and statutory accountability for sustained breach. The RBI built institutional and operational capacity - including new CPI series, a glide path to lower inflation, and strengthened liquidity-management tools - while the MPC navigated shocks (food-price volatility, demonetisation, GST) and the growth-inflation trade-off, culminating in an October decision to hold the policy rate with a neutral stance and stress the need to reinvigorate investment.

Reference rate for US Dollar guides cross-currency rupee exchange rates and determines SDR Rupee linkage for valuation.
Publication of the Reserve Bank of India reference rate for the US dollar on November 21, 2017 fixes the benchmark rupee value and records the day on day change; the notice further explains that, using this reference rate and middle cross currency quotes, corresponding rupee exchange rates for the euro, pound sterling and Japanese yen are provided, and that the SDR Rupee rate will be based on the published reference rate.

Auction sale of government stock: price-based multiple-price auctions with non-competitive facility and when-issued trading eligibility.
Sale (re-issue) of specified Central Government dated securities through price-based, multiple-price auctions with an aggregate notified limit and a government option to retain additional subscription. Up to 5% of each notified amount is reserved under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via the RBI E-Kuber system within prescribed time windows. Auction results and payment dates are specified, and the stocks are eligible for When Issued trading under RBI guidelines.

Reference exchange rate published by RBI sets US dollar and derived cross currency rates, guiding SDR rupee conversion.
Reserve Bank of India published the reference exchange rate for the US dollar and, using middle cross currency quotes, provided rupee conversion rates for the euro, pound sterling and yen for the stated dates; the release also specifies that the SDR rupee rate will be based on the published reference rate framework.

Issue price and digital-application discount for sovereign gold bonds established; online applicants receive discount when paid digitally.
Issue price for Series III Sovereign Gold Bonds is Rs. 2,964 per gram for the November 20-22 subscription window with settlement on November 27, 2017; an Online Application Discount of Rs. 50 per gram applies only to investors who apply online and pay through digital mode, as determined in consultation with the Reserve Bank of India and with bonds issued on the succeeding Monday after each subscription period.

Monetary transmission in India: move loan pricing to external benchmarks and fix spreads to improve pass-through.
Pass-through from the policy repo rate to bank lending rates in India has been slow and uneven due to a bank-dominated financial system, widespread use of internal loan-pricing benchmarks (PLR/BPLR/base rate/MCLR), liability-side rigidity from fixed-rate and long-maturity deposits, discretionary spread adjustments by banks, and weak bank balance sheets. A Study Group recommends shifting new floating-rate loans to selected external benchmarks, fixing spreads except on predefined credit events, shortening reset periodicity to quarterly, and encouraging floating-rate deposits, supported by NPA resolution and bank recapitalisation to restore transmission.

Reference exchange rate establishes the official rupee valuation and the method for deriving SDR rupee conversion.
Publication of a daily reference rate for the US dollar that sets the official rupee valuation and, using cross-currency middle rates, establishes corresponding rupee exchange rates for the euro, pound sterling and yen; the notice also provides that the SDR Rupee rate will be derived from this reference rate framework.

Sovereign credit rating upgrade reflects recognition of fiscal consolidation and structural reforms strengthening sovereign creditworthiness.
Moody's upgrade of India's Sovereign Credit Rating to Baa2 from Baa3 and change of outlook to stable is attributed to major structural reforms-introduction of GST, a sound monetary policy framework, public sector bank recapitalisation, and formalisation/digitalisation measures (demonetization, Aadhaar, DBT)-together with Government commitment to macro stability and fiscal consolidation reflected in lower deficits and improved debt metrics.

Reference rate for US Dollar updated; Euro, Pound and Yen rupee rates adjusted and SDR Rupee pegged to that reference rate.
The Reference Rate for the US Dollar is published for November 16, 2017 with the prior day rate noted; using that USD reference and middle cross currency quotes, rupee exchange rates for the Euro, Pound and Yen are supplied for the two dates. The SDR Rupee rate is declared to be based on the published USD reference rate, making the reference rate the operative basis for SDR conversion and cross currency exchange reporting.

Reference rate for US dollar published, with cross currency rupee rates and SDR rupee linkage clarified and notified.
Publication of the Reference Rate for the US dollar sets an official rupee benchmark and, using middle cross currency quotes, supplies rupee exchange rates for the euro, pound sterling and yen; the SDR Rupee rate is specified to be based on that reference rate.

Reference rate for US Dollar published as the rupee benchmark, driving cross currency and SDR rupee conversions.
Publication of a Reference Rate for the US Dollar establishing the benchmark rupee value for exchange rate quotations, with corresponding euro, pound sterling and yen cross rates derived from the USD reference and middle cross currency quotes; the SDR Rupee rate is specified to be based on the same reference rate framework.

Government securities auction uses multiple price method with electronic competitive and non competitive bidding and reserved retail allotment.
The government announced re-issue auctions of specified central government securities to be conducted by the RBI using the multiple price method, allowing optional additional retention within an overall notified limit. Both competitive and non competitive bids must be submitted electronically via the RBI E Kuber system on the auction date within prescribed time windows; up to five percent of each notified amount is reserved for eligible individuals and institutions under the non competitive bidding scheme. Auction results and payment/settlement dates are specified, and the stocks are eligible for "When Issued" trading under RBI guidelines.

Reference rate publication updates exchange rates for major currencies against the rupee and sets SDR rupee basis.
The Reserve Bank published the reference rate for the US Dollar and, based on that reference and middle cross currency quotations, provided the exchange rates of the Euro, Pound Sterling and Japanese Yen against the Rupee; the release also states that the SDR Rupee rate will be based on the published reference rate.

Sovereign Gold Bond subscription: weekly windows with succeeding issuance; online digital payments receive discounted issue price.
Series III Sovereign Gold Bonds 2017 18 are offered in weekly subscription windows (Monday-Wednesday) with bonds issued the succeeding Monday; issue prices and settlement dates are announced for each window. A discount per gram from the published issue price is available to investors who apply online and pay through digital modes, conditional on both online application and digital payment.

Reference exchange rate establishes Rupee quotations and underpins cross currency and SDR conversions for major currencies.
The Reserve Bank of India published the daily reference rate for the US Dollar and the previous day's rate for comparison; using that reference plus middle rates of cross currency quotes it provides exchange rates for Euro, Pound Sterling and Japanese Yen against the Rupee, and states that the SDR Rupee rate will be based on the reference rate.

Reference rate for US Dollar updated; cross-currency euro, pound and yen rates and SDR rupee linkage follow.
The Reserve Bank of India publishes a Reference Rate for the US Dollar and, using that reference and middle rates of cross currency quotes, provides exchange rates for the euro, pound sterling and yen against the rupee; the SDR-Rupee rate will be based on the published reference rate.

Due diligence for resolution applicants strengthened, requiring verification of antecedents and transaction histories by RPs and CoC.
IBBI amended CIRP Regulations to require that Resolution Professionals ensure each Resolution Plan submitted to the Committee of Creditors contains details assessing Resolution Applicants' credibility-including convictions, disqualifications, criminal proceedings, willful defaulter status, SEBI debarment, and transactions with the Corporate Debtor in the prior two years-and to submit particulars of transactions potentially falling under Sections 43, 45, 50 and 66 of the Code.