Reference rate for US dollar updated, prompting adjusted EUR, GBP and JPY rupee exchange rates and SDR linkage.
The Reserve Bank updated the reference rate for the US dollar on August 22, 2017, noting the prior day's USD reference rate for comparison. It used that USD reference rate and middle cross-currency quotes to publish rupee exchange rates for the euro, pound sterling and the yen for August 21 and 22, 2017, and stated that the SDR-Rupee rate will be based on the announced reference rate.

Auction of government securities: re-issue offered via price-based multiple-price auction with competitive and non-competitive bids.
Announcement of re-issuance of central government securities through price-based, multiple-price auctions conducted by the Reserve Bank of India. Four stocks are offered for re-issue with specified notified amounts; both competitive and non-competitive bids are permitted under the Scheme for Non-Competitive Bidding Facility, with up to five percent of each notified amount reserved for eligible individuals and institutions. Bids must be submitted electronically on E-Kuber within prescribed time windows; auction results and payment dates are announced and the stocks are eligible for When Issued trading under RBI guidelines.

Reference rate for the US dollar set, establishing cross currency rupee rates and SDR rupee linkage for market reference.
The Reserve Bank publishes the Reference Rate for the US dollar and, using that rate together with cross currency middle rates, provides rupee exchange rates for euro, pound sterling and yen; the SDR Rupee rate will be based on the published reference rate.

Insolvency and Bankruptcy Code mandates time bound resolution and enables regulatory direction to accelerate stressed asset recovery.
The Insolvency and Bankruptcy Code provides a unified, creditor driven, time bound process to promote going concern value and compel creditors to agree viable resolution plans within prescribed timelines; complementary banking law amendments empower the central bank to direct insolvency referrals and prescribe advisory committees to address lender coordination failures, while regulatory measures-withdrawal of forbearance, asset quality review, enhanced disclosures, PCA revision, and institutional tools like a central credit repository and strengthened Joint Lenders Forum rules-seek to improve recognition, coordination and market based resolution of stressed assets.

Insolvency and Bankruptcy Code reshapes debtor creditor relations, promoting time bound single window resolution and balanced stakeholder interests.
The Insolvency and Bankruptcy Code reconfigures debtor-creditor relations, with the statute as a skeletal framework to be fleshed out by judicial interpretation; it mandates that insolvency processes avoid halting corporate functioning while ensuring debts are serviced. The Code establishes a single window, time bound resolution process aimed at promoting entrepreneurship, maximising asset value and balancing stakeholder interests, supported by coordinated roles for regulators and insolvency professionals.

Tax revenue growth may offset non tax shortfalls as GST broadened base and advance collections strengthen fiscal receipts.
Projected tax revenue growth is expected to offset weakening non-tax receipts caused by lower central bank and public sector dividends, a slow divestment programme and subdued spectrum auction proceeds. Strong advance collections, higher numbers of tax returns and a wider tax base post GST support tax side optimism, but slower inflation and downside macro risks could reduce nominal growth and revenue realisation.

Reference exchange rate determines rupee valuations and produces derived rates for major currencies and the SDR.
Publication of a central bank reference exchange rate for the US dollar establishes the benchmark rupee value used to derive other currency quotes and the SDR rupee rate. The Reserve Bank announced the US dollar reference rate and, using that rate with middle cross currency rates, published the derived rupee exchange rates for the euro, pound sterling and Japanese yen.

Insolvency and Bankruptcy Code reform examines implementation, creditor debtor balance and NCLT functioning at national conference
A national conference brings together ministers, regulators, judges, industry and insolvency professionals to examine implementation and challenges under the Insolvency and Bankruptcy Code, 2016, focusing on its time bound corporate insolvency framework and efficient exit mechanism. The programme concentrates on creditor debtor balance through an industry and banking panel, and on the operational role of the National Company Law Tribunal in practice, with the event organized jointly by the Ministry of Corporate Affairs, the National Foundation for Corporate Governance and the Insolvency and Bankruptcy Board of India to promote stakeholder dialogue on procedural and governance issues.

Reference rate for US dollar sets exchange quotes for other currencies and informs SDR Rupee computation.
The Reserve Bank of India published the reference rate for the US dollar and, using that rate with middle cross currency quotes, supplied exchange rates for the euro, pound sterling and the Japanese yen against the rupee and specified that the SDR Rupee rate will be based on the reference rate.

Loan write-off clarified as a commercial bank decision; government denies corporate write-offs and no farm waiver.
The government asserts it has not written off corporate loans and that loan write-off decisions are a commercial decision of banks. It states there has been no Centre-level scheme for farm loan waiver since 2014 and that no decision to waive farm loans has been taken. Agricultural gross NPAs increased year-on-year, while the RBI reported a reduction in agricultural NPAs due to write-offs and compromises; central records do not maintain the total quantum of farm loans written off.

Reference exchange rate for US dollar published, guiding EUR/GBP/JPY rupee conversions and linking SDR Rupee to that rate.
Publication of a daily reference exchange rate for the US dollar establishes the official rupee conversion benchmark, provides derived rupee rates for euro, pound and yen based on the US dollar reference and cross currency middle rates, and specifies that the SDR Rupee rate will be determined on the basis of the published reference rate.

Reference rate publication sets the official rupee benchmark and directs derived currency and SDR rupee valuations.
The central bank published the US Dollar Reference Rate for the stated date, compared it with the prior day, and communicated that exchange rates for EUR, GBP and JPY against the rupee are derived from that reference using middle rates of cross currency quotes; the SDR Rupee rate will be based on the published reference rate.

Generalized System of Preferences extends preferential duty-free access to beneficiary developing countries, aiding export growth while currency policy affects competitiveness.
The document notes the Generalized System of Preferences (GSP) used by the U.S.A. and the EU to grant preferential duty free treatment to designated beneficiary developing countries, including India, to promote export growth. It also states that the Reserve Bank of India assesses currency devaluation-considering inflation and other macroeconomic factors-which may affect export competitiveness, and that this information was given by the Commerce and Industry Minister in a parliamentary written reply.

Transfer of FDI approval authority to administrative ministries under SOP imposes strict processing timelines and mandatory concurrence rules.
Authority for approvals of foreign direct investment in notified sectors has been transferred to Administrative Ministries/Departments, with a prescribed Standard Operating Procedure requiring Competent Authorities to process complete proposals within specified timelines, seek Department of Industrial Policy and Promotion concurrence where rejection or additional conditions are proposed, and allow extended time where security comments from the Ministry of Home Affairs are required; the release also reported the number and departmental distribution of pending proposals.

Reference rate for US Dollar sets Rupee exchange rates for major currencies and determines the SDR Rupee linkage.
Reserve Bank of India published the US Dollar reference rate and, using cross currency middle rates, provided corresponding Rupee exchange rates for the Euro, British Pound and Japanese Yen; it also stated that the SDR Rupee rate will be based on that reference rate.

Current account deficit widens due to higher trade deficit driven by increased POL and gold imports.
The CAD widened in Q4 of 2016-17 because the trade deficit increased as merchandise imports rose more than exports, with higher imports of Petroleum, Oil & Lubricants and gold and silver the principal contributors; the CAD nonetheless remained modest and within manageable limits while the Government and central bank continue to monitor the external situation and calibrate policy responses.

Reference rate for US Dollar published; cross-currency rupee rates and SDR rupee reference linkage announced today.
The authority set the US Dollar reference rate at Rs. 63.7382 on August 8, 2017, with the prior day's rate at Rs. 63.7375, and published corresponding rupee rates for the euro, pound sterling and the Japanese yen derived from middle cross currency quotes; it further states that the SDR Rupee rate will be based on this reference rate.

Government securities auction using multiple-price method with electronic competitive and reserved non-competitive participation.
Sale by re-issue of central government stocks is offered through a price-based auction employing the multiple price method, with specified notified amounts. Auctions will use an electronic bidding platform; both competitive and non-competitive bids are accepted, with up to 5% of each notified amount reserved for eligible participants under the Non-Competitive Bidding Facility. Submission windows for non-competitive and competitive bids are prescribed, the auction result and payment/settlement dates are fixed, and the stocks will be eligible for When Issued trading under existing guidance.

Foreign exchange reserves rise to record level after foreign currency assets gain; gold holdings steady and reserve position mixed.
Foreign exchange reserves rose to a record level driven chiefly by an increase in foreign currency assets, which include valuation effects from non US currencies; gold holdings were unchanged, special drawing rights edged up slightly, and the reserve position with the IMF declined modestly.

Prudential regulation of NBFCs emphasizes capital adequacy and provisioning while monitoring loan growth and asset quality.
Registered NBFCs that accept deposits and systemically important non deposit NBFCs (excluding State run entities) are subject to prudential regulations, including capital adequacy requirements, provisioning norms and reporting obligations; reported data shows loan growth alongside largely stable gross and net NPA ratios over the referenced three year period.