Treasury bill issuance calendar notified; amounts and dates subject to modification by government and central bank.
The Government of India, in consultation with the Reserve Bank of India, has notified a weekly auction calendar for Treasury Bills for the quarter ending March 2015 with specified issuance amounts by tenor. The calendar may be modified-both amounts and timing-based on government cash needs, market conditions or intervening holidays, and such changes will be announced by press release. Auctions are governed by the terms and conditions in General Notification No. F2(12)-W&M/97, as amended.

Reference rate for US dollar set by central bank, underpinning cross currency exchange rates and SDR Rupee calculation.
The Reserve Bank announced the reference rate for the US dollar as the central benchmark for the Rupee and used that reference together with middle cross currency quotes to derive the Rupee rates for the euro, pound sterling and Japanese yen; the press release also states that the SDR Rupee rate will be based on the reference rate.

Reference Rate for US dollar declared; derived euro, pound and yen exchange rates and SDR Rupee basis specified.
The Reserve Bank of India declares the Reference Rate for the US dollar for the stated date and records the prior day's rate for comparison. Based on that US dollar Reference Rate and cross currency middle rates, converted exchange rates for Euro, Pound Sterling and Japanese Yen against the rupee are published, and the SDR Rupee rate is stated to be based on the published reference rate.

Auction of government securities: price-based multiple-price sale with non-competitive allocation and electronic bid windows and when-issued trading eligibility.
Sale by price-based, multiple-price auction of re-issued central government stocks will be conducted electronically via the Reserve Bank's Core Banking Solution; both competitive and non-competitive bids must be submitted in defined electronic windows, with up to a prescribed percentage reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility, auction results announced on the auction date and payment/settlement on the specified subsequent date, and the stocks made eligible for When Issued trading under applicable RBI guidelines.

Financial inclusion expansion through universal banking access, agent deployment, payment-card activation and expedited insurance claim processing.
The PMJDY review required banks to complete account opening, payment-card issuance, passbook distribution and household coverage through planned sweep operations and public feedback, while recognizing rollout challenges in certain regions. Banks must deploy and list Bank Mitras, ensure device interoperability via the national card and AEPS, address remuneration and contractual issues to guarantee minimum agent earnings, and expedite life-insurance claim processing with accessible claim forms and short settlement timelines for compliant claims.

Reference rate published for the US dollar; cross-currency rupee rates and SDR-Rupee linkage now follow.
The Reserve Bank issued the official Reference Rate for the US dollar, disclosed the prior day reference for comparison, and published corresponding rupee exchange rates for the euro, pound sterling and Japanese yen derived from the US dollar reference and middle cross currency quotes; the press release further states that the SDR Rupee rate will be based on the published reference rate.

Reference rate publication sets rupee exchange benchmarks for major currencies and fixes SDR rupee valuation basis.
Publication of the Reserve Bank's reference rate for the US dollar establishes the official rupee benchmark used to derive exchange rates for the euro, pound sterling and the yen through cross currency middle rates, and specifies that the SDR rupee rate will be based on that published reference rate.

Reference rate for US Dollar establishes rupee exchange rates for euro, pound and yen and sets SDR rupee basis.
The publication states the Reserve Bank's reference rate for the US Dollar and its comparison with the previous day, and explains that, using that USD reference rate and middle rates of cross currency quotes, the rupee exchange rates for the euro, pound sterling and Japanese yen are derived; it also states that the SDR rupee rate will be based on the reference rate.

Withdrawal of old currency notes: public urged to deposit or exchange them at banks to complete the currency series transition.
The Reserve Bank requests the public to deposit or exchange pre-2005 design currency notes at bank branches by the final date; such notes remain legal tender and will be accepted at full face value. Banks are the designated channels for deposit or exchange, and the central bank will monitor the process to minimise public inconvenience while completing withdrawal of the older currency series.

Reference rate for US dollar establishes benchmark rupee value and determines euro, pound and yen exchange rates.
Publication of the Reference Rate for the US Dollar by the Reserve Bank of India sets the benchmark rupee value for the specified date and, using that Reference Rate together with the middle rates of cross-currency quotes, the exchange rates of the euro, pound sterling and Japanese yen against the rupee are determined; the SDR Rupee rate will be based on the Reference Rate.

Government securities auction: re issue offered via multiple price bidding with non competitive allocation and when issued trading eligibility.
Re issue auctions for four central government stocks will be conducted by multiple price auction through electronic submission on the designated core banking platform; up to 5% of each notified amount is reserved for eligible individuals and institutions under a non competitive bidding facility. Non competitive bids must be submitted within a specified short window and competitive bids within a longer window on the auction day. Auction results are to be announced on the auction date and payment by successful bidders is due on the stated settlement date. The stocks are eligible for When Issued trading under existing guidelines.

Reference rate for US dollar published, establishing rupee cross rates for euro, pound and yen and SDR Rupee linkage.
The Reserve Bank published the reference rate for the US dollar and, using that rate with middle cross currency quotes, set rupee exchange rates for the euro, pound sterling and Japanese yen; it also states that the SDR Rupee rate will be based on the reference rate.

Fiscal deficit commitment upheld amid constrained revenues and calls for calibrated public investment to revive growth.
The Government reaffirms commitment to meeting its fiscal deficit target despite challenging conditions: slower growth weakening revenues, optimistic budget projections not materializing, legacy expenditures, and the difficulty of consolidating fiscal accounts while the economy operates below potential. Recent policy actions and lower commodity prices have reduced inflation and improved investor sentiment, but sustaining recovery requires reviving private investment, potentially greater public investment, prudent management of capital inflows and exchange-rate effects, and advancing structural reforms such as the Goods and Services Tax and expanded direct transfers.

Reference exchange rate for the US Dollar sets rupee conversion and underpins cross currency rates and SDR Rupee computation.
The Reserve Bank of India published the daily reference exchange rate for the US Dollar, and, using the reference together with middle cross currency quotes, provided corresponding rupee exchange rates for the euro, pound sterling and yen; the release states the SDR Rupee rate will be based on that reference rate.

Reference rate publication sets benchmark for deriving cross currency exchange rates and the SDR Rupee conversion.
The Reserve Bank of India published the Reference Rate for the US Dollar and the preceding day's figure; using the US Dollar reference and middle cross currency quotes the Bank derived exchange rates for the Euro, Pound Sterling and Japanese Yen against the Rupee, and specified that the SDR Rupee rate will be based on the published reference rate.

Reference rate published; exchange rates for euro, pound and yen adjusted against rupee based on cross currency middle rates.
Publication of the Reference Rate for the US dollar establishes the daily benchmark US$-rupee rate and a one day comparator. Using that US dollar reference together with middle rates of cross currency quotes, the rupee exchange rates for the euro, pound sterling and the Japanese yen are derived and published. The SDR rupee rate is specified to be based on the published reference rate.

Reference rate update: RBI sets US dollar benchmark, deriving euro, pound and yen exchange rates and SDR pairing.
Reference rates were published establishing the Reserve Bank's benchmark US dollar Reference Rate for the reporting date and noting the prior day's benchmark; using the US dollar reference together with middle rates of cross-currency quotes the Bank provided derived exchange rates for the euro, pound sterling and Japanese yen against the rupee, and stated that the SDR-Rupee rate will be calculated on the basis of the announced reference rate.

Government securities auction: price-based multiple-price sale with non-competitive bidding and electronic submission, followed by when-issued trading.
Sale by re-issue of specified Central Government stocks through price-based auction using the multiple price method; competitive and non-competitive bids to be submitted electronically on the prescribed core banking auction platform within stipulated windows, with up to a reserved allotment quota for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility; auction results announced on the auction day and payment by successful bidders on the prescribed settlement date; stocks eligible for when-issued trading under applicable when-issued transaction guidelines.

Trade deficit widened as merchandise imports outpaced export growth, while oil imports fell and non oil imports rose.
Merchandise exports in November 2014 rose year-on-year in dollar and rupee terms, while imports grew significantly for the month and modestly cumulatively, producing a larger April-November trade deficit. Oil imports fell year-on-year for the month and cumulatively, whereas non-oil imports increased sharply in November and grew cumulatively; services trade in October 2014 showed a surplus with exports exceeding payments.

Reference rate announcement for the US dollar establishes base rupee rate and instructs derivation of cross currency and SDR rates.
Announcement establishes the Reference Rate for the US dollar against the rupee for 15 December 2014, records the prior-day reference rate for comparison, and directs that the SDR Rupee rate be based on the announced reference rate. It further states that, using the US dollar reference rate and the middle rates of cross currency quotes, derived exchange rates for the euro, pound sterling and yen against the rupee are provided for the same date.