The amendment directions, issued by the Reserve Bank of India (RBI) on March 07, 2011, permitting trading of Interest Rate Futures (IRFs) on 91-Day Treasury Bills specifies that the final settlement price of the futures contract shall be based on the weighted average price/yield obtained in the weekly auction of the 91-Day Treasury Bills on the date of expiry of the contract.
The results of the RBI Repo/Reverse Repo auctions held on March 17, 2011 are
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Saptagiri Gramin Bank, Chittoor, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on Know Your Customer Guidelines.
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.24 and the Reference Rate for Euro is ` 63.00 on March 17, 2011. The corresponding rates for the previous day (March 16, 2011) were ` 45.18 and ` 63.13 respectively. Based on the Reference Rate for US dollar and middle rates of the cross currency quotes at 12 noon, the exchange rates of GBP and Japanese Yen against the Rupee are: