With a view to strengthening the consultative process in monetary policy, the Reserve Bank of India had constituted a Technical Advisory Committee on Monetary Policy in June, 2009.  The tenure of the Committee was up to June 30, 2011. However, it was decided to continue with the Committee up to the First Quarter Review of July 2011.

In the auctions of the securities conducted on August 4, 2011 for Additional Competitive Underwriting (ACU), the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.4163 and the Reference Rate for Euro is ` 63.5501 on August 4, 2011. The corresponding rates for the previous day (August 3, 2011) were ` 44.3795 and ` 62.8711 respectively. Based on the Reference Rate for the US dollar and middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below:

The results of the RBI Repo/Reverse Repo auctions held on August 4, 2011 are: