The Government of India today approved the extension of the term of Dr. D. Subbarao as the Governor of the Reserve Bank of India. Dr. Subbarao’s term has been extended for a period of two years with effect from September 5, 2011 up to September 4, 2013.

The Results of the auctions of 10-year State Development Loans, 2021 for Nine State Governments held on August 9, 2011.

The Reserve Bank of India and the Qatar Financial Centre (QFC) Regulatory Authority, on August 4, 2011 signed a Memorandum of Understanding (MoU) to promote greater co-operation and sharing of supervisory information between the two regulators. The MoU was signed at the Reserve Bank’s Central Office Building in Mumbai by Shri P. Vijaya Bhaskar, Executive Director and Mr. Michael Ryan, QFC Regulatory Authority Deputy Chief Executive Officer.

The rate of interest on the Floating Rate Bonds, 2015(II) [FRB, 2015(II)] applicable for the year (August 10, 2011 to August 9, 2012) shall be 8.82 per cent per annum.