Auction of dated Security
Mar 30, 4:21 AM EST |
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| Auction for Rs. 6,000 croreunder the Market Stabilisation Scheme |
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| 5% of the notified amount of the sale of the stock will be allotted to
eligible individuals and institutions as per the Scheme for Non-Competitive
Bidding Facility in the Auction of Government Securities. The NDS members should submit competitive as well as non-competitive bids in electronic format using Primary Market Operation (PMO) module of NDS. |
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91 day Treasury Bills auction
Mar 30, 4:26 AM EST |
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| The RBI has announced the auction for notified amount of Rs.2000 crore under the MSS. |
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| The auction will be conducted on April 4, 2007 using ""Multiple Price Auction""
method. The allocation to the non-competitive bidders will be outside the notified amount, at the discretion of the Bank.Results will be announced on the same evening. Payments by successful bidders will be on Saturday, April 7, 2007. |
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Market Stabilisation Scheme
Mar 30, 5:36 AM EST |
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| The RBI announced modified arrangements for liquidity management. |
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| The RBI announce every Friday the possibility and the quantum of MSS issuances, covering the Treasury Bills and dated securities under MSS, for the succeeding week.These arrangements would continue until further
notice. |
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Scheme of Transfer of Undertaking
Mar 30, 5:44 AM EST |
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| The Bharat Overseas Bank Ltd branches to operate as Indian Overseas Bank branches from April 3, 2007 |
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| Customers, including depositors of The Bharat Overseas Bank Ltd., will be able to operate their accounts as customers of Indian Overseas Bank with effect from April 3, 2007. All the branches of The Bharat Overseas Bank Ltd will function as branches of Indian Overseas Bank. |
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RBI Announces Monetary Measures
Mar 30, 4:55 AM EST |
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| The role of monetary policy is to maintain stability and so contribute to growth on an enduring basis. |
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| It is important to reinforce the measures already taken for maintaining price stability and anchoring inflation expectations in order to sustain the growth momentum. monetary policy should continue to demonstrate that inflation beyond the tolerance threshold of the Reserve Bank is unacceptable and that the resolve to ensure price stability is always backed by timely and appropriate policy responses.Since the monetary measures that were announced in response to evolving circumstances. |
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RBI to conduct Additional LAF on March 31, 2007
Mar 30, 5:05 AM EST |
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| The RBI would conduct an additional Liquidity Adjustment Facility at the request of the market participants |
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| The additional LAF would provide eligible LAF participants a facility to adjust their liquidity mismatches arising from the special clearing arrangements being made in view of government transactions. |
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Scheme of WMA to State Governments
Mar 30, 5:11 AM EST |
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| State-wise limits of Normal Ways and Means Advances for the year 2006-07 |
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| The Reserve Bank of India has decided to keep these limits unchanged for the year 2007-08. Normal WMA limit would be retained at Rs.9,875 crore in 2007-08. |
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Acceptance of SDLs under Repos
Mar 30, 5:17 AM EST |
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| State Development Loans would be treated as eligible securities from April 3, 2007 |
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| In the Annual Statement on Monetary Policy for the year 2006-07 that the State Development Loans would be treated as eligible securities under the Liquidity Adjustment Facility. |
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Rate for US Dollar and Euro
Mar 30, 5:21 AM EST |
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| RBI Reference Rate for US Dollar and Euro |
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| The Reserve Bank of India’s Reference Rate for the US dollar is Rs. 43.59 and
the Reference Rate for Euro is Rs. 58.14 on March 30, 2007. The corresponding rates for the previous day (March 29, 2007) were Rs. 43.47 and Rs. 57.89 respectively. |
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HDFC Bank Limited authorised as Primary Dealer
Mar 30, 5:26 AM EST |
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| HDFC Bank Limited to undertake Primary Dealer business with effect from Monday, April 02, 2007. |
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| The Reserve Bank of India had permitted structure of Primary Dealership business would be expanded to include banks,which fulfill certain minimum eligibility criteria. |
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