Del. HC: Liquidated Damages Mentioned in Agreement Can’t be Awarded in Absence of Proof of Loss  ||  MP HC: S.375 Marital Sex Exemption Also Provides Exemption Under Section 377 of IPC  ||  SC: SARFAESI Doesn’t Give Any License to Bank Officers to Act Against the Scheme of Law  ||  All. HC: Court Can’t Mechanically Reject Application for Waiving Off Cooling Period u/s 13B of HMA  ||  Kar. HC: Acquittal Order Can’t be Put in Challenge by Stranger to the Case  ||  Kar. HC: Alternate Remedy Can’t be Used as China Wall Against Invocation of Writ Jurisdiction  ||  Bom. HC Upholds Constitutional Validity of Goa’s Green Cess Act  ||  Del. HC: Not Court’s Business to Demonstrate Morality of an Act unless it has Caused Harm  ||  Del. HC: Cost Accountants and Chartered Accountants Not Similarly Placed Under Law  ||  SC: No Party Ought to be Vexed Twice in a Litigation for One and the Same Cause    

Revised - Computation, Dissemination of RBI Reference Rate- (Reserve Bank of India) (21 Apr 2016)

MANU/RPRL/0119/2016

Commercial

The Reserve Bank of India notified revisions to the methodology adopted for computing the daily Reference Rate for spot US Dollar against Indian Rupee. At present the Bank determines the rate through a polling process involving rates obtained from select banks.

Under the revised system, the rate will be computed on the basis of the Volume Weighted Average of the actual market transactions that take place during a randomly selected 15 minute window between 11.30 am and 12.30 pm every weekday. Transaction data from electronic trading platforms will then be utilised for calculating the Reference Rate. Rates for Euro, Pound Sterling and Japanese Yen will continue to be computed by cross-referencing their valuation with the USD-INR.

The new system will come into effect on 2 May 2016.

Tags : REFERENCE RATE   USD   WEIGHTED AVERAGE   LIBOR  

Share :        

Disclaimer | Copyright 2023 - All Rights Reserved