Chronology Of Events

Consolidating the Gains - 2000 Onwards

Date Event
Jun 2000 Stock Index Futures introduced by as an exchange traded derivative.
Mar 2001 Kissan Credit Cards introduced.
19 Apr 2001 Effective week commencing August 11, inter-bank term liabilities greater than 15 days maturity exempt from CRR.
19 Apr 2001 Banks allowed to formulate special Fixed Deposit Schemes for senior citizen offering higher rates of interest.
30 Apr 2001 Clearing Corporation of India established to address the need for an integrated clearing and settlement system across different markets, viz., government securities, forex and money markets. Commenced operations wef February 2002.
Jun 2001 RBI issues guidelines for internet banking heralding in a new era in banking.
21 Nov 2001 Floating Rate Bonds auctioned for the first time.
1 Jan 2002 RBI commenced announcing the reference rate for Euro, which replaced the currencies of Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Portugal, Spain and The Netherlands.
21 Jun 2002 The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance came into force, paving the way for setting up asset reconstruction companies and for faster recovery of money by banks and financial institutions.
7 Sep 2002 Schemes to open Offshore Banking Units in Special Economic Zones by banks introduced. These units would be virtually foreign branches of Indian Banks but located in India.
11 Dec 2002 Auction format of 91 day Treasury Bills changed from uniform price auction to the multiple price auction method
Jan 2003 Select stock exchanges commence retail trading in Government securities.
Apr 2003 Risk based supervision of Banks introduced.
3 Jun 2003 Guidelines for exchange traded interest rate derivatives issued.
7 Aug 2003 Clearing Corporation of India launches its forex clearing system FX CLEAR
6 Sep 2003 Y V Reddy assumes office as Governor