The Reserve Bank of India's longer-term dollar/rupee buy-sell swap witnessed robust demand with the auction drawing bids 1.6 times the $10 billion notified amount. The central bank accepted 161 bids at the auction with the premium cut-off set at 6.

The Reserve Bank of India (RBI) has introduced measures to enhance the operational flexibility of Urban Cooperative Banks (UCBs), allowing them greater freedom in lending without compromising regulatory objectives.

RBI has revised some lending norms for urban co-operative banks, including expanding the definition of small-value loans, hiking real estate exposure limits and provisioning requirements for investment in Security Receipts.

India's central bank on Monday revised certain norms for urban co-operative banks (UCBs), with a view of providing them with greater operational flexibility, while meeting regulatory objectives.