reserve bank of india

India’s central bank said on Tuesday it was permitting the introduction of currency futures in euro, yen, and pound sterling with immediate effect. Prior to this, the Reserve Bank of India had only allowed
currency futures trading in dollar-rupee contracts. (From Reuters)

By James Lamont, South Asia bureau chief

A three month deadline for blueprints to overhaul India’s financial services industry is highly ambitious. Yet that is what Duvvuri Subbarao, India’s central bank governor, has given the boards of the country’s commercial banks to devise strategies to bank millions of unbanked people.