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  1. The Reserve Bank of India compiles on a daily basis and publishes reference rates for Spot USD/INR and Spot EUR/INR. The rates are arrived at by averaging the mean of the bid / offer rates polled from a few select banks around 12 noon every week day (excluding Saturdays). The contributing banks are selected on the basis of their standing, market-share in the domestic foreign exchange market and representative character. The Reserve Bank periodically reviews the procedure for selecting the banks and the methodology of polling so as to ensure that the reference rate is a true reflection of the market activity.



  2. Unless your written english improves considerably, may i suggest you not waste your time applying to a UK branch.
    .


  3. No, MBA is not a necessary qualification for IDBI bank or any other bank.
    Graduation with 55% marks is necessary for IDBI.