Financial institutions must identify, apply due diligence to, and report reportable accounts under FATCA/CRS using Form 61B.
Guidance implements Rules 114F-114H and Form 61B requiring Indian resident financial institutions and in India branches to identify, apply prescribed due diligence to, and electronically report information on Reportable Accounts-accounts held by reportable persons or by Passive NFEs with reportable controlling persons-under FATCA/IGA and the CRS. It defines RFIs and financial account categories, lists excluded accounts, prescribes separate due diligence for pre existing and new individual and entity accounts with thresholds and timelines, mandates collection of specified identifying, account and income data, requires online filing of Form 61B, and prescribes penalties and regulator oversight; RFIs with U.S. accounts must obtain a GIIN where applicable.

Mining sector reform drives international outreach to attract exploration investment and technology collaboration through bilateral cooperation.
A ministerial delegation will attend an international mining exhibition and undertake bilateral meetings and site visits to present India's mining regulatory reforms, promote exploration investment, and encourage technology transfer. Key operational measures include organising an India Day technical session, negotiating a roadmap for cooperation between geological agencies, releasing an exploration e-book for stakeholders, engaging global mining firms to foster investment and joint ventures, and visiting mines to assess and share best practices. These actions aim to attract foreign exploration companies and advanced technologies by showcasing the reformed regulatory framework.

Neutrality of arbitrators strengthened by mandatory disclosure and ineligibility, with tighter timelines and narrowed public policy challenges.
Amendments require written disclosure and ineligibility for arbitrators with specified relationships to ensure neutrality; establish firm timelines for awards with limited party extension and court extension only for sufficient cause; provide a fast track procedure with shorter award period; narrow public policy as ground for challenge to fraud, corruption, conflict with fundamental policy or basic notions of morality; mandate disposal of challenges within one year; prevent automatic stay on filing; require expeditious appointment of arbitrators; create a comprehensive costs regime; and empower tribunals to grant court-equivalent interim measures.

Extension of Pay Commission term approved to allow additional time for completion after extensive stakeholder consultations and workload.
The Union Cabinet authorised an extension of the term of the 7th Central Pay Commission to allow completion of its mandate, responding to the Commission's request prompted by substantial workload and intensive stakeholder consultations; the Commission had been constituted on 28 February 2014 and was initially required to submit recommendations within eighteen months.

Decentralized skill development: empower State Skill Development Missions to boost outreach, inclusion and industry-linked trainer capacity.
The Sub-Group recommended strengthening State Skill Development Missions to decentralize training and improve outreach, prioritise participation by women and disadvantaged groups, provide credit and market linkages to promote entrepreneurial development, and address trainer shortages by engaging industry and national institutions; the final Report will be submitted to the Prime Minister within a fortnight.

Smart Cities Mission encourages stakeholder workshop to create shared definitions and implementation frameworks for sustainable urban development.
A policy workshop will bring central and state agencies, Urban Local Bodies, experts and stakeholders together with a knowledge partner to develop a shared understanding of the Smart Cities Mission, reconcile differing definitions and approaches, and generate practical guidance on project development and implementation processes to enhance urban quality of life and sustainability.

Association address updation: submit updated contact details to enable departmental correspondence and inclusion in policy consultations.
The Consumer Industry Section of the Department of Industrial Policy & Promotion requests that manufacturers' Associations/Federations representing the listed consumer-item sectors send their name and updated postal address, telephone, fax and email to the Department at the specified office and official to ensure delivery of departmental correspondence and inclusion in future policy consultations.

Contribution flexibility expands pension accessibility; periodic payments allowed and exit refunds limited to subscriber contributions.
Subscribers may opt for monthly, quarterly or half yearly contributions. Accounts will not be deactivated or closed until the account balance of self contributions minus maintenance charges becomes zero. Delayed payment penalty is simplified to a flat per month amount per delayed monthly contribution. Voluntary premature exit before age sixty is permitted only with refund of the subscriber's own contributions plus net actual interest after charges; Government co contribution and interest on it will not be returned.

Undisclosed foreign income and assets challan requires PAN, separate company/non company payment codes, and bank acknowledgement details.
Payment for undisclosed foreign income and assets must be made on the prescribed challan with separate minor head codes for companies and non companies, mandatory Permanent Account Number, itemised amount fields (income tax, interest, penalty, others), payer and bank particulars, and a taxpayers' counterfoil; bank acknowledgment must record BSR code, deposit date and challan serial number.

Pharmaceutical export policy convergence urged to tackle domestic and international barriers, with a high-level think tank to coordinate.
Challenges confronting Indian pharmaceutical exports were reviewed, identifying domestic and international barriers and fragmented departmental programmes; the meeting emphasized the need for Policy Convergence across regulatory, scientific and trade instruments to remove export bottlenecks. A high level Think Tank of industry, government and scientific stakeholders was proposed to share developments, diagnose impediments and formulate proposals, and the Minister directed officials to expedite proposals with government support to realize the sector's export potential.

Social security enrolment drive expands access to PMSBY and PMJJBY via gift cheques and deposit schemes.
The Suraksha Bandhan drive facilitates enrolment in PMSBY and PMJJBY by extending the enrolment period and waiving PMJJBY health certificate requirements for timely applicants, while enabling premium payment via a Jeevan Suraksha Gift Cheque and two deposit schemes that reserve specified sums for upcoming premium payments and place remaining funds in fixed deposits for future premium funding.

Wholesale Price Index signals falling inflation as monthly declines in primary articles and fuel reduce the overall WPI.
Wholesale Price Index (base 2004 05=100) for July 2015 fell to a provisional 177.5, producing a year on year WPI inflation rate of -4.05%. The decline reflects monthly drops in Primary Articles (notably food and non food agricultural items) and Fuel & Power, while Minerals rose. Manufactured Products showed a modest fall with varied subgroup movements. Annexures provide weighted indices, month on month, build up and year on year rates and a six month trend for key items.

Strategic and commercial dialogue coordinates joint working groups to advance trade, standards cooperation and investment promotion.
Preparatory inter ministerial meetings planned the inaugural ministerial Strategic and Commercial Dialogue through six Joint Working Groups addressing infrastructure, services, standards, technical textiles/guar gum, business climate, and innovation. Discussions prioritized agenda setting, side events including an India US CEOs Forum, and sequencing deliverables. Key operational themes were technical cooperation between regulators, procedural and product specific conformity assessment issues, and sharing Concept Notes and concept papers on standards, services, and technical textiles. Parties agreed to continue videoconferences to finalize deliverables and pursue joint industry reports and coordinated releases tied to the Dialogue.

Industrial production growth led by manufacturing signals strengthening economy amid lower inflation and improved indirect tax receipts.
IIP for June 2015 recorded its strongest growth since February 2015, driven by manufacturing gains while mining and electricity lagged; manufacturing expansion was led by consumer durables and basic goods, with noted improvements in fertilizers, steel, molasses and bagasse, and these production trends coincided with lower inflation and increased indirect tax receipts.

Repayment at par of government stock: payment by electronic credit or pay order upon submission of bank mandate in advance.
Government stock is repayable at par on maturity with no further interest; maturity proceeds to registered holders held in SGL/CSGL or by stock certificate will be paid by electronic credit to the holder's bank account or by pay order containing bank particulars, provided those particulars are submitted in advance. Absent such mandates, holders must tender discharged securities at designated paying offices within the prescribed advance period to facilitate repayment.

Domestic content requirement in solar procurement challenged as WTO-inconsistent; India invokes Article III exemptions to defend programme.
A WTO dispute challenges the Jawaharlal Nehru National Solar Mission's domestic content requirement as inconsistent with GATT 1994 and the TRIMs Agreement, while India defends the measure under Article III:8(a) and general exemption provisions. The European Union has intervened as a third party supporting the complainant's position. The poultry imports dispute is distinct and not relevant to the solar procurement dispute.

Digital clearance monitoring: e-Nivesh streamlines processing of numerous central approvals, with most approvals digitized and some excluded.
Introduction of e-Nivesh establishes a centralized digital monitoring mechanism for processing multiple central government clearances required by investors. Most listed clearances have been digitized and placed on the platform; certain clearances tied to defence and internal security are excluded from digitization for security reasons, while digitization of remaining items is underway. An additional set of clearances is hosted on the Department of Industrial Policy and Promotion portal.

Financing agreement secures international support for cyclone risk mitigation, enhancing early warning systems and coastal resilience across states.
The Financing Agreement provides World Bank (IDA) assistance for NCRMP-II to reduce vulnerability of coastal communities in six states by financing cyclone risk mitigation infrastructure, early warning dissemination systems, and technical assistance to strengthen multi-hazard risk management. The project has four components-Early Warning Dissemination Systems; Cyclone Risk Mitigation Infrastructure; Technical Assistance for Multi Hazard Risk Management; and Project Management and Implementation Support-and is implemented by the Ministry of Home Affairs through the National Disaster Management Authority with execution by state disaster management authorities.

Cyclone risk mitigation financing expands support to coastal communities, enhancing shelters, early warning and state DRM capacity.
A financing agreement between the Government of India and the World Bank provides additional funds for the National Cyclone Risk Mitigation Project-I to reduce coastal community vulnerability in Andhra Pradesh and Odisha by extending coverage to high-risk areas. The funding supports four components: Early Warning Dissemination System and community capacity building; Cyclone Risk Mitigation Infrastructure; Technical Assistance for national and state disaster risk management capacity building; and Project Management and Implementation Support, implemented through central and state disaster management authorities.

Social security enrolment drive promotes simplified registration, gift cheques and deposit schemes to expand insurance and pension coverage.
A mission-mode "Suraksha Bandhan" enrolment drive deploys participating banks and insurers to enrol eligible account holders into Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana, using outreach, gift cheques to prepay one-year premiums, and two deposit schemes that earmark portions for premium payments while placing remainder funds in fixed deposits to fund future subscriptions from interest.