Microfinance regulation: harmonise rules across lenders to cap household repayment and mandate transparent pricing and collateral-free status.
The proposed framework seeks to harmonise microfinance regulation across all lenders by prescribing a common definition of microfinance loans, linking loan amounts to household income so that total interest and principal payments on all household loans do not exceed 50% of household income, extending collateral-free status to all microfinance lenders, and replacing prescriptive interest ceilings with a requirement for board approved all inclusive interest rate policies and transparent pricing disclosures.

Government securities auction procedures set; uniform and multiple price methods with non-competitive allocation and when-issued trading eligibility.
The Government of India announced re-issues of three central government securities to be auctioned by the Reserve Bank of India's Mumbai office using uniform price method for two securities and multiple price method for the third, with a government option to retain additional subscriptions. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the RBI's E-Kuber system within prescribed time windows; auction results, payment schedule, and eligibility for when issued trading are specified.

Audit independence is vital for financial stability and public accountability, demanding competence, ethics and robust reporting.
The address stresses audit as an essential assurance mechanism for financial stability and public accountability, highlighting audit independence, auditor competence and ethics as critical to resolving agency problems and protecting stakeholder interests. It identifies the CAG's role in public sector financial, compliance and performance audits, outlines RBI's supervisory concerns that auditors must report material issues and rigorously test management judgements (including credit loss models, related party transactions and IT obfuscated transactions), and advocates adoption of technological audit tools alongside sustained professional judgment and strengthened governance frameworks.

Scale-based regulation for NBFCs to align supervisory intensity with size, interconnectedness and systemic risk.
Adopt a scale-based regulatory framework categorising NBFCs into Base, Middle, Upper, and a discretionary Top Layer, with regulatory intensity calibrated to size, activity and risk. Base Layer continues light-touch regulation with greater disclosures; Middle Layer addresses bank-NBFC arbitrage and tightens norms for deposit-taking and systemically important NBFCs; Upper Layer targets a limited set of highly interconnected, complex NBFCs for enhanced prudential requirements, intensive supervision and mandatory listing; Top Layer would attract bespoke measures for entities posing outsized systemic risk.

Sovereign Gold Bond pricing: subscription window set and online digital payment discount reduces issue price.
Issuance terms fix the nominal value per gram by reference to the simple average of closing prices for 999 purity gold for the last three business days preceding the subscription period. Investors applying online and paying through digital modes receive a per gram discount on the nominal value, producing a reduced issue price for such applications.

Basel III capital framework implementation for AIFIs consolidates prudential norms and introduces investment concentration limits for institutions.
The draft Directions apply the Basel III capital framework to the four specified AIFIs and consolidate and modify existing instructions on exposure norms, classification, valuation and operation of investment portfolios and resource raising norms, while introducing limits on investments in subsidiaries, financial services companies and non financial services companies.

Auction of government securities: re-issues across maturities using uniform and multiple price methods with non-competitive quota.
Re-issue auctions of multiple Central Government securities are conducted by price-based allocation, using uniform price methods for most securities and a multiple price method for a long-dated security; the Government may retain additional subscriptions up to a cap. Bids must be submitted electronically on the designated core banking/electronic bidding platform within prescribed competitive and non-competitive windows. Up to a specified percentage of each notified amount is reserved for eligible individuals and institutions under a non-competitive bidding facility. Auction results and settlement dates are fixed and securities are eligible for "When Issued" trading under existing guidelines.

Capital account convertibility: increased non-resident access to debt alters risk management and requires calibrated capital flow and macroprudential measures.
Capital account convertibility is the progressive liberalisation enabling conversion of domestic and foreign financial assets; its expansion requires balancing the benefits of broader investor access and improved liquidity against risks such as sudden reversals, exchange volatility and asset bubbles. Policy responses emphasise first strengthening macro fundamentals and market infrastructure, then deploying capital flow measures and macroprudential tools-capital, liquidity and borrower-based-to manage flow volume, composition and systemic exposure. India's calibrated liberalisation includes near-unrestricted FDI, staged FPI access with caps on debt, ECB rules for medium-to-long tenor corporate borrowing, and emerging moves like the Fully Accessible Route and deeper onshore-offshore market integration that demand careful sequencing and information flows.

Government securities auction using uniform and multiple price methods with non-competitive facility and electronic bidding.
The Government announced re-issues of three central Government securities to be sold by auction: two via the uniform price method and one via the multiple price method, with the government retaining an option to accept additional subscriptions. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding. Bids-competitive and non-competitive-must be submitted electronically on the RBI's E Kuber system within specified time windows on the auction date; results and settlement dates are pre-announced. The securities are eligible for When Issued trading under RBI guidelines.

Regulatory Sandbox access for FinTech hackathon finalists enables live experimentation with partner banks under IFSCA framework
IFSCA launched I Sprint'21 with Sprint01: BankTech to source banking sector FinTech solutions for GIFT IFSC units; finalists are granted direct entry into the Regulatory Sandbox introduced in October 2020 and will work directly with partner banks who provide APIs, mentoring and implementation support to enable live environment experimentation under limited customer and time constraints.

Government securities auction using uniform and multiple price methods with reserved non-competitive allotment and E Kuber bidding.
Re-issue auction of four central government securities will be conducted by the Reserve Bank of India using price-based auctions (uniform price for three issues; multiple price for one), with the Government able to retain additional subscription. Up to five percent of each notified issue is reserved for eligible participants under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the RBI E-Kuber system within specified windows; auction results, payment, and eligibility for When Issued trading follow RBI operational guidelines.

National Pension System expansion seeks broader enrollment through coordinated awareness campaigns and digital onboarding across distribution channels.
PFRDA observed National Pension System Diwas to increase pension awareness and coverage by coordinating nationwide awareness events through registered intermediaries and distribution channels (banks, NBFCs, fintech) that enabled digital NPS enrolments; the regulator highlighted subscriber growth, expanding corpus and reaffirmed its statutory role in promoting and ensuring orderly growth of the National Pension System and related pension schemes.