Central bank digital currency pilot expands wholesale settlement efficiency; retail pilots to follow in closed user groups.
The Reserve Bank of India is initiating a Central Bank Digital Currency wholesale pilot to settle secondary market transactions in government securities through nine selected banks; settlement in central bank money aims to improve inter bank market efficiency and reduce reliance on settlement guarantees or collateral. A retail pilot in closed user groups will follow, and findings will guide future pilots for other wholesale transactions and cross border payments.

Government securities auction re-issues use uniform and multiple price methods with non competitive allocation and e bidding schedule.
Re-issue auctions for four Government securities are announced, with three to be offered via the uniform price method and one via the multiple price method; the government may retain additional subscriptions. Up to five percent of each issue is reserved under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the central bidding platform within prescribed time windows on the auction date. Auction results and payment dates are specified, and the securities are eligible for when issued trading under existing guidelines.

Government receipts and expenditure reporting details composition of revenues, transfers to states and split between revenue and capital spending.
Government of India monthly accounts up to September 2022 present central receipts composed of Tax Revenue, Non Tax Revenue, and Non Debt Capital Receipts (loan recoveries and miscellaneous capital receipts), note substantial devolution of tax share to states, and record total expenditure split between Revenue Expenditure (including Interest Payments and Major Subsidies) and Capital Expenditure.

Information technology governance: draft master direction placed for public consultation, feedback to determine final consolidated standards.
The Reserve Bank has placed a draft Master Direction on Information Technology Governance, risk, controls and assurance practices covering governance, risk and control frameworks, assurance and business continuity for regulated entities, and invited feedback from Regulated Entities and stakeholders by the prescribed deadline; the Bank will consider submissions before issuing the final consolidated Master Direction.

DigiLocker integration enables NPS account opening and address updates using driving license with subscriber consent.
CRAs have integrated with DigiLocker to enable opening NPS accounts and updating address details using Driving Licenses issued in DigiLocker. The process redirects applicants to DigiLocker for login and consent, allows CRA access to issued documents, auto-populates demographic information and photo from the Driving License, and then requires PAN, bank, nomination and scheme details to complete account opening or address update via Protean CRA.

Government securities auction announced re-issues with mixed uniform and multiple price methods and non-competitive allocation.
Announcement of re-issues of four central government securities offered via price-based auctions (three by uniform price method, one by multiple price method) with a government option to accept additional subscriptions; up to a fixed proportion of each issue reserved for eligible persons under the non-competitive bidding facility; competitive and non-competitive bids to be submitted electronically on E Kuber within prescribed time windows; auction results and payment dates specified; securities eligible for "When Issued" trading under the Reserve Bank's guidelines.

Credit Guarantee Scheme for Startups enables collateral free lending through transaction and umbrella guarantees, mobilising venture debt support.
The Department for Promotion of Industry and Internal Trade has established the Credit Guarantee Scheme for Startups (CGSS) to provide transaction based guarantees for individual startup loans and umbrella based guarantees for Venture Debt Funds, with capped per borrower exposure and graduated guarantee cover; governance will include a Management Committee, a Risk Evaluation Committee, and operational management by the National Credit Guarantee Trustee Company Limited to enable collateral free lending to DPIIT recognised startups.

Government securities auction re-issue: price and multiple price methods with non-competitive bidding and electronic submissions.
Sale by re-issue of three Government securities will use price based auctions (uniform price for two tenors, multiple price for one tenor), with an option for the Government to retain additional subscription. Up to 5% of each notified amount is reserved for the Non-Competitive Bidding Facility for eligible individuals and institutions. Competitive and non-competitive bids must be submitted electronically within prescribed time windows on the auction date, auction results and settlement dates are specified, and the securities are eligible for When Issued trading under existing guidelines.