Central government fiscal receipts and expenditures summarized, showing receipt composition and key expenditure drivers for the year to date.
The consolidated accounts to September 2024 show receipts of Rs.16,36,974 crore comprising Tax Revenue (Net to Centre), Non Tax Revenue and Non Debt Capital Receipts, with Rs.5,44,803 crore transferred as Devolution of Share of Taxes to States. Total Expenditure is Rs.21,11,494 crore, split into Revenue Expenditure (Rs.16,96,528 crore) and Capital Expenditure (Rs.4,14,966 crore); principal revenue components are Interest Payments (Rs.5,15,010 crore) and Major Subsidies (Rs.2,14,658 crore).

Loan limit expansion under Pradhan Mantri Mudra Yojana broadens collateral-free credit access and adds Tarun Plus category.
The regulatory change increases the PMMY collateral free lending ceiling, adds a new Tarun Plus category for previously repaid Tarun borrowers, and extends guarantee coverage from the Credit Guarantee Fund for Micro Units to support larger unsecured loans through Member Lending Institutions across manufacturing, trading, services and allied agricultural activities, while maintaining supporting delivery mechanisms such as the MUDRA Card, MUDRA MITRA app, simplified application processes and targeted interest subvention.

Auction of government securities: re-issue of two dated bonds via price-based multiple-price auction with non-competitive allocation.
Government of India announced re-issues of two dated Government Securities by price-based multiple-price auction with an option to retain additional subscription for each security. Auctions will be conducted on the Reserve Bank of India's E Kuber system with specified windows for non-competitive and competitive bids; up to 5% of each notified amount is reserved under the Non-Competitive Bidding Facility. Results and payment/settlement follow the announced timetable. The securities are eligible for When Issued trading under RBI guidelines.

Creation of Chief General Manager posts enhances senior management oversight and targeted supervision across nationalised banks.
Approval to create and increase Chief General Manager (CGM) posts across nationalised banks raises total CGMs from eighty to one hundred forty-four, applies a ratio of one CGM per four GMs and produces proportional increases in GM, DGM and AGM posts. The expansion is intended to strengthen senior management oversight, improve control, supervision, asset management and operational efficiency, and provide focused monitoring of digitalisation, cyber security, fin tech, risk and compliance and credit verticals.

Financial stability frameworks must combine macroprudential tools, supervisory coordination, and data analytics for resilient banking systems.
Central banks must prioritise financial stability by proactively identifying systemic risks driven by faster digital bank runs, third party technology dependence, cybersecurity threats, and climate risk. A multi-tool approach-combining monetary, regulatory and supervisory instruments, macroprudential policy, lender-of-last-resort functions, inter-agency coordination and disclosure through Financial Stability Reports using stress tests and contagion analysis-supports resilience. Enhanced international cooperation, a risk-focused through-the-cycle supervisory model, and a comprehensive data analytics ecosystem are necessary to strengthen crisis preparedness while balancing resilience and innovation.

Government securities auction using multiple-price method announced; non-competitive facility, specified bidding windows, and when issued trading allowed.
Re-issue auction of three Government of India securities will be conducted via price-based multiple price method with notified nominal amounts and an option for additional retention; up to five percent of each issue is allocable to eligible applicants under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on RBI's E-Kuber within prescribed windows on the auction date. Results will be announced on the auction date and payment by successful bidders will occur on the scheduled settlement date. The securities are eligible for When Issued trading per RBI guidelines.

Financial stability must be integrated into central bank policy as debt dynamics and technology reshape systemic risks.
Central banks must reassess mandates and tools as post pandemic debt, geopolitical fragmentation and technological advances alter policy space. Monetary policy faces distributional limits and international spillovers that constrain emerging market responses; financial stability risks arise from prolonged low rates, private credit expansion, higher debt servicing and interconnected exposures; and digital innovations - including CBDCs and digital public infrastructure - offer efficiency gains for cross border payments but require interoperability, standards harmonisation and safeguards against AI, concentration and cyber risks.

Internship eligibility and portal matching define the PM Internship Scheme, with stipend DBT and CSR-based partner participation.
The Prime Minister's Internship Scheme establishes a portal-managed internship programme distinct from other skill initiatives, offering a 12-month pilot for Indian nationals aged 21-24 who are not in full-time work or study. Eligibility is defined by minimum educational qualifications while specified premier-institution graduates, professional-degree holders, concurrent government trainees, and candidates failing income or family-employee criteria are excluded. Partner companies are chosen principally on CSR expenditure or by Ministry approval; internships include a government-administered stipend via Direct Benefit Transfer, an employer contingent contribution, a joining grant, and insurance coverage, with portal-based shortlisting and company-led final selection emphasizing social inclusion.

Merger control approval: dual intra group acquisitions consolidate ownership in a credit solutions firm and an asset reconstruction company.
Approval of two simultaneous intra group acquisitions: JM Financial Limited's acquisition of 42.99% of JM Financial Credit Solutions Limited, and JM Financial Credit Solutions Limited's acquisition of 71.79% of JM Financial Asset Reconstruction Company Limited, restructuring ownership within the JM Financial group. JM Financial Limited is the listed holding and operating company providing diversified financial services; JM Financial Credit Solutions Limited is a systemically important NBFC focused on wholesale lending; JM Financial Asset Reconstruction Company Limited is an RBI registered asset reconstruction company engaged in stressed asset acquisition and resolution.

Monetary policy stance shift to neutral while keeping policy repo rate unchanged to focus on inflation alignment and growth.
The Monetary Policy Committee maintained the policy repo rate and related facility rates and changed its stance to neutral, focusing on a durable alignment of CPI inflation with the medium term target while supporting growth. The MPC noted resilient domestic growth driven by consumption and investment, identified transient upside risks to inflation from base effects and commodity prices, and emphasised vigilance amid geopolitical and weather uncertainties. Voting recorded a majority for holding rates and adopting neutral stance, with one dissent preferring a rate reduction.

Auction of government securities: re-issue of two dated bonds via price-based multiple-price auction with non-competitive allocation and when-issued trading eligibility.
Re-issue auction announced for 7.04% GS 2029 and 7.34% GS 2064 via price-based multiple price method; Government may retain additional subscriptions. Up to 5% of each notified amount is reserved under the Non-Competitive Bidding Facility for eligible individuals and institutions. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within prescribed time windows. Auction results and payment dates are scheduled, and the securities are eligible for When Issued trading per RBI guidelines.

RBI draft circular tightens bank business forms and sets prudential investment limits, approval requirements, and ICAAP capital duties.
The RBI draft circular revises permissible forms of business and prudential investment rules: core banking functions must be departmental, ring fenced activities must be undertaken through a single group entity, and prior board, risk committee and Reserve Bank approvals are required for certain activities and new group arrangements. It prescribes investment ceilings tied to paid up capital and reserves, caps on shareholdings in NBFCs, non financial companies, ARCs and AIFs, conditions and exemptions to prior approval for investments below specified thresholds, mandatory breach reporting, and ICAAP based capital assessment and group capital management obligations.

Rural credit priority: RRBs urged to expand agriculture, allied and MSME lending and deepen financial inclusion across the North East.
The review directed RRBs, with sponsor-bank and NABARD support, to increase credit under flagship government schemes and prioritise lending for agriculture, horticulture and allied activities; to promote Farmer Producer Organizations; to hold special State Level Bankers' Committee meetings to tap horticulture, floriculture, sericulture and animal husbandry potential and resolve land record issues for agri credit; to expand credit for agri processing; to ensure PMJDY coverage; to consult with DoNER and NEC on credit for ODOP vendors; to devise MSME products tailored to local needs; and to open new banking touchpoints in underbanked areas.