Union government fiscal review reports receipts composition, state devolution and the split between revenue and capital expenditure.
Monthly consolidation to November 2019 reports total receipts comprising tax revenue (net), non tax revenue and non debt capital receipts (loan recoveries and disinvestment), records devolution of tax shares to states, and presents total expenditure split into revenue and capital accounts with interest payments and major subsidies identified as principal components of revenue expenditure.

Government securities auction re-issue via multiple-price method with non-competitive allotment and electronic bid submission required.
The Government announced re-issues of several Government Stocks to be sold by price-based, multiple-price auction conducted by the Reserve Bank of India, with specified notified nominal amounts and a retained subscription option subject to the total notified limit. Up to a reserved percentage of each notified amount is allotted under the Non-Competitive Bidding Facility to eligible individuals and institutions. Both competitive and non-competitive bids must be submitted electronically on the RBI's E-Kuber system within prescribed time windows; results will be announced on the auction date and successful bidders must remit payment on the prescribed settlement date. The Stocks qualify for When Issued trading per RBI guidelines.

Exposure limits for UCBs tightened: reduced single and group caps and increased priority sector lending target enforced.
Prudential exposure norms for primary urban co-operative banks are tightened by lowering single-borrower and group exposure limits relative to Tier I capital for all fresh exposures, requiring reduction of existing excess exposures by the compliance date while allowing run-off of existing term and non-fund facilities without fresh exposure. UCBs must also ensure at least half their loan portfolio consists of smaller-ticket loans and meet an increased Priority Sector Lending target via a phased glide path, with Board-approved Action Plans and monitoring mechanisms to ensure compliance.

Auction of government securities using multiple price method with non competitive bidding facility and electronic bid submission.
Announcement of re issue auctions for multiple Central Government securities conducted by the Reserve Bank of India using the multiple price method, with both competitive and non competitive bidding available; a portion of each notified amount is reserved for eligible individuals and institutions under the non competitive scheme. Bids must be submitted electronically via the RBI Core Banking Solution (E Kuber) within prescribed time windows; the announcement specifies the option to accept additional subscriptions within an overall cap. The securities are eligible for "When Issued" trading under existing RBI guidelines.

Automatic approval under Green Channel: notified combinations are deemed approved upon filing, streamlining merger clearance process.
Under the Green Channel mechanism, combinations notified under sub section (2) of Section 6 of the Competition Act read with the Combination Regulations are deemed approved upon filing and acknowledgement, eliminating the need for further substantive merger review and thereby reducing time and compliance costs for notified transactions.

Payment integration enables GeM users access to pooled accounts, guarantees and financing linked to seller performance.
GeM executed MoUs with banks to integrate services enabling transfers via GeM Pool Accounts, electronic advising of Performance Bank Guarantees and Earnest Money Deposit management, advancing a paperless, contactless procurement system. Concurrently, GeM is arranging bill discounting and working capital finance tied to seller performance and contemplating an EMD pool account to simplify EMD compliance and improve MSME access to credit.

Government securities auction using multiple price method with non-competitive bidding and when-issued trading eligibility.
Price-based re-issue auctions for specified Government Stocks will be conducted by the Reserve Bank of India using the multiple price method, with the Government retaining an option to accept additional subscriptions subject to an overall ceiling. Up to five per cent of each notified amount is reserved for eligible individuals and institutions under the non-competitive bidding scheme. Competitive and non-competitive bids must be submitted electronically via E-Kuber within prescribed time windows, and the re-issued stocks will be eligible for "When Issued" trading under RBI guidelines.

Increase in authorised capital enables expanded infrastructure financing through government equity support and recapitalisation bonds to bolster lending.
The Cabinet approved additional equity support to IIFCL to be provided via budgetary allocations and/or recapitalisation bonds, with timing and terms to be decided by the Department of Economic Affairs, and authorised an increase in IIFCL's authorised capital to create borrowing headroom for financing large infrastructure projects.

Partial Credit Guarantee Scheme enables banks to buy high-rated NBFC/HFC asset pools, backed by government first-loss support.
The Government approved the Partial Credit Guarantee Scheme to enable Public Sector Banks to purchase high-rated pooled assets from financially sound NBFCs/HFCs, providing a one-time partial government guarantee that covers first-loss on purchased asset pools. Eligibility is confined to NBFCs/HFCs that may have slipped into SMA-0 prior to 1.8.2018, excludes SMA-1/2, requires pool ratings of BBB+ or higher, and operates within a time-limited window with limited extension powers delegated to the Finance Minister.

Government securities re-issue auction using multiple-price method with non-competitive allotment and electronic bidding procedures and specified timing and payment schedule.
Sale by re-issue of multiple Central Government stocks is announced through price-based auctions using the multiple-price method, with the issuer permitted limited additional retention of subscriptions. Up to five percent of each notified amount is reserved for eligible investors under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically within prescribed windows; auction results, allotment and payment follow a specified timetable. The stocks are eligible for When Issued trading under existing guidelines.

Investor protection rules amended: digitised faceless processing simplifies refund claims and enforces time bound compliance.
Amendments to the IEPF (Accounting, Audit, Transfer and Refund) Rules, 2016 simplify the process for refund of claims by instituting digitisation, transparent and faceless processing, and rule based, time bound company compliances. The Investor Education & Protection Fund Authority, established under Section 125 of the Companies Act, 2013, continues to promote investor education and protection while implementing these system driven reforms and coordinating investor awareness programmes.

NEFT 24x7 availability expands round the clock transfers; banks must maintain liquidity and send confirmation messages.
NEFT will operate on a continuous 24x7 basis via 48 half-hourly settlement batches daily, with the first settlement after 00:30 and the last ending at 00:00, and will be available on all days including holidays. Banks must process after-hours transactions via STP, continue the discipline of crediting beneficiaries or returning transactions within two hours of batch settlement, send positive confirmation messages (N10) for all credits, and adhere to all NEFT procedural guidelines. Banks must maintain adequate liquidity with the central bank and ensure necessary infrastructure for seamless 24x7 NEFT processing.

On tap licensing for small finance banks enables continuous applications and immediate scheduled bank status upon commencement.
Guidelines establish an on tap licensing regime for Small Finance Banks, require minimum paid up voting equity capital / net worth of Rs. 200 crore for new applicants, and mandate that Primary (Urban) Co operative Banks transitioning to SFBs meet Rs. 100 crore initially and reach Rs. 200 crore within five years. SFBs receive scheduled bank status and general permission to open banking outlets upon commencement; Payments Banks may apply to convert to SFBs after five years if eligible under the guidelines.

National Public Procurement Portal enables end-to-end transparent government procurement, integrating banking and multiple procurement modes.
GeM SPV operates as the National Public Procurement Portal delivering an end-to-end, open and transparent online procurement platform for government purchases with direct purchase, e-bidding and reverse auction modes; it incorporates online banking services through MOUs for collections, transfers and payment mechanisms, reports large numbers of registered buyers and sellers, and publishes state- and district-level procurement volumes by procurement mode, including national aggregates and a specific Satna district breakdown.

Government securities auction: re-issue conducted by RBI via multiple-price method with competitive and non competitive bidding.
Sale (re-issue) of specified government stocks will be effected through price-based auctions conducted by the Reserve Bank of India using the Multiple Price Method, with the Government retaining an option to retain additional subscription within overall limits. Up to a prescribed share of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via the RBI E Kuber system within prescribed time windows; auction results and payment follow on specified dates. The re-issued stocks are eligible for "When Issued" trading per RBI guidelines.

Monetary policy stance: RBI likely to continue accommodative policy amid subdued manufacturing growth and muted inflation.
The Reserve Bank is likely to maintain an accommodative stance and implement further rate reductions in response to subdued manufacturing activity, restrained demand, weak forward-looking indicators (business optimism, input buying, employment) and only marginal inflationary pressure, with successive cuts earlier in the year aimed at supporting growth and liquidity.