Central government fiscal receipts and devolution monitoring shows receipts shortfall against budget while expenditure tracking remains below revised estimates.
Consolidated central fiscal data to January 2024 present receipts made up of Tax Revenue (Net to Centre), Non Tax Revenue and Non Debt Capital Receipts, with a significant transfer to States as Devolution of Share of Taxes; expenditures are reported against the Revised Estimate and categorised into Revenue and Capital accounts, with Interest Payments and Major Subsidies prominent among Revenue Expenditure.

Effective communication in financial institutions strengthens customer engagement and supports transparent central bank policy and financial inclusion.
Rapid digitalisation and evolving business models require continuous skill development; human capital-especially soft skills and effective communication-is decisive for competitiveness. Individual communication by front-line staff affects customer suitability assessments and engagement, while enterprise-wide, transparent messaging is vital for reputation and expectation management. For central banks, clear, consistent communication across mandates enhances policy effectiveness. Institutions must combine context-rich channels for complex policy with broad outreach for financial literacy, and prioritise workforce training to meet technological change and diverse, multilingual audiences.

Climate-related financial risk disclosure: consultation invites regulated banks and finance firms to submit feedback to shape disclosure obligations.
The Reserve Bank of India published a draft Disclosure framework on Climate-related Financial Risks, 2024 establishing standardized disclosure expectations for a defined set of banks, primary urban co-operative banks, all-India financial institutions and upper-layer non-banking financial companies, and soliciting stakeholder comments through a prescribed consultation process to inform finalisation and supervisory guidance.

Policy repo rate unchanged; focus on withdrawal of accommodation to anchor inflation while supporting growth.
The MPC decided to keep the policy repo rate unchanged and to continue the stance of withdrawal of accommodation to ensure inflation progressively aligns with the medium term CPI target of 4% (+/ 2%) while supporting growth. The resolution was adopted by a 5-1 vote. Projections accompanying the decision set real GDP at 7.0% for 2024-25 and CPI inflation at 5.4% for 2023-24 and 4.5% for 2024-25, with food price volatility, monetary transmission and global geopolitical and market risks identified as key upside threats to the disinflation path.

Investor education collaboration expands fraud-prevention messaging through bank digital and branch channels to boost investor awareness.
A memorandum of understanding establishes collaboration between the Investor Education and Protection Fund Authority and DBS Bank to disseminate investor safety and fraud-prevention messages across the bank's digital and branch channels, including ATM screens, branch displays, the website, messaging platforms, and social media, thereby leveraging the bank's customer touchpoints to support IEPFA's investor awareness and protection objectives.

Monetary policy must balance price and financial stability amid structural supply shocks and global fragmentation.
Central banks should recalibrate policy to balance price stability and financial stability amid higher-for-longer rates and debt vulnerabilities; strengthened prudential regulation, macro buffers and clear communication have supported resilience. Policymaking must incorporate supply-side and sectoral analysis to manage cost-push inflation, while governments build strategic reserves and invest in hard and soft infrastructure. International cooperation-secure corridors for critical minerals and food, scaled green capital flows, and interoperable digital public infrastructure for cross-border payments-alongside vigilance on AI/ML misuse, are recommended to mitigate fragmentation and preserve stability.

Sovereign Gold Bond subscription: online digital applicants eligible for discount on issue price during subscription window
Sovereign Gold Bond issuance for 2023 24 Series IV opens 12-16 February 2024 with settlement on 21 February 2024 at an issue price of Rs.6,263 per gram; a prescribed discount of Rs.50 per gram applies when subscription is made online and payment is effected through digital mode, reducing the issue price to Rs.6,213 per gram for eligible investors.

Regulation of NBFCs: hybrid entity- and activity-based framework under Scale Based Regulation to preserve financial stability.
The Reserve Bank adopts a hybrid regulatory approach for NBFCs combining entity-based and activity-based rules under prudential and conduct pillars, with the Scale Based Regulation (SBR) aligning regulatory burden to size, complexity and interconnectedness; significant differences with banks remain (entry capital, permitted activities, priority sector obligations, capital composition, and operational restrictions), deposit-taking by NBFCs is discouraged due to macro-financial safety net requirements; and supervisors expect NBFCs to address funding concentration, underwriting standards, conduct on P2P platforms, microfinance pricing, business-model concentration and technology risks.

Policy repo rate decision maintained to pursue withdrawal of accommodation and align inflation toward the target.
The MPC maintained the policy repo rate and existing rate corridor, reiterated focus on withdrawal of accommodation to ensure disinflation and anchor inflation expectations while supporting growth, and projected GDP and CPI trajectories noting food price volatility and upside risks. The committee observed that policy transmission is still acting and recorded a majority vote for status quo with a minority preferring a rate cut and a neutral stance; minutes and next meeting dates were announced.

Merger control approval: foreign insurer cleared to acquire majority stake in Indian general insurer with staged share purchases permitted.
The Competition Commission of India has approved a proposed combination whereby a foreign insurer will acquire a controlling stake in an Indian general insurer through a combination of fresh growth capital and share purchase, with provision to acquire an additional minority parcel of shares over time to attain an aggregate majority holding; the acquirer is the principal operating insurer of a global group and the target underwrites motor, property, commercial and health insurance products, and a detailed order will follow.

Government receipts, tax devolution and expenditure composition signal fiscal position through December 2023.
Consolidated monthly accounts up to December 2023 record central receipts made up of tax revenue net to the Centre, non-tax revenue and non-debt capital receipts (including loan recoveries and miscellaneous capital receipts), and note an increased Devolution of Share of Taxes to State Governments. The statement presents Total Expenditure split into revenue and capital accounts, with revenue expenditure prominently comprising interest payments and major subsidies.