Government securities auction procedures: re-issue, pricing methods, non-competitive allocation, and when-issued trading eligibility.
Re-issuance auctions are announced for three government securities with specified notified nominal amounts; two will use the uniform price method and one the multiple price method. The issuer may accept additional subscriptions up to a set margin per security and will reserve up to five percent of each notified amount for eligible non-competitive bidders. Competitive and non-competitive electronic bids must be submitted via the designated core banking auction platform within prescribed time windows on the auction date. Results are announced on auction date and settlement occurs on the scheduled payment date. Securities qualify for when-issued trading under existing guidelines.

Banking leadership showcased in a memoir stressing mentorship, enduring institutional practices, and promotion of women leaders in finance.
Launch of a memoir by a veteran banker documenting decades of involvement in India's financial sector, the establishment of enduring banking processes and institutional practices, and the author's role in mentoring banking talent, including focused efforts to promote women leaders and gender-neutral advancement in financial services.

Operational resilience: banks must ensure capital, liquidity, cyber and outsourcing controls to sustain critical services and trust.
The address requires banks and regulated entities to maintain financial, operational and organisational resilience by holding adequate capital and liquidity, strengthening cyber and third party controls, and embedding anticipatory governance. Prudential tools-capital, provisioning, liquidity and macroprudential measures-are to be complemented by enhanced supervision focused on governance, root cause remediation and analytics-driven surveillance, supported by revised audit expectations and specific guidelines on IT outsourcing and digital lending.

Government securities auction: re-issue sold via uniform and multiple price methods with non-competitive allocation and when-issued trading eligibility.
Re-issue auctions are announced for three Government securities offered through price-based auctions (two by uniform price method; one by multiple price method), with a government option to retain additional subscriptions up to a stated amount. Up to 5% 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 on the RBI E-Kuber system within specified time windows on the auction date; auction results and payment dates are published, and the securities are eligible for When Issued trading under RBI guidelines.

Financial inclusion: banks urged to bank the unbanked, secure the unsecured and fund the unfunded.
Banks are directed to prioritise financial inclusion by banking the unbanked, securing the unsecured and funding the unfunded; increase rural banking penetration; reduce loan disbursement waiting periods; run special account opening camps for new voters; and utilise the PM Svanidhi scheme to provide collateral free small loans without CIBIL reliance. Maharashtra's PM Svanidhi performance exceeds national averages while MUDRA uptake lags, and NABARD's Western Maharashtra performance was reviewed.

Government securities auction: re-issue with uniform and multiple price methods, non-competitive allocation and bidding windows.
Re-issue auctions for three Government securities will be held using uniform price and multiple price methods with notified amounts and a Government option to retain additional subscriptions; up to 5% of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically via RBI's E-Kuber within prescribed time windows; auction results, payment settlement and eligibility for When Issued trading follow RBI guidelines.

Fair lending practice reform: draft circular proposes standardising penal charges and invites stakeholder consultation.
Review of the levy of penal interest: the Reserve Bank has issued a draft circular proposing revisions to regulatory guidelines to align levy practices with fair lending principles, focusing on conditions and mechanics for levying penal charges to ensure transparency and prevent arbitrary or disproportionate charging. The draft is released for stakeholder consultation, with comments invited to the Chief General Manager, Department of Regulation, Central Office.

International taxation coordination urged to implement the two pillar international tax package and enhance tax transparency globally.
The FMCBG meeting reviewed progress of G20 Finance Track workstreams, focusing on implementing recommendations of the Independent Panel on MDBs' Capital Adequacy Frameworks, advancing multilateral coordination on sovereign debt and debt treatments under the Common Framework, mobilising climate finance and MDB catalytic roles for private finance, addressing macrofinancial risks from crypto-assets with potential global policy responses, leveraging Digital Public Infrastructure for financial inclusion and preparing the 2023 Financial Inclusion Action Plan, and coordinating implementation and wider adoption of the two-pillar international tax package to enhance tax transparency.

Government securities auction: mixed yield and price-based issues offered with competitive and non-competitive electronic bidding procedures.
Announcement of an auction program for multiple central government securities using yield-based and price-based offerings under uniform-price and multiple-price methods, with the Government's option to retain additional subscriptions. Up to five percent of each issue is reserved under the Non-Competitive Bidding Facility. Electronic bids must be submitted on the designated core banking system within prescribed time windows; the central bank administers bid receipt, allocation, result announcement, and settlement. Securities are eligible for When Issued trading under existing guidelines.

Collateral-free microcredit access expanded under PMMY, broadening financial inclusion, targeted borrower support, and guarantee coverage.
The Scheme provides collateral free microcredit through Member Lending Institutions for income generating activities across sectors, categorised into three loan bands-Shishu, Kishore and Tarun-with interest set by lenders within central bank guidelines. It advances financial inclusion under three pillars-Banking the Unbanked, Securing the Unsecured and Funding the Unfunded-prioritises women and disadvantaged borrowers, and is supported by an interest subvention for prompt repayment on the smallest loans and a Credit Guarantee Fund to back eligible micro loans.

Price stability focus: RBI keeps policy rates unchanged and unveils market, regulatory and consumer protection measures.
The Reserve Bank kept the policy repo rate and related facility rates unchanged while maintaining focus on withdrawal of accommodation to restore price stability. It announced five measures: permitting IFSC banks to offer INR non deliverable derivative contracts to residents onshore; creating a secure centralised regulatory portal (PRAVAAH) with time limits for approvals; building a public portal to search unclaimed bank deposits across banks; strengthening grievance redress and disclosure requirements for Credit Information Companies including compensation and access alerts; and expanding UPI to operate pre sanctioned bank credit lines.

Monetary policy stance unchanged, with emphasis on withdrawal of accommodation to align inflation with the medium term target.
The MPC kept the policy repo rate and related policy rates unchanged and emphasised continued withdrawal of accommodation to align CPI inflation with the 4 per cent 2 percentage points target, citing resilient domestic growth, elevated core inflation, supply-side price pressures, global financial volatility and downside external demand risks, while remaining ready to act if inflationary pressures persist.

Financial sector resilience and inclusion enable recovery through liquidity support, strengthened governance and digital finance expansion.
The Reserve Bank implemented liquidity operations, rate reductions and temporary prudential reliefs to preserve financial stability and sustain credit flows during the pandemic, complemented by fiscal measures. Attention then shifted to recalibrating support amid global inflation and tighter monetary conditions while reinforcing bank capital buffers, governance and risk management. Concurrently, accelerated digitalisation-including public digital infrastructure, digital lending and the Account Aggregator framework-was promoted to deepen financial inclusion, alongside a consultative, principle based regulatory approach balancing innovation with consumer protection.

Government securities auction: uniform and multiple price methods scheduled with competitive and non competitive bidding procedures.
The Government of India announced auctions for three specified Government Securities with notified amounts and an option to retain additional subscriptions. Distinct auction methods apply: yield based uniform price, price based uniform price, and price based multiple price. The Reserve Bank of India will conduct auctions via the E Kuber electronic system with defined competitive and non competitive bid windows and up to five percent reserved for eligible bidders under the Non Competitive Bidding Facility. Auction result and settlement dates are pre set and the securities are eligible for When Issued trading under RBI guidelines.