Government receipts and expenditures report shows tax, non tax and capital receipts and higher devolution to states.
Monthly consolidated accounts up to May 2023 report the Union Government's fiscal flows for 2023-24: receipts comprised principally of Tax Revenue, Non Tax Revenue and Non Debt Capital Receipts (loan recoveries and miscellaneous capital receipts), with a noted increase in devolution of tax share to States; and total expenditure split into Revenue and Capital Expenditure, with Interest Payments and Major Subsidies identified as major components of revenue outlays.

Electoral Bond rules: limited validity and bank-encashment requirement; only registered eligible political parties may receive bonds.
Electoral Bonds are purchasable by Indian citizens and entities, with individuals allowed to buy singly or jointly; only political parties registered under Section 29A and meeting the vote-threshold are eligible to receive and encash bonds. Encashment must occur through the party's bank account with an authorised bank and deposits are credited the same day. The State Bank of India is authorised to issue and encash bonds through specified authorised branches for the announced sale phase, and no payment is made for bonds deposited after the bonds' limited validity period.

Re-issue auction of government securities opens for bidding, with competitive and non-competitive channels and allotment rules.
Re issue auctions are announced for three Government securities, two using the uniform price method and one using the multiple price method, with the Government able to retain additional subscriptions. Up to 5% of each notified amount is reserved for non competitive bidders under the Scheme. Auctions will be conducted electronically on the RBI E Kuber system with specified submission windows for non competitive and competitive bids; results and settlement follow the announced schedule. The securities will be eligible for when issued trading in line with RBI guidelines.

Competition approval for acquisition enabling post amalgamation majority shareholding in a general insurer, subject to regulatory compliance.
CCI approved a combination whereby HDFC Limited will acquire additional shareholding of HDFC ERGO on a spot delivery basis so that, after the acquisition and the amalgamation of HDFC Limited into HDFC Bank, HDFC Limited and the amalgamated entity will hold a majority shareholding in HDFC ERGO in compliance with banking laws.

Acquisition of additional shareholding: on market purchases create combined majority ownership post amalgamation, subject to banking compliance.
Approval by the Competition Commission of India has been granted for a combination where HDFC Limited will acquire additional shares of HDFC Life via on market purchases so that, after the proposed amalgamation of HDFC Limited into HDFC Bank, the combined entities will hold majority shareholding in HDFC Life in compliance with banking and regulatory requirements.

Government securities auction re-issue with uniform and multiple price methods; non-competitive bidding and when-issued trading permitted.
The Government announced re-issue auctions of three government securities, two via uniform price method and one via multiple price method, with an option to retain additional subscriptions. Up to five percent 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 prescribed time windows; auction results and payment dates are scheduled and the securities will be eligible for When Issued trading under RBI guidelines.

Issue price and online payment discount for sovereign gold bond clarified; subscription window and digital-payment discount specified.
Sovereign Gold Bond 2023-24 (Series I) specifies the subscription window and settlement date, sets a standard issue price per gram for the subscription period, and provides a conditional online digital payment discount that reduces the issue price per gram for investors who apply online and pay by digital mode.

Banking supervision reforms to strengthen governance, IT resilience, data oversight and timely supervisory intervention for stability.
Banking supervision must strike a balance between financial stability and moral hazard through prudent regulation, risk based oversight, transparency, timely intervention and independence. Supervisors should prioritise corporate governance, evaluate bank business models against risk appetite, fortify IT and cyber resilience, assess assurance functions, embed an organisation wide compliance culture, deploy formal escalation matrices, leverage data analytics and market intelligence, and invest in capacity building and advanced supervisory analytics to detect and mitigate emerging technological, data and macro financial risks.

Inflation targeting shifted policy from stimulus to withdrawal, paired with targeted liquidity and strengthened supervision to restore price stability.
The Reserve Bank of India combined calibrated monetary policy shifts-initial rate cuts and targeted liquidity support with maintained collateral standards and sunset clauses-with a later transition to withdrawal of accommodation and successive rate increases as inflation broad based. This approach operated within a Flexible Inflation Targeting framework while weighing growth priorities. Complementary measures included strengthened governance, uniform capital and liquidity requirements, scale based regulation for non bank entities, enhanced supervisory analytics and continuous stress testing. Communication and forward guidance, including pre announced asset purchases, were used to anchor expectations and facilitate orderly policy transmission.

Government securities auction using uniform and multiple price methods with non-competitive quota and electronic E Kuber bidding.
Announcement of an auction for three central government securities: two re-issues via price-based uniform price auction and one new security via yield-based multiple price auction, with an option for the Government to retain additional subscriptions. Up to 5% of each notified amount is reserved for eligible applicants under the Non-Competitive Bidding Facility. The Reserve Bank of India will conduct the auctions through E Kuber; competitive and non-competitive bids must be submitted electronically within prescribed windows, and results, settlement timing and eligibility for When Issued trading are specified.

Policy repo rate unchanged as MPC focuses on withdrawing accommodation to align inflation with the target.
The Monetary Policy Committee kept the policy repo rate unchanged and maintained standing facility rates, while committing to a calibrated withdrawal of monetary accommodation to ensure inflation progressively aligns with the CPI medium term target. The MPC noted moderating headline inflation, identified food dynamics and monsoon distribution as key risks, projected inflation and GDP growth for the year with risks evenly balanced, and recorded a unanimous vote to keep the policy rate unchanged with one member reserving on the withdrawal of accommodation language.

Bank governance: Boards must align management incentives, enforce risk transparency, and strengthen assurance functions for stability.
Boards must exercise heightened fiduciary responsibility and active oversight to align management incentives with depositor and stakeholder interests, ensure transparency of financial performance and risk practices, and enforce fit-and-proper director composition. Operational duties include setting risk-management expectations with regular reporting on risk appetite and exposures, objectively appraising management and taking corrective action, structuring remuneration to reflect long-term risks with ex-ante and ex-post checks, and instituting Board self-assessment. Assurance functions must be independent, resourced and directly linked to the Board to identify and remediate governance and supervisory concerns.

Government securities auction: multiple dated securities issued via uniform and yield-based methods, with non-competitive allocation.
Primary market auctions for four Central Government securities will be conducted by the Reserve Bank of India using price-based uniform price auctions for three re-issued dated securities and a yield-based multiple price auction for a new long-dated security; the Government may retain additional subscription up to notified limits; a fixed proportion of each notified amount is allocable to eligible participants under the Non-Competitive Bidding Facility; bids must be submitted electronically on the RBI E-Kuber system within prescribed windows, with auction results and settlement following the announced timetable and "When Issued" trading permitted under RBI guidelines.

Cyber resilience draft mandates governance and baseline security controls for payment operators, inviting stakeholder comments by a set deadline.
Draft directions require Payment System Operators to implement a governance mechanism for identifying, assessing, monitoring and managing cybersecurity and information security risks, and to adopt specified baseline security measures to ensure safe and secure digital payment transactions; the draft is published for stakeholder consultation with comments invited by a stated deadline.