Auction of Government Securities: re-issues offered via price-based multiple-price auction with non-competitive quota and RBI e-Kuber bidding.
The Government announced re-issue auctions of three dated Government Stocks via price based multiple-price auctions conducted by the RBI on E-Kuber, allowing both competitive and Non-Competitive Bidding Facility bids with up to five percent of each issue allotted to eligible individuals and institutions; the issuer may retain additional subscription up to a specified cap and the stocks are eligible for When Issued trading under RBI guidelines.

Union government receipts and expenditure reveal reduced devolution to states and substantial interest and subsidy outgo.
Consolidation of June 2020 monthly accounts shows central receipts comprised of tax revenue (net), non tax revenue and non debt capital receipts, with a substantial portion of tax proceeds transferred to states under devolution; the devolved amount is lower than the prior year. Expenditure is dominated by revenue spending, with interest payments and major subsidies as principal components, reflecting debt servicing and subsidy burdens that constrain the Centre's fiscal space for the period.

Loan restructuring: government coordinating with central bank to address industry and hospitality relief; banks must extend emergency credit.
Government engagement with the central bank on loan restructuring is the primary policy response to COVID-19 impacts on industry, including consideration of moratoriums for hospitality and establishment of a Development Finance Institution to meet emerging credit needs. Banks are directed not to refuse credit under the Emergency Credit Guarantee facility to eligible MSMEs, with refusals to be reported. Reciprocity in trade negotiations is emphasised, and GST rate changes will be decided by the GST Council.

Infrastructure financing: urging expanded instruments and private capital mobilisation to fund social and climate resilient recovery projects.
The Finance Minister highlighted the AIIB's rapid pandemic-era financial support and described India's complementary emergency and stimulus measures, urging the Bank to expand financing instruments, mobilise private capital, fund social and climate-resilient infrastructure aligned with sustainable development goals, and consider establishing a regional presence to improve project management and partnership with India's National Infrastructure Pipeline.

Government securities auction procedures announced; competitive and non competitive electronic bids via E Kuber with reserved non competitive quota.
Announcement of auctions for multiple Government of India securities with specified auction methods and notified amounts, an option to accept additional subscriptions up to a stated cap per security, and a reservation of up to five percent for eligible participants under the Non-Competitive Bidding Facility. The Reserve Bank of India will conduct the auctions via the E-Kuber electronic platform using the multiple price method, with prescribed time windows for non-competitive and competitive bid submission, scheduled result and payment dates, and eligibility for When Issued trading under RBI guidelines.

Special Liquidity Scheme expands short-term funding access for NBFCs and HFCs through SPV purchases of eligible debt.
The Special Liquidity Scheme enables a Special Purpose Vehicle to purchase primary and secondary debt of eligible NBFCs and HFCs to provide short-term liquidity and exit options for holders of standard investments with short residual maturities, operated through SLS Trust with a time-limited subscription period and subject to registration and compliance conditions.

QR code payments should adopt interoperable standards, simplified merchant onboarding and stronger security and controlled interchange incentives.
The Committee recommends promoting open, interoperable QR standards (Bharat QR and UPI QR) while phasing out proprietary closed loop QR systems; simplifying merchant onboarding by accepting existing bank account KYC with acquiring banks retaining onboarding responsibility and risk based KYC strengthening; enabling technical standards such as signed and dynamic QR codes, backend merchant resolution via a common registry, multiple UPI IDs per recipient, offline dynamic QR for low value use cases, and third party security testing; and replacing zero MDR with a controlled interchange plus incentives to sustain the payments ecosystem.

Government securities auction: re-issue offered via price-based multiple-price method with non-competitive facility and when-issued trading eligibility.
The Government of India announced re-issue auctions of three Government Stocks via price-based auctions conducted by the Reserve Bank of India using the multiple price method; the Government may accept additional subscriptions up to a specified limit for each issue, and up to five percent of each notified amount is reserved for eligible holders under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the RBI's E-Kuber within the prescribed non-competitive and competitive windows, results are announced on the auction day with payment on the stated settlement date, and the stocks are eligible for When Issued trading under RBI guidelines.

Government securities auction: re-issue of dated and floating bonds via multiple-price auction with competitive and non-competitive bids.
Announcement of multiple re-issues of central government securities via price-based auctions using the multiple price method, with notified nominal amounts and a government option to retain additional subscription. Up to five percent of each notified amount is reserved under the Non-Competitive Bidding Facility. Both competitive and non-competitive bids must be submitted electronically through the designated core banking auction system within prescribed time windows. Result declaration, payment schedule, and eligibility of the stocks for When Issued trading under existing guidelines are specified.

Monetary policy and regulatory measures bolster financial stability while requiring banks and NBFCs to stress test and plan capital.
The Reserve Bank of India deployed monetary easing, large liquidity injections and supervisory reforms to preserve financial stability and ensure credit flow during the COVID-19 shock. It enhanced off site surveillance, reorganised supervisory functions, strengthened oversight of NBFCs and UCBs, and required banks and NBFCs to conduct forward looking stress testing with contingency capital and liquidity planning. The approach prioritises addressing causes of institutional weakness-business models, governance and assurance functions-while enabling non disruptive resolution of stressed entities and maintaining continuity of financial market infrastructure.

Government securities auction announced for re-issue stocks, with price-based multiple-price bidding and non-competitive allotment option.
Re-issue auctions of three Central Government stocks are announced under a price-based multiple-price auction, with electronic submission of competitive and non-competitive bids on the core banking system within specified windows, same-day announcement of results and scheduled settlement. Up to five percent of each issue is reserved for eligible individuals and institutions through the Non-Competitive Bidding Facility, and the government may retain additional subscriptions up to a stated cap against any one or more securities. The stocks are eligible for when-issued trading under applicable when-issued transaction guidelines.

Sovereign Gold Bond issue price set with a digital payment discount for online applicants during the subscription period.
Sovereign Gold Bond 2020-21 (Series IV) fixes a base issue price for the subscription window and provides a per gram discount to investors who both apply online and make payment through digital mode during that subscription period; the discount applies only to applicants meeting both conditions and operates for the announced tranche under the enabling government notification.

Special Liquidity Scheme for NBFCs and HFCs provides government guaranteed short term funding to repay existing liabilities.
Special Liquidity Scheme establishes a government guaranteed facility through an SLS Trust to provide short term funding by purchasing up to 90 day commercial paper and NCDs of eligible NBFCs and HFCs; eligibility requires registration with the appropriate regulator, compliance with capital adequacy, specified asset quality and profitability conditions, an investment grade rating, and absence of certain categorized slippages, and proceeds must be used only to repay existing liabilities.

Centralized stamp duty collection for securities shifts collection to designated market intermediaries and harmonizes state allocations.
The amendments establish a centralized stamp duty collection mechanism for securities market instruments by designated collecting agents (Stock Exchanges, authorized Clearing Corporations, Depositories, CCIL and RTI/STAs), who shall collect duty on specified transactions, retain a facilitation charge, and transfer collections within three weeks to the State Government determined by the buyer's domicile or prescribed nexus; the scheme prevents multiple levies on secondary records, generally assigns liability to one side of transactions, harmonizes rates across States, provides targeted rate reductions and exemptions for IFSC transactions, and contemplates regulatory guidance for implementation.