Government receipts and expenditures monitoring highlights revenue composition and state tax devolution affecting fiscal position.
The consolidated monthly accounts report Government of India receipts by source-tax revenue, non tax revenue and non debt capital receipts-and note transfers to states under Devolution of Share of Taxes. Total expenditure is presented by revenue and capital accounts, with major components of revenue outgo identified as Interest Payments and major subsidies, facilitating mid year assessment against budget estimates.

Aadhaar Enabled Payment System touchpoint operators must undergo enhanced due diligence, KYC updates, single-bank onboarding, and risk-based monitoring.
Acquiring banks must perform Due Diligence on AePS touchpoint operators per the prescribed Customer Due Diligence procedures, update KYC after six months of dormancy before re-enablement, and ensure each operator is onboarded by only one acquiring bank. Banks must apply risk-based ongoing monitoring, set transaction limits by risk profile, and ensure transactions align with location and risk; all participants must adhere to system-provider rules and implement these measures within the compliance timeframe.

Free Trade Agreements promote reciprocal market access and linked investment commitments while urging quality controls to protect competitiveness.
Free trade agreements operate as reciprocal market-opening instruments negotiated after stakeholder consultations, with the India-EFTA FTA linked to a large investment commitment; the Government stresses strategic selectivity, exemplified by withdrawal from RCEP. Industry is urged to employ Quality Control Orders to raise standards and block substandard imports, to advise on reducing compliance burdens, and to utilise a government research and development fund, alongside new industrial and textile parks, to boost competitiveness and support startups and MSMEs.

WTO reform urged to restore multilateral trading effectiveness, including dispute settlement overhaul and paperless trade for resilient supply chains.
The summary urges WTO reform focused on development and operational improvements, including Special and Differential Treatment, a permanent Public Stock Holding solution and a two tier dispute settlement mechanism; it also prioritizes paperless trade and digitalization of trade documents for resilient supply chains, cooperation on Global Value Chains, concerns about unilateral climate trade measures inconsistent with multilateral agreements and CBDR, and enhanced cooperation on SEZs, MSME integration, technology transfer and digital public infrastructure.

Central bank climate risk oversight urges disclosure, transition plans and adaptation finance to protect financial stability and mobilise capital.
Central banks and regulators must address how climate events translate into financial risks affecting monetary stability and the safety of regulated entities. Key measures urged include establishing climate information architecture and disclosure frameworks, requiring credible top-driven transition plans with regional and sectoral detail, integrating climate risk into risk management and stress testing, and promoting adaptation and blended finance to mobilise private capital and support a just transition for developing economies.

Liquidity Coverage Ratio revisions propose changes to HQLA haircuts and deposit run off rates, inviting stakeholder comments.
Draft circular proposes adjustments to the Liquidity Coverage Ratio (LCR) by reviewing haircuts on High Quality Liquid Assets (HQLA) and revising run off rates on certain deposit categories to strengthen banks' short term liquidity resilience; stakeholder comments are invited with specified submission details.

Steering Committee for National Sample Surveys to review methodology, finalize tabulation, and approve survey results under two-year tenure.
Constitution of a Steering Committee for National Sample Surveys with a two year tenure, comprising nominated officials, representatives and expert members, tasked to review and advise on survey methodology (sampling frame, sampling design, questionnaires), finalize tabulation plans, conduct pilot testing, identify data gaps, provide technical guidance to central and state agencies, and finalize and approve survey results; the Committee may form Working Groups which will report to it, and the Survey Coordination Division will issue orders and provide administrative and financial support.

Growth projection: India's real GDP set to expand, underpinned by prudent macroeconomic policy and structural reforms.
Economic Survey 2023-24 projects sustained real GDP growth supported by prudent macroeconomic, trade and monetary policies that lowered retail inflation and preserved financial sector resilience. It highlights infrastructure expansion, unified power grid development, and capital formation in agriculture as supply-side enablers. The Survey stresses employment generation, rising female labour force participation, skilling and education reforms, MSME deregulation, services-sector transformation, and increased social-sector spending-including health and women's welfare-while advocating locally calibrated climate action and technological adoption to improve delivery and efficiency.

Assurance functions integration enhances coherent risk assessment and regulatory alignment for sustainable financial sector operations.
The remarks stress that robust assurance functions-risk, compliance and internal audit-must address third party dependencies, cybersecurity, and customer conduct, using operational risk frameworks built on Prepare and Protect, Build Resilience and Learn and Adapt. They advocate moving from siloed Three Lines of Defense arrangements to a Combined Assurance Model with a common risk universe, aligned taxonomies and scoring, proactive business risk orientation, senior management commitment to risk culture, and upskilling to enable ex ante assurance.

Liquidity and interest rate risk management urged to curb structural funding gaps and reinforce banks' resilience and governance.
The Reserve Bank warns that divergent credit and deposit growth can create structural liquidity risk, urging banks to recalibrate funding strategies, improve deposit mobilisation and refine credit underwriting. It stresses prudent management of liquidity and interest rate risks, strengthening cybersecurity, preventing digital frauds and mule accounts, enhancing oversight of third-party outsourcing, enforcing fair conduct and disclosure in retail lending, and promoting transition financing and disclosure while monitoring private credit markets for systemic vulnerabilities.

Statutory audit responsibilities expand under principle based regulation; auditors must validate judgements, models and disclosures.
Statutory auditors must ensure that financial statements of banks and AIFIs present a true and fair view and support prudential measures; under principle based regulation they must evaluate management judgement in investment classification and ECL provisioning, validate models and methodologies, and apply heightened scepticism. Auditors should insist on meaningful disclosures of assumptions, governance and methods, and expand their remit to address going concern, climate risk, technology and vendor related operational risks, requiring specialised skills and closer engagement with regulators.

Auditor independence and CFO transparency strengthen banking supervision, improving early risk reporting and governance assurance.
CFOs must ensure accuracy and integrity of financial statements, maintain transparent escalation channels, rationalise internal accounts, and invest in analytics; auditors must apply rigorous, substance focused audits, evaluate internal controls, report vulnerabilities via the exception reporting system, ensure competence in IT and cyber security, and uphold auditor independence to preserve objectivity and strengthen supervisory assurance.

Insolvency and Bankruptcy Code: emphasis on efficient, time bound corporate resolution and strengthened insolvency profession development.
The PGIP inauguration emphasises professionalising insolvency practice to operationalise the Insolvency and Bankruptcy Code through a unified, time bound corporate resolution framework prioritising resolution over liquidation; it identifies challenges of timely resolution, infrastructure, and recovery, and stresses that insolvency professionals require negotiation, management, claims collection, creditor voting regulation, and ethical skills, with IICA-IBBI collaboration aimed at producing skilled practitioners to preserve asset value and strengthen credit culture.

Regulatory non compliance penalty imposed for breaches of lending restrictions and failures in KYC recordkeeping following supervisory inspection.
A supervisory inspection and show cause process found regulatory non compliance: the bank sanctioned working capital demand loans to two state owned corporations against government receivables and failed to preserve customer identification and address records for certain accounts, leading the regulator to impose an administrative monetary penalty while reserving other enforcement options.

Government securities auction: re-issue via price-based multiple-price method with non-competitive allocation and when-issued trading scheduled.
Sale (re-issue) of three Government of India securities will be conducted by the Reserve Bank of India by price-based auction using the multiple price method, with Government option to retain additional subscriptions up to a stated ceiling for each security. Up to five percent of each notified amount will be allotted to 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, payment schedule, and eligibility for When Issued trading follow announced guidelines.