Digital payment incentives drive district-level cashless adoption, offering seed support and awards to local administrations.
NITI Aayog instituted a district level communication campaign to accelerate cashless digital payments by providing seed money to district administrations, curating outreach materials, mobilizing Common Service Networks, deploying two resource persons per district, and offering merchant incentives; operational priorities include seeding mobile and Aadhaar numbers to bank accounts, issuing RuPay cards and PINs, enabling app downloads and achieving successful digital transactions, with performance recognition through awards for top districts and early adopting panchayats.

Irregular transactions post-demonetisation prompt disciplinary action against bank officials; illegalities will not be tolerated and transfers instituted.
Action was taken against bank officials who conducted transactions violative of RBI instructions after the Government's demonetisation of Specified Bank Notes; implicated officials were placed under suspension or reassigned to non sensitive posts, and banks were warned that while genuine transactions would be facilitated, illegalities would not be tolerated and appropriate action would follow.

Reference Rate Publication: RBI sets US dollar reference rate and derived rupee cross rates for major currencies.
The Reserve Bank published the Reference Rate for the US Dollar and, using that reference together with middle cross-currency quotes, provided corresponding rupee exchange rates for the euro, pound sterling and Japanese yen; the rupee SDR rate will be based on the Reference Rate.

Monetary Policy Committee meeting to publish its resolution online promptly after deliberations at scheduled time.
The Monetary Policy Committee will convene to determine the Fifth Bi monthly Monetary Policy Statement for 2016 17 and will publish its resolution online at a specified time following the conclusion of the meeting.

Demonetisation review: parliamentary committee to question central bankers and finance officials on economic impact and uncertainty.
The Public Accounts Committee will summon the Reserve Bank Governor, Finance Secretary and Economic Affairs Secretary in early January to review the economic effects of the November demonetisation of high value notes, seeking explanations on macroeconomic impact, growth projections and implementation issues; the date will depend on officials' availability.

Reference rate for US dollar updated, altering euro, pound and yen exchange rates and informing the SDR rupee linkage.
Reserve Bank of India published the Reference Rate for the US Dollar, setting the official rupee conversion rate and comparing it with the previous day; it used that reference together with middle cross currency rates to derive exchange rates for the Euro, Pound and Yen, and stated that the SDR Rupee rate will be based on the published reference rate.

Digital payment adoption to be accelerated through a chief ministers' committee proposing a one-year national implementation roadmap.
A high-level intergovernmental committee chaired by a Chief Minister, with other Chief Ministers, senior NITI Aayog officials and industry experts, will identify global best practices and devise a one-year road map to expand and adopt digital payment instruments (cards, digital wallets, internet banking, UPI), propose measures to overcome adoption bottlenecks, prepare State administrative road maps, associate key stakeholders, and design public outreach to promote financial inclusion, transparency and formalization of transactions.

Reference rate for US Dollar published; derived euro, pound and yen exchange rates set, SDR rupee linkage confirmed.
The central bank published the official reference rate for the US Dollar and the previous day's reference; using that reference and cross currency middle rates it supplied corresponding exchange rates for the euro, pound sterling and yen against the rupee, and declared the SDR Rupee rate will be based on the published reference rate.

Reference rate for US Dollar sets benchmark for rupee exchange quotations and determines cross currency and SDR rupee rates.
The Reserve Bank of India published the Reference Rate for the US Dollar for November 29, 2016 at Rs. 68.6535 and used that reference rate, together with middle rates of cross currency quotes, to derive exchange rates for the Euro, Pound Sterling and Japanese Yen; the SDR-Rupee rate is based on the Reference Rate.

Government securities auction: multiple-price issuance with non-competitive allocation and electronic bidding via E-Kuber on scheduled dates.
Announcement of auctions and re-issue of Government of India securities to be conducted by the Reserve Bank of India on a specified date using price-based and yield-based formats and the multiple price method. Up to 5% of each stock is reserved for eligible individuals and institutions under a non-competitive bidding facility. Competitive and non-competitive bids must be submitted electronically via the E-Kuber system within defined time windows; results and payment/settlement dates are specified. Securities are eligible for when-issued trading under RBI guidelines.

Relaxation of withdrawal limits permits withdrawals beyond existing caps for deposits made in current legal tender notes.
Notification implements a relaxation of withdrawal limits, permitting withdrawals beyond applicable limits for deposits made in current legal tender notes on or after the effective date, and directs banks to prefer issuing available higher denomination notes for such withdrawals.

Acceptance of withdrawn banknotes for tax payments permitted under IDS 2016; banks must implement the regulatory guidance.
Banks are authorised to accept old Rs. 500 denomination notes for payment of taxes, surcharge and penalties under the Income Declaration Scheme; this follows the Reserve Bank FAQ (Question No. 22(l)) and related communications clarifying that withdrawn notes are acceptable for tax-related payments under the IDS, and banks must ensure branches implement the guidance strictly.

Reference rate for the US dollar set and used to derive Euro, Pound and Yen rupee exchange rates.
Reference rate for the US Dollar set at Rs. 68.7235 on November 28, 2016, compared with Rs. 68.4626 on November 25, 2016. Using this USD reference and middle cross currency quotes, the rupee exchange rates for the Euro, Pound Sterling and Japanese Yen for November 25 and November 28, 2016 are presented. The SDR Rupee rate will be based on the reference rate.

High-denomination note legal tender withdrawal: central bank will continue exchanges at its counters within existing per-person limits.
Exchange of the affected high-denomination banknotes will continue to be available at Reserve Bank counters subject to existing per-person exchange limits; exchange at other banks' counters is discontinued.

Reference rate publication updates US dollar and derived euro, pound and yen rupee exchange rates affecting valuation.
Publication of a reference rate for the US dollar establishes the benchmark rupee value and produces derived rupee exchange rates for the euro, pound sterling and yen based on middle-rate cross currency quotes; the SDR rupee rate is to be calculated on the basis of that published reference rate.

Ban on over-the-counter exchange of demonetised notes; limited exemptions continue for select payments and foreign exchange.
Prohibition on over-the-counter exchange of the old high-denomination notes after midnight of 24.11.2016, with a limited set of exemptions continued through 15.12.2016 limited to payments in the lower-denomination old note and subject to category-specific caps for school fees, government college fees, prepaid mobile top-ups, consumer cooperative store purchases, household water and electricity dues, designated toll plaza payments in a specified window, and restricted weekly foreign-currency exchange for visitors with passport entry.

Foreign direct investment approvals issued for four proposals while others were deferred, rejected, or found outside FIPB scope.
Central Government approved four FDI proposals on FIPB recommendations: ex post facto approval for non news publication activity; approval to set up a wholly owned subsidiary by an overseas university with phased convertible instrument investment; approval for a foreign owned pharmaceutical company to acquire an Indian NBFC; and approval for issuance of equity to a foreign investor in connection with up linking of news and current affairs channels. Several other proposals were deferred, some rejected for defence related or downstream investment concerns, and three were held not to lie before FIPB.

Digital payments expansion: banks to scale alternate channels and promote cashless adoption with targeted outreach and incentives.
A coordinated push to accelerate transition to digital payments following the withdrawal of specified high denomination notes is being advanced through banking sector measures and outreach. Banks are to scale up transactions across alternative channels-NEFT, mobile wallets, prepaid cards, QR codes, payroll cards, debit and credit cards, and UPI-with emphasis on semi urban and rural uptake, supported by the Indian Bankers Association's consumer education. As cash pressure eases, banks will restart normal lending including Mudra support delivered via payment instruments, while short term incentives and monitored liquidity releases support agricultural and cooperative bank needs.

Reference rate publication: RBI's daily exchange rate framework sets base and cross-currency rupee rates for operational use.
The Reserve Bank of India publishes a daily reference rate for the US Dollar as the base for calculating rupee exchange rates; the release compares the published USD reference rate with the prior day and, using cross currency middle rates, provides rupee rates for euro, pound sterling and yen. The statement specifies that the SDR Rupee rate will be based on the published reference rate, linking SDR conversions to the Bank's daily USD reference framework.

Digital payments promotion expands fee waivers and higher limits to accelerate cashless transactions and farmer access.
The Government reinforced agricultural liquidity through a NABARD credit limit to DCCBs for on-lending via PACS, directed RBI and banks to ensure cash availability at DCCBs and rural branches, and provided borrower repayment flexibility; concurrently it promoted digital payments by waiving merchant and switching charges, increasing payment limits for wallets and cards, reducing USSD charges, and directing public sector entities to use electronic payment channels.