Sovereign Gold Bond pricing: online applicants paying digitally receive a discount on the published issue price during the subscription window.
Sovereign Gold Bond issuance sets the published issue price per gram for the subscription period with a specified settlement date; investors applying online and paying through digital modes are eligible for a discount on the published issue price, lowering the effective per gram price for such digitally paid online applications, pursuant to government notification and attendant press communication.

Repo rate reduction complements government growth measures and MPC growth and inflation projections remain within target band.
Reduction in the repo rate by the Monetary Policy Committee is recognised as a monetary policy action to support economic growth, complementing government measures; the MPC's revised growth projection and a higher headline inflation projection are noted, with inflation remaining within the target band.

NBFC-MFI eligibility expanded to broaden microfinance access; rupee market liberalisation and payment-system reforms announced.
Revision of NBFC-MFI eligibility and lending parameters raises borrower income ceilings and individual loan caps to broaden microfinance outreach. Domestic banks may freely quote foreign exchange to non-residents and rupee derivatives with foreign currency settlement will be permitted in IFSCs; Special Non resident Rupee Accounts will be expanded to facilitate rupee denominated external commercial borrowing, trade credit and invoicing. The Reserve Bank will extend round the clock collateralised liquidity support for a 24x7 NEFT, require internal ombudsmen for large non bank PPI issuers, disseminate more granular payment data, create an Acceptance Development Fund, and pilot district level full digital payments enablement.

Competition approval for acquisition of controlling interest in airport operator subject to mandated structural and contractual modifications.
The Commission authorised the proposed combination for acquisition of a majority equity interest in GMR Airports Limited by a domestic infrastructure subsidiary together with two SEBI registered foreign venture capital investors, subject to the acquiring parties implementing specified modifications proposed under the Commission's procedural regulations; GMR Airports Limited is an RBI registered investment holding company operating airports through subsidiaries.

Budget receipts and expenditure: consolidated fiscal flows, state devolution and major revenue outlays highlighted for monitoring.
Monthly fiscal accounts for August 2019 report consolidated Union Government receipts composed of tax revenue (net to Centre), non tax revenue, and non debt capital receipts (loan recoveries and disinvestment), and record transfers to States as devolution of share of taxes. Expenditure is presented as totals split into revenue and capital spending, with notable revenue components being interest payments and major subsidies, enabling monitoring of cash flows and fiscal position against budget estimates.

Treasury bill auction calendar sets scheduled issuances and preserves government flexibility to modify timing and amounts.
The document publishes the auction calendar for Government of India Treasury Bills for the quarter ending December 2019, specifying scheduled auction dates and notified issuance amounts by tenor (91 day, 182 day, 364 day) and aggregate totals. The Government, in consultation with the Reserve Bank of India, retains flexibility to modify amounts and timing depending on requirements and market conditions, with changes communicated by press release, and auctions conducted under the terms of the referenced General Notification.

Compliance function: embed board led, preventive compliance and independent resourcing to reduce regulatory and reputational risk.
Regulatory emphasis requires banks to embed a robust compliance function within corporate governance, beginning with tone at the top and board oversight; ensure senior management accountability, clear role demarcation across business units and assurance functions, preventive and forward looking compliance activities, continuous communication, incentive alignment, and a well resourced, independent compliance unit with direct board access subject to periodic review. Cybersecurity risks to confidentiality, availability and integrity must be prioritised within compliance frameworks.

Auction of government securities: re-issue via price-based multiple-price auction with non-competitive bids and electronic submission required.
Re-issue auctions for four central government stocks will be conducted by the Reserve Bank of India through price-based, multiple-price auctions with specified notified nominal amounts and an option to retain additional subscriptions within an overall limit. Both competitive and non-competitive bids must be submitted electronically on the E-Kuber system within prescribed time windows; up to a capped share of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Stocks will be eligible for "When Issued" trading under RBI guidelines.

Credit support and transmission measures improve bank lending access, NBFC tie-ups and repo-linked loans to boost affordable credit.
Finance Minister reviewed implementation of measures to support credit flow, noting strengthened disbursements to MSMEs, housing, NBFCs/HFCs, pool buy-outs and proposals under the Partial Credit Guarantee Scheme. Banks have adopted co-origination tie-ups with NBFCs, implemented weighted average rate cuts, and introduced repo-rate-linked loan products to improve transmission. Customer-facing reforms include online loan-tracking and mandated release of security documents post-closure, while OTS transparency and CVC-endorsed Internal Advisory Committees aim to streamline resolution and protect bona fide commercial decisions. Boards of banks have given in-principle approval to amalgamation proposals with commitments to maintain business continuity and employee protections.

Government securities re-issue auction: price-based, multiple-price method with non-competitive facility and central bank electronic bidding.
Auction announcement for re-issuance of multiple central government securities with notified nominal amounts, a collective notified limit and an option for the issuer to retain additional subscriptions. Sales will be by price-based auction using the multiple price method, with a portion of each notified amount reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility.

On-tap licensing of Small Finance Banks: draft guidelines released, public consultation invited with submission deadline and contact instructions.
Draft guidelines have been issued for on tap licensing of Small Finance Banks in the private sector, creating a continuous licensing route with specified application procedures and licensing criteria. Stakeholders and the public are invited to submit comments and suggestions to the Chief General Manager, Department of Banking Regulation, Reserve Bank of India, at the Central Office address or by email; a submission deadline and contact instructions are provided in the release.

Fixed income market development requires stronger liquidity measures, risk management reforms and wider market access to deepen participation.
The address sets out market-development priorities to deepen the fixed income market by promoting a wider product range, transparency, genuine liquidity and robust risk management; recommends targeted market-making, securities lending and interoperable depositories, consolidation of government debt, calibrated widening of non-resident investor access, reforms to margin and collateral treatment toward global standards, phased LEI implementation for large borrowers, and enhancements to payment market infrastructures and settlement timings.

Advance Pricing Agreements strengthen non-adversarial transfer pricing framework, enhancing certainty for cross-border transactions across multiple industry sectors.
The Central Board of Direct Taxes has executed multiple Advance Pricing Agreements, both bilateral and unilateral, covering specified international transactions-such as contract manufacturing, software and back office services, royalties, trading, intra group services and financing-across diverse industry sectors, using APAs to pre determine transfer pricing methodologies and promote a non adversarial, transparent framework that reduces disputes and provides tax certainty for cross border operations.

Government capital infusion enables IDBI Bank turnaround via recap bonds, supporting cleanup and exit from supervisory restrictions.
Cabinet approved a one time government capital infusion into IDBI Bank via a cash neutral recap bond arrangement-Government infuses capital and the bank buys the recap bond the same day-to complete legacy asset remediation, strengthen capital, enable resumption of normal lending and profitability, and facilitate eventual recovery of the investment while helping the bank exit the Prompt Corrective Action framework and raise further capital.

Bank consolidation creates larger state-owned lenders, merging several public sector banks to strengthen capital and scale.
The government announced a major bank consolidation reducing public sector banks from twenty-seven to twelve by merging specified banks-United Bank of India and Oriental Bank of Commerce into Punjab National Bank; Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; Andhra Bank and Corporation Bank into Union Bank of India-to concentrate lending capacity, create larger state-owned lenders and enhance scale and competitiveness.

Government securities auction using multiple-price method, with reserved non-competitive allocation and electronic E-Kuber bidding.
Price-based, multiple-price auctions for re-issue of five Central Government stocks are announced with a combined notified amount and a government option to retain additional subscriptions. Up to a fixed percentage of each stock is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the central bank's E-Kuber system within specified time windows on the auction date. Results and payment occur on the stated subsequent dates, and allotted stocks are eligible for When Issued trading under the central bank's guidelines.

Budgetary receipts and expenditure composition reported, highlighting tax devolution, revenue versus capital outlays, interest and subsidy burdens.
Consolidated monthly accounts report central fiscal flows, breaking receipts into Tax Revenue, Non Tax Revenue and Non Debt Capital Receipts (loan recoveries and disinvestment), and noting the realized share of budgeted receipts. It records transfers to states under Devolution of Share of Taxes with a decline versus the prior period. Expenditure is divided into Revenue and Capital accounts, with Revenue Expenditure driven by Interest Payments and Major Subsidies, enabling assessment of mid year fiscal performance against budget estimates.

Surplus distribution policy updated: realized equity target set and excess provisions transferred to government under revised ECF.
The Central Board adopted the Committee's revised Economic Capital Framework, distinguishing realized equity from revaluation balances, endorsing Expected Shortfall for market risk, defining a Contingent Risk Buffer to be maintained within a specified range of the balance sheet, and finalizing 2018-19 accounts so that excess risk provisions were written back and net income transferred to the Government.

Government securities auction re-issue offers four reissued stocks via multiple-price auction with non-competitive allocation and e-bidding.
Sale (re-issue) of four Central Government securities will proceed via price-based auctions using the multiple price method, with the Government able to retain additional subscriptions within a specified cap. Up to five per cent of notified amounts is reserved for eligible individuals and institutions under the non-competitive bidding facility. Competitive and non-competitive bids must be submitted electronically on the central bank's E-Kuber system within prescribed intra-day windows. Auction results and settlement occur on announced dates and the stocks are eligible for when-issued trading under central bank guidelines.

Debenture Redemption Reserve requirement removed for listed companies, NBFCs and HFCs to lower capital costs.
The amendment removes the Debenture Redemption Reserve obligation for listed companies, NBFCs registered with the Reserve Bank and HFCs registered with the National Housing Bank, and reduces the DRR for unlisted companies while retaining a DRR safeguard for unlisted issuers to protect investor interests.