Repo rate increase tightens monetary stance to check inflation and support currency stability.
The policy raises the short-term lending rate by a further 50 basis points, with the Monetary Policy Committee deciding to withdraw the accommodative stance to check inflation while retaining retail inflation and GDP growth projections; the statement notes large portfolio outflows and rupee depreciation attributed mainly to a stronger US dollar, reliance on foreign exchange reserves and a sound financial sector as buffers, and activation of a mechanism for NRIs to use the Bharat Bill Payment System for family payments.

Monetary policy rate increase to tighten accommodation and rein in inflation while supporting economic growth.
The Monetary Policy Committee decided to raise the policy repo rate with corresponding adjustments to standing facility rates and to pursue withdrawal of accommodation to ensure inflation is brought within the medium term inflation target while supporting growth. The decision was taken in light of CPI inflation persisting above the tolerance band, elevated core inflation, resilient domestic demand, surplus liquidity conditions, and risks from global monetary tightening and commodity volatility. The resolution records the Committee's voting positions and signals further minutes and future meetings.

Acquisition approval: CCI clears transfer of control of IDFC Asset Management and its trustee to a consortium of investors.
The Competition Commission of India approved a combination under which Bandhan Financial Holdings, Lathe (GIC linked) and ChrysCapital entities will acquire 99.96% of IDFC Asset Management Company Limited and 100% of IDFC AMC Trustee Company Limited, effecting a change of control of the asset management, portfolio management and AIF investment management activities related to IDFC Mutual Fund; the parties' group relationships and roles are identified and a detailed CCI order will follow.

Government securities auction opens re-issue sales; competitive and non-competitive bids via e-Kuber with reserved allotment rules.
Re-issue auctions for four Central Government securities will be conducted with three offered under the uniform price method and one under the multiple price method; the Government may accept additional subscriptions against each security and up to five percent of each notified amount is reserved for eligible participants under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the RBI E-Kuber system within specified time windows on the auction day, results are announced the same day, payment falls on the prescribed settlement date, and the securities qualify for "When Issued" trading per RBI guidelines.

Public finance reporting: consolidated government receipts and expenditure, highlighting tax receipts, state devolution, revenue and capital outlays.
Monthly consolidated accounts up to June 2022 present total receipts made up of Tax Revenue (Net to Centre), Non Tax Revenue and Non Debt Capital Receipts (loan recoveries and miscellaneous capital receipts), and note increased Devolution of Share of Taxes to states. Total expenditure is split into Revenue and Capital Accounts, with Revenue Expenditure dominated by Interest Payments and Major Subsidies.

FDI policy liberalisation expands automatic-route manufacturing investment and RBI measures bolster forex inflows, increasing foreign investment confidence.
FDI policy permits up to 100% foreign investment under the automatic route in most sectors and treats manufacturing as eligible whether by self-manufacturing or contract manufacturing, allowing sale via wholesale, retail and e-commerce without approval. Complementary monetary and regulatory measures-including CRR/SLR exemptions for incremental NRE/FCNR(B) deposits, temporary deposit interest flexibility, inclusion of specified G-Secs under a fully accessible route for investors, temporary ECB limit increases and broader permitted end-uses for foreign currency borrowings-have been implemented to enhance forex inflows and support higher FDI.

FDI policy liberalisation: automatic route for non sensitive sectors with approval and security clearance for strategic investments.
The regulatory framework permits FDI up to 100% via the automatic route in non-sensitive sectors, while investments in designated sensitive or strategic sectors and certain country-origin investments require prior government approval or security clearance. All foreign investments must comply with entry route conditions, sectoral caps and attendant conditions, sectoral laws, Companies Act requirements, pricing and documentation norms, and reporting obligations.

Government securities auction: re-issue of dated bonds via uniform and multiple price methods with non-competitive quota.
Re-issue auctions announced for four Government securities with specified notified nominal amounts, primarily via price based auctions using the uniform price method, and one via the multiple price method; the Government may retain additional subscription against each security. 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 E-Kuber within prescribed windows. Auction results, payment timing, and eligibility for When Issued trading under RBI guidelines are specified.

Government securities auction re-issue using uniform and multiple price methods; non-competitive allocation and specified bidding and settlement schedule.
Re-issue of Government securities will be conducted by auction using uniform price and multiple price methods; the Government may retain additional subscription. Up to five percent of each notified amount is allotted to eligible participants under the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within specified morning windows. Auction results will be announced on the auction date and successful bidders will make payment on the notified settlement date. The securities are eligible for When Issued trading per RBI guidelines.

Government securities auction re-issue: uniform and multiple price methods with non-competitive allotment and when-issued trading eligibility.
The Government announced re-issue auctions of four specified Government Securities with designated notified amounts, conducted by the Reserve Bank of India using uniform price and multiple price methods; the Government may retain additional subscription for each security. Up to 5% of each issue is reserved for eligible participants under the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically via the E-Kuber system within prescribed time windows on the auction date. Results are announced same day and payments on the notified settlement date. The securities are eligible for When Issued trading per RBI guidelines.

Government securities auction: re-issue of multiple dated securities using uniform and multiple price methods with non-competitive allocation.
Re-issue auction of multiple Government of India securities will be conducted via electronic bids on the Reserve Bank of India's E-Kuber platform with up to five percent of each notified amount reserved for eligible participants under the non-competitive bidding facility. The Government may retain additional subscriptions against each security. Three securities will be offered using the uniform price method and one using the multiple price method; separate bid submission windows for competitive and non-competitive bids are prescribed and the securities are eligible for When Issued trading under RBI guidelines.

Treasury bill auction schedule published; government retains flexibility to modify notified amounts and timing with prior notice.
The Government of India, with the Reserve Bank of India, announced a weekly auction calendar for 91 day, 182 day and 364 day Treasury Bills for the quarter ending September 2022, specifying auction and issue dates and aggregate notified supply per tenor. The Government and RBI retain flexibility to modify notified amounts and timing based on cash requirements and market conditions with prior notice, and all auctions are subject to the terms of the referenced General Notification as amended.

Electoral bond purchase and encashment rules: eligible persons may buy bonds and authorised bank branches issue and encash them.
Electoral Bonds may be purchased by Indian citizens or entities and received only by Political Parties registered under Section 29A of the Representation of the People Act, 1951 that secured not less than one per cent of votes in the last General Election; bonds must be encashed only through an account with an Authorized Bank. Specified authorized branches were designated to issue and encash bonds for the sale phase, bonds are valid for fifteen calendar days from issue, and deposited bonds shall be credited to the eligible party's account on the same day.

Computerization of Primary Agricultural Credit Societies expands a cloud-based common software platform to modernize rural cooperative service delivery.
The Cabinet-approved programme will computerize about 63,000 Primary Agricultural Credit Societies over five years to strengthen efficiency, transparency and service diversification. It establishes a cloud-based common software with cybersecurity and data storage, hardware provision, digitization, maintenance, training, state-customisable vernacular interfaces, central and state Project Management Units, and district-level support for PACS clusters. PACS that are already computerized may receive reimbursement if they integrate with the common platform and meet hardware and commissioning conditions.

Data quality and integrity: innovate collection, validation and modelling to preserve reliable official statistics for policy.
The address stresses the indispensable role of official statistics in policy and crisis response, urging innovation in data sources and collection modes, rigorous validation, and safeguarding data quality, privacy and security. It highlights challenges to modelling and forecasting caused by structural breaks and shifting assumptions during the pandemic, recommends using multiple techniques with timely updates, and describes the Reserve Bank's measures-streamlined data flows, technology investments, consistency checks and alternative collection channels-to preserve data integrity and fulfil reporting obligations.

Auction of government securities: re-issue offering using uniform and multiple price methods with non-competitive allocation and when issued trading eligibility.
Sale re-issues of four Central Government securities are to be conducted by price-based auction (uniform price method for most and multiple price method for one), with the Government able to retain additional subscriptions, an allocation up to five percent for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility, electronic bid submission via the Reserve Bank of India Core Banking Solution (E-Kuber) within prescribed time windows, and eligibility for When Issued trading under RBI guidelines.

Monetary policy tightening signals focus on inflation anchoring, liquidity withdrawal and transmission to deposit and lending rates.
The Governor explains the RBI's priority to combat rising inflation by withdrawing excess liquidity and using rate tools and the Standing Deposit Facility so policy rate changes transmit to overnight and lending rates; supply shocks underpin current inflation but anchoring expectations through communication and credible action is critical. Enhanced supervision, an integrated ombudsman scheme and a consumer committee aim to address mis selling and systemic issues, while external outflows and rupee moves are described as global spillovers amid resilient reserves and steady growth recovery.

Capacity Enhancement Plan expands PPP training to strengthen officials' skills for infrastructure project planning and implementation.
The Department of Economic Affairs' Capacity Enhancement Plan delivers offline and online training to strengthen officials' skills in planning, executing, and implementing infrastructure projects. Collaborative programmes, including a dedicated module on Public Private Partnerships (PPPs), partner with management, financial and multilateral institutions to equip participants with PPP structuring, procurement, financial management and governance competencies to support national infrastructure initiatives.

Government securities auction: mixed yield and price methods with reserved non competitive allotment and when issued trading eligibility.
The government announced auctions for four central government securities to be conducted by the central bank using yield based and price based methods with uniform and multiple price allocation; the government may retain additional subscription beyond notified amounts and up to a set share will be allotted under a non competitive bidding facility. Bids must be submitted electronically on the central bank's core banking system within prescribed time windows; auction results and payment dates are notified, and the securities are eligible for "When Issued" trading under applicable central bank guidelines.

Sovereign Gold Bond pricing: online applicants paying digitally receive a per-gram discount during the subscription period.
Sovereign Gold Bond Series I 2022-23 sets an issue price per gram for subscriptions opened June 20-24, 2022 with settlement on June 28, 2022; investors who subscribe online and pay through digital modes are eligible for a per-gram discount from the published issue price.