ATM security: banks must use digital OTC locks, grout machines and deploy e surveillance to curb cash theft.
RBI directed banks to strengthen ATM safety by mandating use of lockable cassettes for top ups and issued instructions requiring operation of cash replenishment only with digital One Time Combination (OTC) locks, grouting ATMs to fixed structures except in highly secured premises, and consideration of comprehensive e surveillance at ATM sites to ensure timely alerts and quick response.

Waiver of charges on NEFT and RTGS reduces transaction costs and urges banks to pass benefits to customers.
Waiver of processing and time varying charges took effect from July 1, 2019: the central bank removed processing charges and time varying fees for outward RTGS transactions and processing charges for NEFT, and advised banks to pass benefits to customers to reduce costs and promote digital fund movement.

Minimum KYC for prepaid payment instruments enables limited-use wallets with deferred full verification, promoting digital payments adoption.
The regulatory framework permits issuance of Prepaid Payment Instruments (PPIs) on the basis of minimal customer details for a limited period, during which full KYC must be completed; if KYC is not completed within the prescribed period, no further loading is permitted though existing balances may be used to purchase goods and services. This operates alongside government incentive measures reimbursing merchant charges for small-value UPI and related transactions to promote wider adoption of digital payments.

Fraud detection framework tightens bank oversight, mandating NPA fraud scrutiny, willful default probes and intelligence reporting.
A Framework for timely detection, reporting and investigation mandates banks to examine all NPA accounts above the specified threshold for possible fraud, present findings to internal review committees, initiate examination for wilful default on reporting to the central bank, and seek intelligence bureau reports where appropriate; complementary measures include passport verification of promoters/directors, publication of wilful defaulter photographs under board policy, rotational transfers of officials, empowerment to request Look Out Circulars, creation of a Central Fraud Registry, straight-through processing between core banking and messaging systems, establishment of the National Financial Reporting Authority, and enactment of the Fugitive Economic Offenders Act, 2018 for attachment and confiscation of fugitive assets.

Recognition and resolution of NPAs via 4R strategy and IBC strengthens recovery and bank asset discipline.
The Government's 4R's strategy - recognition, resolution, recapitalisation and reforms - together with the RBI's Asset Quality Review and use of the Insolvency and Bankruptcy Code (IBC), led to transparent reclassification and provisioning of stressed accounts, strengthened loan approval and monitoring procedures, deployment of third party due diligence, specialised monitoring for large exposures, and online one time settlement platforms, measures reported to improve recovery and reduce gross NPAs of public sector banks in provisional RBI data.

NBFC liquidity measures expanded regulatory relief and injected durable liquidity to ease funding stress and support market access.
RBI implemented supervisory and regulatory measures to address NBFC funding stress, including liquidity injections via open market and LAF operations; temporary treatment of incremental bank credit to NBFCs and HFCs as high quality liquid assets for LCR; a temporary relaxation of single-borrower exposure limits for non-infrastructure NBFCs; permission for partial credit enhancement by banks; reduced minimum maturities for eligible external commercial borrowings in infrastructure; relaxation of minimum holding periods to encourage securitisation; MSME restructuring concessions; and a requirement for large NBFCs to appoint a Chief Risk Officer.

Bank fraud detection framework tightened to mandate systemic NPA fraud reviews and prompt willful default investigations.
The Framework for timely detection, reporting, investigation etc. relating to large value bank frauds mandates systemic review of legacy NPAs, examination of large NPA accounts for possible fraud, initiation of willful default probes upon reporting, and seeking intelligence reports where accounts turn NPA; banks must obtain certified identity documents of key borrower personnel, consider publishing photographs of wilful defaulters, ensure rotational staff transfers and seek Look Out Circulars as needed.

Fugitive Economic Offenders Act strengthens asset attachment and bars fugitives from defending civil claims in fraud cases.
The government established measures to curb bank frauds by mandating examination of NPA accounts exceeding Rs. 50 crore for possible fraud, requiring certified passport copies of promoters, directors and authorised signatories for large loans, empowering bank heads to request Look Out Circulars and to publish photographs of wilful defaulters, and deploying the Fugitive Economic Offenders Act to permit attachment and confiscation of property and disentitlement from defending civil claims for offenders evading Indian jurisdiction.

Strategic Economic Dialogue advances bilateral cooperation across transport, agriculture, SME support, digital technologies and tourism.
The Second India-Russia Strategic Economic Dialogue will convene to coordinate bilateral cooperation across six sectors: transport infrastructure and technologies; agriculture and agro processing; small and medium enterprise support; digital transformation and frontier technologies; trade, banking, finance and industry cooperation; and tourism and connectivity. The forum was established pursuant to a Memorandum of Understanding between the Indian planning body and the Russian economic ministry to institutionalise strategic economic engagement.

Government securities auction: multiple-price issuance with non-competitive allotment and electronic bidding via central banking system, scheduled settlement.
Announcement of multiple Central Government stock sales by yield based and price based auctions using the multiple price method, with a combined notified amount and government option to retain additional subscriptions. Auctions will be conducted by the Reserve Bank of India, with both competitive and non competitive bids submitted electronically on the RBI Core Banking Solution (E Kuber) within prescribed time windows; up to a specified portion of each notified amount is reserved for non competitive allotment, auction results will be announced on the auction date and payment/settlement will occur on the subsequent business day. Stocks are eligible for When Issued trading under RBI guidelines.

Government Reserve Bank coordination emphasised; Finance Minister outlined budget priorities and RBI approved its medium term strategy.
Government-Reserve Bank coordination was emphasised in the Finance Minister's address, which outlined Union Budget priorities and sought closer engagement between fiscal authorities and the central bank. The Board finalised a three year Medium Term Strategy defining the Bank's mission and vision, approved the Bank's budget for the upcoming period, and reviewed operational issues including currency management and payment systems.

Capital adequacy requirements prompt public banks and government to arrange additional capital support to bolster lending capacity.
Public sector banks must satisfy minimum capital adequacy measured by the Capital to Risk-weighted Assets Ratio (CRAR); as of 31 March 2019 all 18 PSBs met the regulatory minimum. The Union budget proposed government capital support to strengthen PSB balance sheets; individual banks may also raise equity from markets via routes such as Qualified Institutional Placement. PSB capital originates from internal generation, market mobilisation, and government infusion, with government contributions complementing other sources.

Basic savings account free minimum facilities must be provided; optional services may be priced but cannot remove account status, and RTGS/NEFT charges waived.
Basic Savings Bank Deposit Accounts (BSBDA) must provide specified basic facilities free of charge without any minimum balance, including cash deposits, electronic credits, unrestricted deposits, four withdrawals monthly, and an ATM/debit card. Banks may offer optional value added services priced non discriminatorily with disclosure, but such offerings must not remove BSBDA status. For other accounts, banks may fix Board approved reasonable service charges with prior customer notice. RBI waived its processing and time varying charges on RTGS and NEFT effective July 1, 2019, and advised banks to pass benefits to customers.

Grievance redressal for banking intermediaries: unresolved customer complaints may escalate to external redressal after the prescribed period.
Banks under the Pradhan Mantri Jan Dhan Yojana use branches and Business Correspondents/Bank Mitras to provide basic banking in mapped Sub Service Areas. Banks may set up Customer Care Centres and, per the Reserve Bank of India's directive dated 1.7.2014, must implement technology based risk management for intermediaries and maintain a Grievance Redressal Machinery with publicised contact details; unresolved complaints may be externally escalated under existing RBI frameworks.

Capital adequacy requirement: banks meet CRAR and credit assessments project continued improvement in asset quality next year.
Banks are required to maintain a minimum Capital to Risk-weighted Assets (CRAR) and, as reported, Public Sector Banks and Private Sector Banks met this regulatory minimum; aggregate CRAR levels for Scheduled Commercial Banks and for Public Sector Banks exceed the minimum requirement. Asset quality has shown deceleration in gross NPA growth after a prior peak and is projected under baseline macro-stress scenarios to decline further, a view supported by independent credit rating agency analyses cited in an official legislative reply.

Discount on Sovereign Gold Bond issue price allowed for online digital payments, reducing investor cost during subscription.
The Issue Price for Sovereign Gold Bond Scheme 2019-20 (Series II) is fixed for the subscription window at Rs. 3,443 per gram with Settlement Date 16 July 2019 and subscription period 8-12 July 2019. A per gram discount is authorised for investors who apply online and pay via digital mode, resulting in a reduced issue price for such eligible applicants as decided by the Government in consultation with the Reserve Bank of India.

Medium of examination expanded to include regional languages, allowing candidates to choose state language alongside English and Hindi.
The finance ministry announced expansion of the medium of examination for direct recruitment to Officers (Scale I) and Office Assistant (Multipurpose) in RRBs: in addition to English and Hindi, examinations will be offered in 13 specified regional languages, allowing candidates to choose the regional language of the State they have opted for as their examination medium, to level the playing field and enhance local recruitment effectiveness.

Investment-driven growth model to catalyse a virtuous cycle of savings, investment, exports and jobs for sustained GDP growth.
Economic Survey promotes an investment-driven growth model to catalyse a virtuous cycle of savings, investment, exports, productivity and jobs. It prioritises private investment supported by legal and institutional reforms, completion of financial-sector clean-up and a focused MSME incentive structure that avoids perverse size-based benefits. The Survey stresses exports as integral to demand, recommends modest real rate reductions to spur investment, and calls for data-driven, behavioural-economics informed policy consistency to enable the transition to sustained high growth.

Insolvency and Bankruptcy Code strengthens debt recovery and prompts scaling up of NCLT infrastructure system.
The Insolvency and Bankruptcy Code has strengthened debt recovery by producing multiple corporate resolutions and improved recovery rates, prompting proposals to scale up the National Company Law Tribunal and appellate capacity. Complementary reforms include capacity building through a Graduate Insolvency Programme, steps toward adopting the UNCITRAL Model Law on Cross Border Insolvency, and working groups on group and individual insolvencies to develop cross border and group restructuring frameworks.

Services sector growth moderated; tourism and services exports slowed, affecting trade balance and FDI flows.
The Economic Survey reports a moderation in the services sector's growth while it continues to outpace agriculture and manufacturing; key decelerating sub-sectors include tourism, trade, hotels, transport, communication and broadcasting-related services, whereas financial, real estate and professional services accelerated. Services exports and imports slowed in the April-December period, with a services trade surplus driven mainly by Computer & ICT services and travel. FDI equity inflows into services remain the majority of total FDI equity inflows, recording a slight decline due to weaker flows into telecom, consultancy and transport despite stronger inflows in education, retail trading and information & broadcasting.