Government borrowing plan for H1 mandates weekly dated security auctions across specified maturities and FRBs, with switching and greenshoe options.
The Government finalised its H1 borrowing programme, scheduling dated securities in 26 weekly tranches across specified maturities and fortnightly Floating Rate Bonds, enabling switching to smooth redemptions and a greenshoe option for additional subscriptions. Treasury Bill issuance will follow weekly auctions across 91 , 182 and 364 day bills in Q1, with net quarter borrowing projected. The central bank's Ways and Means Advances limit for the half year is established, and a joint Framework for Sovereign Green Bonds issuance is being prepared.

Treasury bill issuance schedule set for Apr-Jun quarter with auctions specified and flexibility to modify timing and amounts.
The calendar sets notified amounts and regular auction dates for 91 day, 182 day and 364 day Treasury Bills for the Apr-Jun 2022 quarter, with aggregate totals for the quarter. The Government, in consultation with the central bank, may modify amounts or timing in response to requirements and market conditions after giving market notice, and auctions remain subject to the governing general notification and procedural terms.

Government receipts and expenditure review shows composition of central fiscal flows and devolution to states under the budget framework.
Consolidated monthly accounts present Union Government receipts comprising Tax Revenue (Net to Centre), Non Tax Revenue and Non Debt Capital Receipts, with substantial transfers to States as Devolution of Share of Taxes; total expenditure is classified into Revenue Expenditure and Capital Expenditure, with principal revenue items being interest payments and major subsidies, reflecting the composition and realisation of budgeted central fiscal flows up to the reporting month.

Electoral bond eligibility limits purchasers and confines encashment to authorised bank accounts, with invalid expired bonds unpaid.
Sale and encashment of Electoral Bonds under the Electoral Bond Scheme, 2018 is limited to eligible purchasers who are Indian persons and to Political Parties meeting the prescribed vote-share registration criterion; bonds must be encashed only through an account with the Authorized Bank. The Authorized Bank is designated to issue and encash bonds via specified Authorized Branches during the notified sale window. Bonds deposited after the prescribed validity period will not be paid; eligible parties' valid deposits are credited the same day.

Monetary Policy Committee schedule under Section 45ZI announced; meetings fixed across the 2022-23 policy year.
The Monetary Policy Committee meeting schedule is prescribed under Section 45ZI of the Reserve Bank of India Act, 1934, and sets the specific dates for Committee meetings during the 2022-23 policy year to consider and decide on monetary policy matters.

Cross-border UPI expansion enabling international acceptance of BHIM UPI QR and models for central bank cooperation.
Reserve Bank of India facilitation measures for UPI internationalisation include NPCI International Payments Limited promoting cross border acceptance of BHIM UPI QR and three engagement models: Central Bank to Central Bank cooperation by agreement or MoU; Central Bank facilitated arrangements between networks and foreign central banks or agencies; and network to network arrangements. UPI123Pay launch metrics reporting onboarding, balance checks, successful transaction counts, and transaction value are provided as initial operational data.

Central bank innovation: RBI establishes a wholly owned hub to foster inclusive financial sector prototypes and startup mentorship.
Reserve Bank of India has established the Reserve Bank Innovation Hub (RBIH) as a wholly owned subsidiary in Bengaluru to build an ecosystem for prototypes, patents and proofs of concept, mentor high potential start ups, and promote cross domain collaboration with industry, academia and Government to develop solutions that broaden access to financial services, particularly for low income and underserved populations, under the guidance of an independent Board.

Foreign Direct Investment openness: policy permits full foreign ownership under the automatic route and requires state-level equity reporting.
The Government reports total FDI inflow for 2021 as comprising equity inflow, equity capital of unincorporated bodies, re invested earnings and other capital, with state wise details maintained only for the equity component. The policy framework is investor friendly: most sectors are open to full foreign participation under the automatic route, the FDI policy is periodically reviewed after stakeholder consultations, and recent sectoral reforms have been undertaken; an annexure provides state wise equity inflow figures for January-December 2021.

Emergency Credit Line Guarantee Scheme provides full guarantee for qualifying MSME loans, easing credit access with capped interest.
Emergency Credit Line Guarantee Scheme provides fully guaranteed, collateral free additional credit to eligible MSMEs and other businesses through Member Lending Institutions via pre approved loans without fresh appraisal, with capped interest and no processing, pre payment or guarantee fees, and the scheme's operational period has been administratively extended.

FDI from neighbouring countries flagged for beneficial owner scrutiny, with approvals and sectoral investments disclosed by government.
Since 18 April 2020 the Government received 347 FDI proposals from countries sharing a land border with India or where the beneficial owner is such a citizen, totaling about INR 75,951 crore; 66 proposals were approved, 193 were rejected/closed/withdrawn, and the 66 approved proposals total approximately INR 13,624.88 crore across specified sectors.

Atal Pension Yojana enrollment expands as regulatory administration intensifies outreach and capacity-building to broaden pension coverage.
Atal Pension Yojana permits joining between ages 18 and 40 with pension payable after age 60; administered by a regulatory authority as a statutory social security measure. The administrator has pursued outreach via collaboration with regional banks and local banking committees, periodic implementation reviews with banks, capacity building of bank staff and banking correspondents, and ongoing print and electronic advertising to increase enrolment and awareness.

Interest subsidy and cashback scheme for urban street vendors ensures direct lender disbursal and digital transaction incentives.
PM SVANidhi is a central-sector lending and incentive framework where lending institutions directly disburse loans to eligible urban street vendors, while the Centre does not transfer funds to States. The scheme provides an interest subsidy paid by direct benefit transfer on timely repayment and a monthly cashback incentive to promote digital transactions; beneficiaries bear any interest beyond the subsidy. Eligibility is determined by urban local bodies and town vending committees through certificates, survey identification, or Letters of Recommendation for vendors including peri-urban vendors within ULB limits.

Budget policy encourages youth entrepreneurship and digitisation, and invites industry consultations on cryptocurrency regulation and innovation.
The Budget emphasises fostering youth entrepreneurship and technological skills to promote employment and innovation, links budgetary intent to a technology-driven economy, highlights digital banking and direct benefit transfers as tools for financial inclusion and efficiency, and signals ongoing consultations with the cryptocurrency industry inviting stakeholder participation to inform future regulatory approaches.

Flexible inflation targeting anchors policy while communicating forward guidance to balance inflation control and support growth.
The address traces India's monetary policy evolution to the statutory adoption of Flexible Inflation Targeting, under which headline CPI is the nominal anchor and the repo rate is set by a Monetary Policy Committee with explicit transparency and accountability measures. It emphasises communication as a core policy instrument-using forward guidance, MPC resolutions, minutes and reports-to shape expectations. During the pandemic the Reserve Bank combined targeted liquidity operations, G SAP, VRRR auctions and time bound unconventional measures operating in the secondary market to support growth while preserving collateral standards and anchoring inflation expectations.

Sustainable lending policy required for IFSC lenders, mandating board approved frameworks, asset allocation and mandatory reporting for non compliance.
IFSCA's draft guidance directs IFSC Banking Units and Finance Companies/Finance Units undertaking lending to adopt a Board approved policy on green, social, sustainable and sustainability linked lending aligned with recognised international standards. The policy must cover borrower assessment, use of proceeds identification and documentation, project evaluation and selection, management and monitoring of proceeds, reporting, verification, and de classification criteria. Entities will be required to implement the policy within a prescribed period and allocate a minimum share of loan assets to eligible green/social/sustainable sectors from the designated compliance year; any inability to meet targets must be reported to the Authority with reasons.

Treasury bill auction schedule revised; government retains flexibility to modify notified amounts and timing with market notice.
The revised auction calendar specifies weekly Treasury Bill auctions for the remaining part of Quarter 4 of 2021-22 across 91 day, 182 day and 364 day tenors with notified issuance amounts, and states that auctions will be conducted under the standard auction terms. The Government of India, in consultation with the Reserve Bank of India, retains flexibility to modify the notified amount and timing of auctions for cash management and market reasons after giving due notice, and the calendar is subject to change with such changes announced by press release.

Sovereign Gold Bond pricing: online applicants paying digitally receive a per gram discount from the issue price.
Announcement sets the Sovereign Gold Bond issue price per gram as published by the issuing authority for the subscription period and states that a per gram discount will apply where investors both apply online and make payment through digital mode, reducing the effective issue price for those eligible digital subscribers.

Account Aggregator Framework urged to expand digital lending and seamless credit flow for small borrowers nationwide.
The Finance leadership urged adoption of the Account Aggregator Framework to enable seamless credit flow and promote digital lending, directing replication of Account Aggregator and cashflow-based lending pilots across regions. Emphasis was placed on widening digital banking and payments, opening Jan Dhan accounts for unbanked adults, ensuring insurance and pension coverage, and leveraging budget-linked opportunities alongside measures such as subordinated debt for MSMEs and the enhanced Emergency Credit Line Guarantee Scheme to support stepped-up lending.

Government securities auction opens with re-issues using uniform and multiple price methods; non competitive bids allowed and when issued trading permitted.
Re-issue auctions are announced for three Central Government securities with specified maturities and notified amounts to be sold using the uniform price method for two issues and the multiple price method for one, with a government option to retain additional subscriptions. Up to five percent of each issue is reserved under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically through the designated bid submission system within prescribed time windows; auction results and payment/settlement dates are pre-announced. Securities will be eligible for When Issued trading under existing guidelines.

Open ecosystem drives fintech interoperability and financial inclusion through Account Aggregator adoption and digital public infrastructure.
The document emphasizes promotion of an OPEN ecosystem-publicly funded interoperable platforms like UPI and the Account Aggregator network-to enable private entrepreneurs and developers to build composable financial services that advance financial inclusion across Tier 2 and Tier 3 markets. It highlights market-development measures encouraging solution-oriented start-ups, embedded finance via APIs, and platform-led expansion, and stresses governance and access measures to onboard underserved users and women entrepreneurs while leveraging digital public infrastructure for scale.