Banknote security features updated to deter counterfeiting, with committee review and public awareness measures implemented.
An ongoing programme updates banknote security features and designs in consultation with the central banking authority and other departments. A High Level Committee under the Directorate of Currency, with inter departmental representation, is tasked to examine security features and technologies for future banknote series. The central bank publishes guidance on identifying genuine banknotes on an official website and distributes posters, leaflets and conducts regional outreach to raise public awareness.

GDP growth broadly on expected lines; agriculture and industry moderated while services strengthened from trade and transport gains.
Growth in Q2 2014-15 was broadly in line with expectations, with real GDP at 5.3% for the quarter and 5.5% for H1. Agriculture moderated on account of a lower monsoon, industry slowed due to weaker IIP and manufacturing, while services strengthened from gains in trade, hotels, transport and communication and community, social and personal services.

Electronic payment obligations require taxpayers and duty payers to remit taxes and duties through mandated digital channels.
Electronic payment obligations require companies and non-corporate persons subject to tax audit provisions to pay income-tax electronically via internet banking or credit/debit cards. Central excise payers and service providers are mandated to remit duty electronically, with accredited importers required to e-pay import duty when a bill of entry meets the prescribed transaction threshold. Public sector banks, financial institutions and public sector insurance companies were directed to make staff, vendor, supplier, loan and investment payments by direct credit to accounts.

Non-binding memorandum of understanding enables prospective founding members to negotiate Articles of Agreement for a regional development bank.
India signed a non-binding Memorandum of Understanding making it eligible to negotiate the Articles of Agreement to constitute the Asian Infrastructure Investment Bank; signatories to the finalized Articles will be founding members. The MoU does not create binding membership, and shareholding allocations and formal membership terms will be decided after negotiations conclude. Membership is expected to provide access to resources for financing national and cross-border infrastructure projects.

Currency note production capacity increased via joint venture mill and security paper mill expansion, boosting domestic banknote supply.
A state of the art bank note paper mill is being established at Mysore as a joint venture between Security Printing and Minting Corporation of India Ltd. and Bharatiya Reserve Bank Note Mudran Private Limited to increase domestic banknote paper supply, with planned commissioning in the stated fiscal period. SPMCIL is also expanding the Hoshangabad Security Paper Mill by adding a new paper line to raise production capacity, with commercial production expected in the near term; these plans were disclosed in a parliamentary reply.

Chit fund regulation: central probe prompts prosecution under Companies Act and referral of findings to criminal investigators.
No provision in the Companies Act governs chit funds; regulation and registration of chit funds are governed by the Chit Funds Act and implemented by State Governments. States register chit fund entities and enforce compliance, while the Central Government investigated multiple companies for alleged Companies Act violations and decided to prosecute them under the Companies Act and to share findings with the criminal investigative agency.

Special Economic Zone incentives stay uniform; de-notification requires duty repayment and state NOC, MAT and DDT exemptions denied.
SEZ fiscal concessions and duty exemptions arise from the SEZ Act, 2005 and Rules, 2006 and apply uniformly as export incentives. The Board of Approval has de-notified/cancelled several notified and in principle SEZs for inadequate developer progress; de-notification is subject to payment of applicable duties and tax benefits availed and receipt of a State No Objection Certificate. Requests to restore exemptions from Minimum Alternate Tax and Dividend Distribution Tax were recommended by Commerce but not accepted by Finance.

Results Based Lending supports state skill program, linking disbursement to measurable training and program management outcomes.
A $100 million loan to Kerala's Additional Skill Acquisition Program was agreed under Results Based Lending, linking disbursement to outputs including market relevant vocational training, expanded access to quality training, increased private sector participation, and improved program management and monitoring. Complementary $1.5 million technical assistance was provided for capacity building, and ASAP's implementation relies on collaboration with industry and sector skills councils for curriculum, internships and placements.

Sanitation fund mobilises philanthropic and CSR contributions to finance prioritized toilet construction, hygiene, and waste management projects.
The Swachh Bharat Kosh channels philanthropic and CSR contributions into a single bank account to finance prioritized sanitation activities-construction and renovation of toilets, water supply, hygiene training, and waste management. A Governing Council, supported by a Secretariat and an Administrator, approves and prioritises projects proposed by line Ministries and states; implementation uses existing institutions and costing follows prevailing Centrally Sponsored Scheme norms. Monitoring requires quarterly progress reports to the Governing Council and Finance Minister; quarterly internal audit by the Chief Controller of Accounts and an annual statutory audit by auditors appointed by the Comptroller and Auditor General ensure financial accountability.

Public debt management adjustments reduced auction sizes and used repurchases to manage cash and liquidity conditions.
The quarterly report details issuance and repurchase operations for July-September 2014, including a strategy of re issues to build secondary market liquidity, emergence of one new 10 year benchmark, reductions in auctions based on the Government's cash position, and targeted repurchases to utilize surplus cash. It describes the debt composition and maturity profile-highlighting internal debt and marketable securities dominance, a limited share of short residual maturities and consequently low rollover risk-and notes comfortable liquidity conditions with occasional recourse to Ways and Means Advances.

Official Development Assistance loan commitment enables construction of urban sewerage infrastructure and strengthens bilateral development cooperation.
Official Development Assistance loan commitment from Japan to India for the Guwahati Sewerage Project effected by an Exchange of Notes between designated government officials, confirming JICA financing for urban sewerage infrastructure and reflecting continuation of bilateral development cooperation and strategic partnership.

Exchange rate notification fixes official currency conversion rates for import and export valuation under customs rules.
Determination of rates of exchange for conversion between specified foreign currencies and Indian rupees, prescribing separate rupee conversion rates for imported goods and for export goods through two annexed schedules, and superseding the immediately preceding notification, with prospective application except as to past actions.

National Pension System expansion: state adoption and regulatory strengthening to protect subscriber interests through new regulations and measures
The PFRDA reports marked expansion of the National Pension System with increased subscriber numbers and state adoption, and, following the PFRDA Act, has statutory authority to develop the pension sector and frame regulations. PFRDA is preparing regulations focused on fund management, grievance handling and risk mitigation, directing State Nodal offices to maintain accurate subscriber records and to synchronise information and funds. The shift to a Defined Contribution model centralises subscriber interest and requires coordinated regulatory oversight, operational innovation and stakeholder feedback to safeguard subscribers through entry, accumulation and exit.

Quarterly performance review of public sector banks to assess credit growth, asset quality and financial inclusion measures.
Secretary, Department of Financial Services will hold a quarterly review with chief executives of public sector banks and financial institutions focusing on overall credit growth-notably agriculture, MSE, housing, education and lending to minorities and weaker sections-and on capital adequacy, non performing assets, recovery, stalled/new projects, financial inclusion, Pradhan Mantri Jan Dhan Yojana, Direct Benefit Transfer and Unique Identification interface.

Advance payment of income tax encouraged; use authorised bank branches or online channels to avoid year end congestion.
An appeal urging advance remittance of income tax dues before the due date and recommending use of authorised agency banks or their online payment facilities to avoid long queues and year end congestion; the notice notes heavy year end pressure on receipt issuance and that additional counters are provided when possible.

Appointment of Alternate Governor: Finance Secretary named India's representative on the Asian Development Bank's Board of Governors.
The central government designated the serving Finance Secretary as India's Alternate Governor on the Board of Governors of the Asian Development Bank, replacing the prior incumbent and conferring responsibility as India's alternate voting and policy representative in the Bank's highest governance body.

Appointment of Alternate Governor: India designated its finance secretary to represent it on African Development Bank boards.
The Government designated the Finance Secretary as India's Alternate Governor on the Board of Governors of the African Development Bank and African Development Fund, effective in late October 2014, replacing the prior officeholder and thereby assigning India's representation rights and duties on those Boards.

Swavalamban pension inclusion urged banks to mobilise accounts through PMJDY integration and aggregator outreach rapidly.
Banks were urged to treat the Swavalamban initiative as a mission-mode programme, leveraging branch networks, human resources and customer databases to open targeted accounts and achieve stipulated enrollment goals. Aggregators including Public Sector Banks, Regional Rural Banks, MFIs and NBFCs are identified as critical implementing partners to expand outreach into MSME, agricultural and rural segments and the unorganised workforce, with integration into the Pradhan Mantri Jan Dhan Yojana and a Government co-contribution incentive to eligible accounts.

Domestic savings: government urges investing in relaunched Kisan Vikas Patra as safe small savings alternative to Ponzi schemes.
The government urges increased domestic savings by promoting safe, simple, and accessible Government small savings schemes as secure alternatives to privately run Ponzi schemes, announces the re-launch of the Kisan Vikas Patra to attract small savers, and plans initial operation through the postal network with later extension to banks to advance financial inclusion and mobilise funds for development.

Infrastructure collaboration platform facilitates U.S. industry participation in Indian infrastructure projects to enhance bilateral commercial ties.
A bilateral Memorandum of Understanding establishes an Infrastructure Collaboration Platform to coordinate government cooperation to facilitate U.S. industry participation in Indian infrastructure projects, aiming to strengthen bilateral commercial ties and deliver mutual economic benefits; it was signed by the Department of Economic Affairs for India and the U.S. Department of Commerce, with multiple Indian infrastructure ministries participating to enable inter-ministerial coordination and project facilitation.