Separate Enforcement Department to centralize evidence based enforcement of regulatory breaches against banks.
A separate Enforcement Department will be opened to centralize enforcement of regulatory breaches by banks, separate oversight from punitive decision making, develop a broad enforcement policy, and initiate enforcement action against Regulated Entities consistent with that policy.

Rupee denominated bonds overseas: banks permitted to issue PDIs and Tier Two capital instruments for inclusion.
RBI permits banks to issue Perpetual Debt Instruments qualifying as Additional Tier 1 capital and debt instruments qualifying as Tier Two capital by way of rupee denominated bonds overseas, including under the extant framework incentivizing issuance of long term bonds for financing infrastructure and affordable housing.

Performance-linked appraisal overhaul: objectives cascaded, weights shifted toward work output, synchronized targets and online APAR mandated.
The 7th Central Pay Commission retained the annual increment rate and recommended withholding increments for employees who do not meet MACP or promotion benchmarks within the first twenty years; the Government has accepted these recommendations. The Commission mandated linking Departmental Results Framework Documents with APARs, requiring strategic objectives to be cascaded, objectives to be prioritised with success indicators and weights emphasizing work output over personal attributes, APAR indicators to be set with supervisors at year-start, RFD-APAR timeline synchronization, and an online APAR system for all Central Government officers and employees.

Direct Benefit Transfer expanded to include in kind transfers and enablers, bringing central welfare and subsidy schemes under DBT.
Direct Benefit Transfer is being expanded to cover cash and in-kind transfers and payments to scheme enablers, with over five hundred scheme components across multiple Ministries/Departments identified for phased on-boarding to a DBT platform; DBT Cells and a monitoring framework have been established to manage implementation.

International development bank cooperation advances sustainable finance and infrastructure through MOUs and seminars at annual meeting.
The New Development Bank's annual meeting emphasised multilateral cooperation and sustainable development finance, featuring a signing ceremony for five Memoranda of Understanding with other international development banks and thematic seminars on sustainable development financing (government and banking perspectives) and urban planning and infrastructure development to promote coordinated financing, knowledge sharing, and partnership mechanisms.

Simplified income tax return form enables streamlined e filing with Aadhaar linkage and auto filled tax data for salaried taxpayers.
Streamlined ITR process simplifies ITR 1/Sahaj by consolidating Chapter VIA deduction columns while retaining common deductions such as 80C investments and mediclaim; taxpayers may opt to declare other deductions. E filing for the simplified form will be enabled at the filing season start with auto filled TDS and an online tax calculator; PAN and Aadhaar (or proof of application) must be provided. High income taxpayers must continue asset disclosure. Eligible forms include ITR 1/Sahaj, ITR 2, ITR 2A for non business individual/HUF incomes and ITR 4S for presumptive business income.

Inclusive growth agenda coordinated through G 20 policy workstream, advancing indicators and templates for national growth strategies.
G-20 Framework Working Group met in Varanasi to advance the agenda on inclusive growth, a Report on strong, sustainable and balanced growth, and an enhanced structural reform agenda; it finalised a Note on economic resilience, reviewed international organisations' analyses on inequality and inclusive-growth indicators, discussed templates and timelines for 2017 Growth Strategy submissions, and recorded member interventions to refine policy tools ahead of the next FWG meeting in Buenos Aires.

Inclusive growth framework to guide country-specific policies and policy options addressing global economic challenges.
The G-20 Framework Working Group (FWG), co-chaired by India and Canada and hosted by the Department of Economic Affairs and the Reserve Bank of India, will examine challenges facing the global economy and deliberate policy options. A principal agenda item is developing an inclusive growth framework to guide country-specific inclusive growth policies and to assess policy instruments for equitable development within the G-20 dialogue.

Economic Corridor Development integrates infrastructure and policy reforms to boost regional integration and investment.
Economic Corridor Development leverages infrastructure connectivity, urbanization and regulatory reform to integrate markets and regional value chains. The East Coast Economic Corridor (ECEC) and its Phase 1 Visakhapatnam Chennai Industrial Corridor (VCIC) show how conceptual and regional plans support financing packages-multi tranche financing facility, grant and policy based loan-to fund priority infrastructure, policy reforms and institutional development, while SASEC and ADB planning promote cross corridor synergies and coordinated multi sector interventions.

Electoral bonds scheme creates bank-issued instruments purchasable by non-cash means and redeemable only into parties' designated accounts.
Introduction of an electoral bonds mechanism by amendment to the RBI Act enabling authorised banks to issue bonds purchasable only by cheque or digital payment; bonds are redeemable only into the designated account of a registered political party and only within a prescribed time limit from issuance.

Public sector bank reform enables capital infusion and procedural amendments to strengthen debt recovery mechanisms and tribunal efficiency.
Measures strengthen Public Sector Bank efficiency through KPIs tied to incentives, phased dilution via Follow-on Public Offers and Qualified Institutional Placements for capital needs, and a government capital infusion to meet Basel III norms. Recovery reforms amended procedures to enable time-bound adjudication, and a modernization program (e-DRT, digitization, online portal, IT upgrades) plus training and six new DRTs were introduced to speed debt recovery.

Banning of unregulated deposit schemes: draft law to prohibit illicit deposit taking and strengthen depositor protection.
A draft Central statute, the Banning of Unregulated Deposit Schemes and Protection of Depositors' Interests Bill, was prepared following an Inter Ministerial Group report identifying gaps in regulation of unauthorized deposit taking and was placed twice for public consultation; it seeks to prohibit unregulated deposit schemes and strengthen depositor safeguards. Separately, the Department of Consumer Affairs issued Model Guidelines for Direct Selling/MLM containing a Clause 8 that prohibits promotion, enrolment or participation in pyramid schemes and money circulation schemes disguised as direct selling.

Tax enforcement: undisclosed income admissions prompting assessments, penalties and prosecutions under the Income tax Act.
Searches based on credible evidence yielded admissions of undisclosed income and seizures; recovered material is investigated and shared with Assessing Officers who initiate assessment proceedings to assess total income, raise tax demands, levy penalties, recover dues, and, where appropriate, initiate prosecutions or process compounding applications, all within statutory confidentiality constraints.

Provisional attachment of benami property now authorized, enabling confiscation and penal sanctions under amended Act.
The amendment empowers specified authorities to identify, provisionally attach and ultimately cause confiscation of benami properties, prescribes imprisonment and monetary penalties tied to fair market value for benami offences, and brings various assets including bank deposits and immovable property within the attachment regime. The Government has notified Income tax authorities as Initiating Officers, Approving Authorities and Administrators and has notified an Adjudicating Authority to implement the amended law, with show cause notices issued and provisional attachments effected in multiple cases.

Promotion of digital payment incentives spurs electronic transactions and operational measures to widen cashless acceptance.
Government incentive schemes and operational measures aim to promote electronic payments: consumer and merchant prize schemes for transactions via AEPS, USSD, UPI and RuPay; district allocations from a central fund to convert Jan Dhan accounts to digital use with an incentive of Rs. 10 per individual after two successful digital transactions; NITI Aayog disbursed initial funds. Complementary actions include BHIM UPI launch, Unified USSD 2.0, Aadhaar Pay pilot approval, NETC RFID tolling approval, and temporary MDR caps for debit card transactions, guided by the RBI's Vision 2018 priorities.

Serious injury finding: no safeguard duty recommended after imports did not threaten domestic aluminium industry; customs duty adjusted.
The Director General (Safeguards) found no recommendation to impose a safeguard duty on unwrought aluminium because domestic market share, production, sales and productivity improved, capacity utilization was near full, import prices exceeded domestic selling prices (price undercutting negative), and post period data showed declining imports with increased domestic production and sales; injury existed but was not serious, and the Government increased basic customs duty on primary aluminium to protect producers.

Non-food bank credit growth shows slowdown with divergent sectoral trends, industry contraction and sustained personal loan expansion.
Non-food bank credit growth slowed year-on-year to 4.8 per cent as on March 3, 2017 from 11.1 per cent a year earlier. Select-bank outstanding credit data (covering about 95 per cent of non-food credit) shows Agriculture & Allied Activities remaining positive, Industry moving into negative growth, Services expanding, and Personal Loans sustaining strong growth.

Income tax enforcement uncovers widespread undisclosed income, triggering assessments, penalties, compounding and prosecutions.
The income-tax department conducted searches on about 2,534 groups, leading to admissions of undisclosed income of Rs. 45,622 crore and seizure of undisclosed assets worth about Rs. 3,625 crore; investigating officers shared recovered material with assessing officers, who completed assessments, raised tax demands, levied penalties, pursued recoveries and filed prosecution complaints.

Tax collection at source removed: TCS on high-value cash purchases eliminated after cash-transaction cap and amendment.
The government repealed the tax collection at source expansion that required sellers to collect TCS on cash sales exceeding the cash-transaction threshold, removing the seller's TCS collection obligation on such high-value cash purchases and aligning TCS rules with the statutory prohibition on large cash dealings.

Source-based taxation of share capital gains introduced; transitional relief and MAP access for transfer pricing provided.
The Third Protocol amends the India-Singapore DTAA to shift taxation of capital gains on company shares to the source jurisdiction from 1 April 2017, grandfathering pre existing investments subject to the Limitation of Benefits clause and providing a two year transitional reduced tax rate; it also inserts Article 9(2) to allow MAP relief in transfer pricing cases and permits application of domestic anti avoidance measures.