Loan recovery policy strengthened: banks must adopt recovery measures and mandatory inter-bank credit information sharing to curb NPAs.
Banks must institute a loan recovery policy detailing recovery procedures, reduction targets, norms for waiver and monitoring, appoint nodal officers, deploy early warning systems and replace post-dated cheques with Electronic Clearance System; a Board Level Committee must monitor recovery. Banks are required to implement an effective information sharing mechanism on credit, derivatives and unhedged foreign currency exposures by the prescribed deadline, and lending decisions are conditioned on obtaining and sharing requisite information, with non-adherence attracting supervisory action including penalties.

Refinance eligibility for hand pumps under minor irrigation affirmed, with authorities reporting no specific sanctioning irregularities.
Hand pumps (filter points) are eligible for refinance under the Minor Irrigation sector, enabling cooperative commercial banks and regional rural banks to obtain refinance support for installation to marginalized farmers; aggregate refinance disbursements for three years were disclosed and the relevant authorities reported no specific complaints of irregularities in sanctioning those loans during the period.

Scheme merger ensures unified administration and avoids duplicate life insurance coverage for economically backward sections.
The merger of Janashree Bima Yojana and Aam Aadmi Bima Yojana creates a unified operational framework to provide life insurance cover to economically disadvantaged persons, aligning comparable benefit structures and implementation channels to streamline administration and service delivery, and specifically to avoid duplication of coverage so as to allow more accurate assessment of claim experience.

Undisclosed offshore income detected under double taxation agreements prompts tax assessments and prosecution actions.
Information exchanged under Double Taxation Avoidance Agreements and Tax Information Exchange Agreements has been used to identify undisclosed foreign bank-account income, support enquiries and assessments, realize tax liabilities on such undisclosed income, and, where warranted, initiate prosecution proceedings to enforce direct tax laws.

Capital infusion to public sector banks to maintain regulatory capital ratios and support credit growth under Basel preparedness.
The Government intends to infuse capital into Public Sector Banks to keep the Capital to Risk Weighted Asset Ratio (CRAR) above regulatory norms, support growing credit to productive sectors, and prepare banks for implementation of Basel III capital norms; bank-wise allocations for 2012-13 are being finalised.

Pre-trade risk controls implemented to curb erroneous trading and protect market stability after exchange trading halt.
A trading member's erroneous orders caused multiple trades and a sharp intra-day index decline, prompting the exchange to withdraw the member's trading privileges temporarily and impose a penalty. Regulators, after consultation with market stakeholders and risk committees, implemented enhanced pre-trade risk controls including order-level checks, dynamic price bands and a risk reduction mode to prevent and mitigate erroneous trading.

Priority sector lending obligations require higher branch-based targets for foreign banks, maintaining tiered compliance and innovation emphasis.
Revised regulatory guidelines increase priority sector lending target obligations for foreign banks and differentiate compliance by branch network size. Foreign banks meeting the higher branch threshold must achieve a higher aggregate priority sector lending target measured against Adjusted Net Bank Credit or Credit equivalent of Off-balance sheet exposure, while banks below the threshold retain the earlier, lower target.

Electronic payment facilitation expands via guidelines enabling RTGS, NEFT, mobile banking and wider ATM and PoS deployment.
The Reserve Bank of India has issued guidance to expand electronic payment mechanisms in towns and villages, supporting systems such as Real Time Gross Settlement, National Electronic Funds Transfer and National Electronic Clearing Services, and recognising mobile banking, prepaid payment instruments and mobile wallets as enabling instruments; banks are encouraged to deploy ATMs and Point of Sale devices to promote electronic payment acceptance.

Deregulation of bank deposit interest rates allows banks to set rates with board approval while preserving non discrimination.
Banks may set term deposit rates with board or Asset Liability Management Committee approval; savings deposit rates are deregulated but each bank must offer a uniform rate on savings up to Rs. 1 lakh, and may offer differential rates above that threshold provided it does not discriminate between deposits of similar amount accepted on the same date at any of its offices.

Estate tax reimposition: government states no proposal to reinstate estate tax, citing low revenue and high costs.
No present proposal exists to reimpose estate tax; the Government explained estate duty was abolished because it produced negligible revenue, its share of gross tax receipts fell over time, proceeds remained low despite progressive rates, administration and compliance costs were high, and overlap with wealth tax created burdens on taxpayers and heirs.

Cabinet Committee on Investments to set time limits and fast track approvals, monitoring project clearances and resolving delays.
Constitution of a Cabinet Committee on Investments to monitor and review major projects, prescribe time limits for decisions in consultation with concerned Ministries, require Ministries/Departments to decide after due diligence within those periods, and, where delays occur, examine causes and facilitate resolution by fast tracking necessary approvals and clearances.

Money circulation schemes regulation: Act-backed referrals to authorities, banks urged to enforce KYC and AML measures.
The Prize Chits and Money Circulation Scheme (Banning) Act empowers State Governments to act against money circulation schemes; the RBI forwards complaints to appropriate agencies and advises the public to report fictitious offers to police or cyber crime authorities. RBI has directed banks to ensure strict KYC and AML compliance when opening and monitoring accounts for marketing and trading entities and to review accounts showing indicators of money circulation activity; it has also informed states that Multi Level Marketing schemes fall within the Act's scope.

Exchange rate determination for foreign currencies set for import and export valuation under customs notification.
Determination of rate of exchange for specified foreign currencies has been notified under the Customs Act for valuation of import and export goods, with distinct conversion rates prescribed separately for imported goods and for export goods. Two schedules annexed set out per unit equivalences in Indian rupees and a separate schedule for rates per 100 units where applicable; the notification supersedes the earlier rates except for actions completed before the supersession.

Tax compliance: government promotes a stable tax regime and expanded e filing to improve collections and refund processing.
Stable tax regime and improved taxpayer facilitation are prioritised to enhance compliance and revenue. The Finance Minister emphasised strengthening tax information systems, broadening the tax base, expediting processing and refunds, and promoting electronic filing as a key mechanism to speed processing and refunds.

Government stock reissue auction using uniform price method; non-competitive allotment allowed and payment due on re-issue date.
Reissue of 8.07 per cent Government Stock, 2017-JUL will be sold by uniform price auction on the RBI E-Kuber system with designated windows for non-competitive and competitive bids; up to 5% of the notified amount will be allotted to eligible non-competitive bidders. Auction results will be displayed by the RBI and payment by successful bidders is due on the reissue date, inclusive of accrued interest. The Stock carries a five-year tenure repayable at par and bears 8.07% per annum interest payable semiannually; it is eligible for when-issued trading under RBI guidelines.

Fiscal responsibility and consolidation guide measures to contain the fiscal deficit while supporting gradual economic recovery and stabilisation.
The Mid Year Economic Analysis, tabled under the Fiscal Responsibility and Budget Management framework, reports a slowdown in GDP across sectors and persistent consumer inflation, highlights external sector pressures from a widening trade deficit and higher external debt, and sets a fiscal consolidation roadmap relying on fuel price adjustments, capped subsidised LPG, expenditure restraint and revenue mobilisation to contain the fiscal deficit and restore stability while supporting a gradual economic recovery.

Tariff valuation change for specified commodities updates customs valuation tables, affecting import valuation and notification application.
The Central Board of Excise & Customs amends Notification No. 36/2001 Customs (N.T.) by substituting TABLE 1 and TABLE 2 to prescribe updated tariff values in US dollars for specified imported commodities. The amendment sets commodity specific valuation benchmarks for various palm oil products, crude soyabean oil, brass scrap (all grades), poppy seeds, and valuation bases for gold and silver when certain notification benefits are availed, thereby updating the statutory references used for import valuation and customs assessment.

Income tax refunds processed within statutory time limits; refunds, data, grievances and measures to expedite processing explained.
Returns received in a financial year may be processed up to one year from the end of that year; refunds and interest are determined on processing and matching of tax payment data and may differ from claimed amounts. Refund grievances are dealt with by the Assessing Officers under the Income Tax Act. Measures to expedite refunds include e filing promotion, Refund Banker issuance, a Centralized Processing Centre for e returns, mandatory TDS e filing and PAN quoting, Form 26AS access, and online refund status viewing.

Training of tax officials: induction and continuing programmes update legal and procedural knowledge across tax administrations.
Assessing officers receive induction and continuing training at specialized national and regional academies, supplemented by classroom lectures, interactive sessions, practical exercises, case studies, seminars, workshops, group discussions, field attachments and the Advanced Mid Career Training Programme; compendia of case law and best practices are published and distributed. Administrative data summarise numbers of courses conducted and officers trained for Central Excise and Customs and for the Income Tax Department across the reported years.

Search and seizure under Income Tax Act: seized assets applied to assessed tax liabilities; surplus released when statutory conditions are met.
Search and seizure actions target defined categories of taxpayers based on credible information; statistics on warrants executed and assets seized (cash, jewellery, other assets) are provided. Immovable property is not seizable. Seized evidence is used in quasi judicial assessment/reassessment to quantify undisclosed income, and cash is deposited to the exchequer while other assets are applied against assessed liabilities; surplus assets may be released subject to Commissioners' approval and statutory conditions.