Foreign direct investment in multi brand retail triggered parliamentary divisions and sustained legislative scrutiny during the Winter Session.
The Winter Session, 2012 concentrated on executive policy items and legislative reform, notably challenges to the government's decision on FDI in multi brand retail and related FEMA notifications which provoked motions and division votes in both Houses. Constitutional amendment bills on special provisions for specified Karnataka districts and on reservation in promotion for SC/ST were advanced, with the former passing both Houses and the latter passing the Rajya Sabha but stalling in Lok Sabha. Multiple economic and regulatory amendment bills were introduced and passed, and appropriation business was debated and transmitted between Houses.

KYC simplification: identity documents and Aadhaar can serve as both identity and address proof; introductions not mandatory.
Reserve Bank amends KYC practice: accept identity documents bearing the declared address as both identity and address proof; require separate address proof only if addresses differ; do not require introduction for account opening; accept Aadhaar as identity and, if address matches, as address proof; accept NREGA Job Card as an officially valid document for ordinary accounts without small account limitations; withdraw the prior "accounts with introduction" instructions and require banks to open and observe restrictions on Small Accounts.

KYC simplification: banks may accept one identity document as both identity and address proof, easing account opening.
A single identity document bearing the customer's current address may be accepted as proof of both identity and address for new individual accounts; if the address differs, separate address proof is required and a registered rent agreement is acceptable. Introduction is not required for account opening. Aadhaar may be used as identity and, where address matches, as address proof. NREGA Job Card is accepted as an officially valid document for normal accounts without small-account restrictions; instructions on 'Accounts with Introduction' are withdrawn and banks must open and observe limits on Small Accounts.

Co-branded prepaid card permission: banks may issue rupee cards subject to governance, KYC/AML and issuer liability rules.
Banks are granted general permission to issue rupee denominated co-branded pre-paid and debit cards subject to DPSS directions and specified conditions: a Board approved policy addressing risks; due diligence of non-bank partners; issuer liability for partner acts and compliance with outsourcing guidelines; limitation of non-bank roles to marketing/distribution; strict confidentiality of customer information; adherence to KYC/AML/CFT and PMLA obligations; no interest on card balances; and compliance with DPSS and foreign exchange rules for foreign currency instruments.

Co-branded debit card permission: banks may issue co-branded online debit cards subject to board-approved policies and compliance.
Banks may issue debit cards, including co-branded debit cards, without prior Reserve Bank approval provided issuance follows a Board-approved policy, only online immediate-debit cards are issued, offline cards are phased out, and banks comply with KYC/AML/CFT norms, clear contractual terms, security obligations, customer notification mechanisms, liability limits, due diligence on co-branding partners, and DPSS/FEMA directions as applicable.