Government establishes NITI Aayog (National Institution for Transforming India) to replace Planning Commission. It will emerge as a "think-tank" that will provide Governments at the central and state levels with relevant strategic and technical advice across the spectrum of key elements of policy.

The Union Ministry of Human Resource Development has released the ?All India Survey on Higher Education (AISHE) Report 2016-17. Tamil Nadu has topped in terms of Gross Enrolment Ratio in Higher Education.Note: Tamil Nadu recorded 46.9% GER. GER is the ratio of enrolment in higher education to population in the eligible age group (18-23 years).

With reforms in the public sector banking space, the government has constituted a ministerial panel headed by Finance Minister Arun Jaitley that will oversee merger proposals of state-owned banks. The other members of the panel include Railway and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman.

Kisan Vikas Patra is a saving certificate scheme which was first launched in 1988 by India Post. KVP certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) empowers Banks / Financial Institutions to recover their non-performing assets without the intervention of the Court.