Government | Page 9

The Prime Minister also said that the fintech domain in India has earned goodwill by being an enabler of inclusion, and there is a need for continued focus to empower the poorest of the poor by taking quality financial services to them

The plan is to encourage the states to use the Aadhaar authentication system for various purposes such as de-duplication of beneficiaries and weeding out of ghost beneficiaries

The ministry has also asked the banks to increase their share of credit to the industry and informed that government would survey banks and rate them in terms of their customer service

The commerce and industry minister also advised the industries to focus mainly on five areas including quality, increased value addition in India and focus on new markets

The finance minister also added that, internationally, tax authorities are using IoT technology to automate the scanning of goods using e-seals, QR codes and X-ray scanners

The finance minister raised this concern when foreign companies had shown interest in coming to India and vowed to provide every possible support

As per reports, this move shows that the market regulator wants to understand the credibility of the valuation exercise undertaken by funds

The finance minister said that the word 'taming inflation' or the word 'keeping it within the tolerance limit', is an exercise of so many different activities and a majority of which is outside the monetary policy in today's circumstances

As per the proposed guidelines, if social media influencers endorse any brand after taking money, they will have to declare their association with that brand

Deputy governor of RBI said that RBI mainly focuses to scale the digital infrastructure while preserving the technical stability

The minister also said that the government will float a new telecom bill within a week

The new norms will come into effect from October 1, 2022

As per reports, RBI has projected a growth rate of 7.2 per cent for the current financial year

The guidelines stated that no surrogate advertisements or indirect advertisements shall be made for goods or services whose advertising is otherwise prohibited or restricted by law

At present, India has more than 73,000 startups and out of them, more than 100 are unicorns or those with $1billion valuation

The ministry issued a statement in which it is said that the number of network participants on the platform would soon be above 30 in the upcoming weeks

The reports said that government is likely to treat the unified payments interface (UPI) as public good in which customers do not required paying

The report says that the delay is due to the multiple acquisitions by Byju's during the financial year and it also plans for further acquisitions in the subsequent financial year

The road transport minister said that the ministry will also be opening up projects under the build operate transfer (BOT) model once again

The Union minister Piyush Goyal said that the ministry is preparing for greater multilateral and bilateral engagement with other countries

Union minister Dr Jitendra Singh said that under this initiative, ambitious research ideas, high-risk, milestone-driven collaborative research for knowledge-based discoveries with broad demonstrable application from both academia and industry will be considered for support