Reserve Bank Deputy Governor Michael Patra on Wednesday said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets. Emphasising that the Central Bank Digital Currency (CBDC) will be introduced in FY23 as announced by Finance Minister Nirmala Sitharaman in the Budget speech, Patra said India will proceed very gradually on the subject as there are concerns on privacy, its impact on monetary policy formulation and energy intensity. The government had plans to introduce a bill on cryptocurrencies like Bitcoin during the Winter Session of Parliament in November-December 2021 but did not introduce it.
This form of government, where secrets and major decisions are kept from the Cabinet itself, appears to be continuing, which is why the speculation around this special session, asserts Aakar Patel.
The Tamil Nadu assembly on Friday once again passed a unanimous resolution urging the Centre to exempt the state from National Eligibility-cum-Entrance Test and allow it to admit students to medical courses based on Plus Two exam marks.
Marathas have been declared as socially and educationally backward class of citizens and have inadequate representation in services under the state. They are entitled to reservation benefits and advantages enshrined in the Articles 15(4) and 16(4) of the Constitution, the recommendations mentioned.
The government on Monday said that matters regarding Chinese intrusion can't be discussed in Parliament as it concerns the security of the country.
If the Personal Data Protection Bill gets passed in its present form, a new class of companies and entities could emerge. The sole job of these new entities would be to manage the consent for data usage of a user.Banks, healthcare firms and fintech companies, among others, fear that sharing non-personal data with the government may hurt business interests. Banks also fear the threat of data misuse.
The bill, approved by the Union Cabinet on Monday, was brought in on the last day of the Winter Session of Lok Sabha.
Prosus-backed fintech firm PayU is set to acquire India's earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India's digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa. The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV).
Bharatiya Janata Party on Wednesday sought to take credit for its role in passage of the Women's Reservation Bill in Rajya Sabha and forcing the government to defer the nuclear liability bill.
On December 4, the Union Cabinet cleared the Citizenship (Amendment) Bill that seeks to grant citizenship to non-Muslim refugees from Pakistan, Bangladesh and Afghanistan if they faced religious persecution there. The government intends to introduce bill in Parliament's Winter Session next week. What is this legislation and why is it contentious?
Parliamentary Affairs Minister Prahlad Joshi has said that 31 bills will be taken up in the monsoon session. Among these include the Digital Personal Data Protection Bill, 2023.
Mobile wallet adoption is surging in India and swiftly becoming a primary payment option, surpassing traditional methods like cash and cards. Over the next few years, payments via mobile wallets in India are likely to surpass the Rs 531.8 trillion mark in 2028, witnessing a compound annual growth rate (CAGR) of 18.3 per cent between 2024 and 2028, according to GlobalData - a London-based leading data and analytics company. The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion ($2.5 trillion) in 2023.
The impending expulsion of Trinamool Congress (TMC) member Mahua Moitra from the Lok Sabha, three bills to replace criminal laws and a proposed law for the appointment of election commissioners are issues set to dominate the Winter Session of Parliament, with the government urging the Opposition to ensure a conducive environment for discussions in the House.
NEET is a court-ordered examination, supposedly aimed at meritocracy. However, over the past years when the incumbent Narendra Modi government at the Centre began implementing it, it took on political and casteist colours, observes N Sathiya Moorthy.
The disqualified MLAs are Rajinder Rana, Sudhir Sharma, Inder Dutt Lakhanpal, Devinder Kumar Bhutoo, Ravi Thakur and Chetanya Sharma.
The ruling BJP has issued a whip to its MPs, asking them to ensure their presence in the House.
The Reserve Bank of India (RBI) on Monday did a four-day variable rate reverse repo (VRRR) auction to reduce liquidity in the banking system as the overnight money market rates fell below the repo rate, said market participants. The repo rate is 6.50 per cent. Banks parked Rs 18,750 crore at the auction against a notified amount of Rs 50,000 crore at a weighted average rate of 6.49 per cent.
The demand was raised during a debate on the Constitution (123rd Amendment) Bill 2017 in the Upper House, which was passed by the Lok Sabha on August 2 superseding the amendments earlier carried out by the Rajya Sabha.
Believe it or not, this is the first T20 World Cup won by India after the launch of the IPL in 2008 -- after 16 seasons of the T20 league.
The bill, which criminalises instant divorce by Muslim men and seeks jail term for the guilty, was the first draft legislation tabled by the Narendra Modi government in this first session after it took oath of office for a second term in May.
Is it is necessary to play divisive politics to succeed in the next general elections? asks Dr Sudhir Bisht.
After Uttar Pradesh Chief Minister Mayawati, Bihar Member of Rajya Sabha Ejaj Ali was garlanded with currency notes by his supporters in Patna on Wednesday, soon after his arrival from New Delhi.
The 102nd Constitution Amendment Act of 2018 inserted articles 338B, which deals with the structure, duties and powers of the National Commission for Backward Classes, and 342A that deals with the powers of the president to notify a particular caste as an SEBC and the power of Parliament to change the list. Article 366 (26C) defines SEBCs.
The Haryana State Employment of Local Candidates Bill, 2020 provides the quota for local people in private sector jobs that offer a salary of less than Rs 50,000 a month.
The proposed law seeks bars on storing and processing of personal data by entities without the explicit consent of an individual. It, however, provides for exemptions for "reasonable purposes" such as "prevention and detection of any unlawful activity including fraud, whistle-blowing, merger and acquisitions, network and information security, credit scoring, recovery of debt, processing of publicly available personal data and the operation of search engines".
He said the people are looking for an alternative and the Congress' victories in Himachal Pradesh and Karnataka elections are clear proof of this.
'The common belief in political circles is that if you provide reservation to somebody, s/he will automatically come up.' 'This is a very faulty understanding.'
Trouble is brewing for the Women's Reservation Bill with a section of the Bharatiya Janata Party Members of Parliament in Lok Sabha expressing their opposition to the measure and threatening to vote against it and the party decided to crack on the dissenters by issuing a whip to them to back it on Thursday.
The Uttarakhand assembly on Wednesday passed a stricter anti-conversion Bill making unlawful conversion a cognisable and non-bailable offence punishable with imprisonment for a term of at least three to a maximum of 10 years.
The cricketing extravaganza became a business opportunity for everyone, from five-star hotels to cafes to street vendors across the country on Sunday.
Syed Firdaus Ashraf/Rediff.com does a deep dive into four elections when Narendra Modi resorted to anti-Muslim fervour and points out that Hindu-Muslim politics does not necessarily mean victory for the BJP.
Excluding the Bharatiya Janata Party, which ardently opposed the bill both inside and outside the assembly, the entire Opposition supported the Backward Class, Scheduled Castes and Scheduled Tribes Reservation Bill, 2017, which will be now debated and passed by the state legislative council.
Addressing soldiers in Lepcha after celebrating Diwali with security personnel stationed near the border, Modi said the circumstances of the world are such that the expectations from India are constantly rising.
'If you solve it in one day, it will go after a day.' 'If it is there for 100 years or 1,000 years, reservation has to continue.'
'The moment the BJP loses a state, it announces some policy which never takes off.'
These schemes are a good choice for investors contemplating a large investment in equity funds. Instead of investing all the money in one go, they can do so in a staggered manner by parking it in these schemes and then transferring it to equity mutual funds through a systematic transfer plan.
A notification in this regard was issued on Thursday evening which further said that these six MLAs ceased to be members of Himachal Pradesh legislative assembly with effect from February 29.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
Congress president Mallikarjun Kharge used poetry and humour to take swipes at the government on Monday, saying nothing will be accomplished by changing names, and went on to recall how first prime minister Jawaharlal Nehru's 'inclusive' approach of involving opposition parties had led to the laying of a strong foundation for the Constitution.
The Rajya Sabha on Tuesday passed a bill on protection of rights of transgenders after a motion to refer it to a Select Committee of the Upper House was defeated.
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