03.03.22

Digital transactions earned dividends for the nation

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Union Minister for Parliamentary Affairs, Coal and Mines Prahlad Joshi has said that with more people adapting digital transactions, a saving of

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1.75 lakh crore had been possible and the menace of middlemen had also been checked.

The country had performed over 20 lakh crore digital transactions, which was 60% more than the digital transaction of China. He said that with the introduction of Jan Dhan accounts, 45 crore zero balance new bank accounts were opened and in these zero balance accounts, there were deposits to the tune of 1.65 lakh crore in the last seven years.

India-ITU Host Country Agreement (HCA)

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HCA was signed in a virtual ceremony during the World Telecommunications Standardization Assembly-20 (WTSA-20) being held in Geneva, Switzerland.

HCA provides the legal and financial framework for the establishment and operations

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of the Area Office and innovation center of ITU in New Delhi, India.

ITU is the United Nations specialized agency responsible for information and Communication technologies (ICTs).

India has taken many initiatives to develop telecom standards. ITU recognized 5Gi standards developed in India.

Pakistan remains on FATFs grey list: Report

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The global laundering and terrorist financing watchdog FATF has retained Pakistan on its terrorism financing grey list and asked Islamabad to address at the earliest the remaining deficiencies in its financial system, according to a media report.

Pakistan has

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been on the grey list of the Paris-based
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Financial Action Task Force (FATF) since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.