The Minister of State in Prime Minister’s office, Dr. Jitendra Singh today informed Lok Sabha that the Government is aware of the growing challenges of cyber security breaches in nuclear facilities across the world. In a written reply, he said, "Indian nuclear establishment have set rigorous procedure for design, development and operation of the systems used in its installations.
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New Delhi: The Minister for Finance & Corporate Affairs, Nirmala Sitharaman on Tuesday announced the introduction of Digital Rupee to be issued by the Reserve Bank of India starting 2022-23. Presenting the Union Budget 2022-23 in the Parliament, the finance minister said that the Central Bank Digital Currency (CBDC) will give a big boost to digital economy. Digital currency will also lead to a more efficient and cheaper currency management system, the Minister stated. The Digital Currency will use block chain and other technologies.
New Delhi: The Finance Bill 2022 from Finance Minister Nirmala Seetharaman has proposed to introduce a slew of new provisions in the Income-Tax Act, 1961 to provide for a framework for taxation of income on sale and purchase of Virtual Digital Assets.
Mumbai : As per the press release from the Reserve Bank of India (RBI), it has imposed, by an order dated October 18, 2021, a monetary penalty of ₹1.95 crore (Rupees One Crore and Ninety-five Lakh only) on Standard Chartered Bank - India (the bank) for non-compliance with the directions issued by RBI on ‘Customer Protection – Limiting Liability of Customers in Unauthorized Electronic Banking Transactions’, ‘Cyber Security Framework in Banks’, ‘Credit Card Operations of banks’ read with ‘Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’ and ‘Crea
Mumbai : As per the press release from the Reserve Bank of India (RBI), it has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5.00 crore (Rupees Five crore only) on Axis Bank Limited (the bank) for contravention of / non-compliance with certain provisions of directions issued by RBI on ‘Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer’ dated May 9, 2019, ‘Cyber Security Framework in Banks’ dated June 2, 2016, ‘Reserve Bank of India (Financial Services provided by Banks) Directions, 2016’ dated May