SC removes ban on cryptocurrency
The Supreme Court has struck down a ban on the trading of virtual currencies (VC) in India, which was in place after the Reserve Bank of India’s order from April 2018.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23022-sc-removes-ban-on-cryptocurrency.html
#SC #IAMAI #RBI #VCs #Bitcoin #cryptocurrency
Direct Tax Vivaad Se Vishwas Bill approved
A bill to provide an opportunity for taxpayers to settle their tax disputes by paying just due taxes with complete waiver of interest and penalty by March 31 was approved by the Lok Sabha on 4 March 2020.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23021-direct-tax-vivaad-se-vishwas-bill-approved.html
#VishwasBill #DTVSVB #NirmalaSitharaman #ITAT #LokSabha
Intelligence cell for MSMEs
A parliamentary panel on 3 March 2020 recommended setting up of market intelligence cell for MSMEs, and made a case for a cut in tax rates for proprietary as well as partnership firms from 30 per cent to 22 per cent on the lines of reduction in corporate tax.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23020-intelligence-cell-for-msmes.html
#Intelligence #MSMEs #GST #KVIC #RajyaSabha
Merger of PSB is on course
Finance Minister Nirmala Sitharaman on 4 March 2020 said the exercise of consolidation of 10 public sector banks (PSBs) into four is on course and the merger will come into effect from April 1, 2020.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23019-merger-of-psb-is-on-course.html
#PSBs #NirmalaSitharaman #VijayaBank #SBI #Merger
Chambal sanctuary declared eco-sensitive zone
National Chambal sanctuary has been declared as an eco-sensitive zone by the central government. The decision to declare the area as an eco-sensitive zone will prohibit the construction of hotels or resorts within an area of zero to two kilometres from the sanctuary.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23018-chambal-sanctuary-declared-eco-sensitive-zone.html
#Chambal #NCS #MadhyaPradesh #TourismMasterPlan
Amendments in the Companies Act
The Union Cabinet on 4 March 2020 approved amendments to the Companies Act, to decriminalise various offences. Cabinet has approved 72 changes to 65 sections of the Companies Act, Finance and Corporate Affairs Minister Nirmala Sitharaman said.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23017-amendments-in-the-companies-act.html
#Amendments #CompaniesAct #NirmalaSitharaman #CSR
The Supreme Court has struck down a ban on the trading of virtual currencies (VC) in India, which was in place after the Reserve Bank of India’s order from April 2018.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23022-sc-removes-ban-on-cryptocurrency.html
#SC #IAMAI #RBI #VCs #Bitcoin #cryptocurrency
Direct Tax Vivaad Se Vishwas Bill approved
A bill to provide an opportunity for taxpayers to settle their tax disputes by paying just due taxes with complete waiver of interest and penalty by March 31 was approved by the Lok Sabha on 4 March 2020.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23021-direct-tax-vivaad-se-vishwas-bill-approved.html
#VishwasBill #DTVSVB #NirmalaSitharaman #ITAT #LokSabha
Intelligence cell for MSMEs
A parliamentary panel on 3 March 2020 recommended setting up of market intelligence cell for MSMEs, and made a case for a cut in tax rates for proprietary as well as partnership firms from 30 per cent to 22 per cent on the lines of reduction in corporate tax.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23020-intelligence-cell-for-msmes.html
#Intelligence #MSMEs #GST #KVIC #RajyaSabha
Merger of PSB is on course
Finance Minister Nirmala Sitharaman on 4 March 2020 said the exercise of consolidation of 10 public sector banks (PSBs) into four is on course and the merger will come into effect from April 1, 2020.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23019-merger-of-psb-is-on-course.html
#PSBs #NirmalaSitharaman #VijayaBank #SBI #Merger
Chambal sanctuary declared eco-sensitive zone
National Chambal sanctuary has been declared as an eco-sensitive zone by the central government. The decision to declare the area as an eco-sensitive zone will prohibit the construction of hotels or resorts within an area of zero to two kilometres from the sanctuary.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23018-chambal-sanctuary-declared-eco-sensitive-zone.html
#Chambal #NCS #MadhyaPradesh #TourismMasterPlan
Amendments in the Companies Act
The Union Cabinet on 4 March 2020 approved amendments to the Companies Act, to decriminalise various offences. Cabinet has approved 72 changes to 65 sections of the Companies Act, Finance and Corporate Affairs Minister Nirmala Sitharaman said.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23017-amendments-in-the-companies-act.html
#Amendments #CompaniesAct #NirmalaSitharaman #CSR
Ksgindia
SC removes ban on cryptocurrency | KSG India | Khan Study Group
The Supreme Court has struck down a ban on the trading of virtual currencies (VC) in India, which was in place after the Reserve Bank of India’s order from April 2018. The court in its 180-page ju
Today's Headlines - 04 August 2023
The crypto project WorldCoin
GS Paper - 3 (Economy)
A new cryptocurrency project called WorldCoin, from OpenAI CEO Sam Altman, has claimed over 2 million sign-ups across the world after its official launch on 24 July 2023. OpenAi was the company behind the AI chatbot ChatGPT.
What differentiates WorldCoin from many existing cryptocurrencies?
It is its use of biometrics. Its unique method of sign-up, involving scanning of irises, has rung alarm bells in countries such as France, Germany and Kenya.
India also has at least 17 sign-up locations – mostly at Delhi Metro stations in the NCR region and a few in Bengaluru. In comparison, the United States has 10 locations and Japan has three locations, according to the WorldCoin website.
What is WorldCoin?
The Worldcoin protocol is intended to be the world’s largest identity and financial public network, open to everyone regardless of their country, background or economic status.
WorldCoin wants to offer users an account that only “real humans” can get, through what it calls a “World ID”.
For this, a customer has to sign up and do in-person eyes scan at particular locations, where their irises would be scanned through a ball-like object called an ‘orb’.
Once the orb’s iris scan verifies the person is a real human, it creates a World ID for them.
The reasoning given here is that biometric data would help differentiate between humans and Artificial Intelligence systems and prevent duplication of IDs from the same person.
It can then be used as an ID in a variety of everyday applications – such as a cryptocurrency wallet – without revealing the user’s identity.
The project has three aspects: a World ID or a digital identity for “proving an individual’s unique personhood,” a Worldcoin token (WLD) that is its cryptocurrency, and a World App that enables “payment, purchases and transfers globally using digital assets and traditional currencies.”
It says that creating a World ID (through the orb scanning) is not essential for accessing the app or tokens. But it provides certain incentives for doing so.
Who owns WorldCoin?
San Francisco and Berlin-based company Tools for Humanity is behind WorldCoin. Altman is its Co-Founder and Alex Blania is its Co-Founder and CEO.
The company’s website simply states that it is a technology company that was built to ensure a “more just economic system”, and re-directs visitors to the WorldCoin website.
The Worldcoin can help address how the economy will be reshaped by generative AI technology.
#upsc #news #headline #crypto #project #worldcoin #economy #world #chatGPT #OpenAi #currencies #germany #kenya #delhimetro #US #japan #location #financial #worldID #human #intelligence #technology #visitors #humanity #berlin #francisco #CEO
The crypto project WorldCoin
GS Paper - 3 (Economy)
A new cryptocurrency project called WorldCoin, from OpenAI CEO Sam Altman, has claimed over 2 million sign-ups across the world after its official launch on 24 July 2023. OpenAi was the company behind the AI chatbot ChatGPT.
What differentiates WorldCoin from many existing cryptocurrencies?
It is its use of biometrics. Its unique method of sign-up, involving scanning of irises, has rung alarm bells in countries such as France, Germany and Kenya.
India also has at least 17 sign-up locations – mostly at Delhi Metro stations in the NCR region and a few in Bengaluru. In comparison, the United States has 10 locations and Japan has three locations, according to the WorldCoin website.
What is WorldCoin?
The Worldcoin protocol is intended to be the world’s largest identity and financial public network, open to everyone regardless of their country, background or economic status.
WorldCoin wants to offer users an account that only “real humans” can get, through what it calls a “World ID”.
For this, a customer has to sign up and do in-person eyes scan at particular locations, where their irises would be scanned through a ball-like object called an ‘orb’.
Once the orb’s iris scan verifies the person is a real human, it creates a World ID for them.
The reasoning given here is that biometric data would help differentiate between humans and Artificial Intelligence systems and prevent duplication of IDs from the same person.
It can then be used as an ID in a variety of everyday applications – such as a cryptocurrency wallet – without revealing the user’s identity.
The project has three aspects: a World ID or a digital identity for “proving an individual’s unique personhood,” a Worldcoin token (WLD) that is its cryptocurrency, and a World App that enables “payment, purchases and transfers globally using digital assets and traditional currencies.”
It says that creating a World ID (through the orb scanning) is not essential for accessing the app or tokens. But it provides certain incentives for doing so.
Who owns WorldCoin?
San Francisco and Berlin-based company Tools for Humanity is behind WorldCoin. Altman is its Co-Founder and Alex Blania is its Co-Founder and CEO.
The company’s website simply states that it is a technology company that was built to ensure a “more just economic system”, and re-directs visitors to the WorldCoin website.
The Worldcoin can help address how the economy will be reshaped by generative AI technology.
#upsc #news #headline #crypto #project #worldcoin #economy #world #chatGPT #OpenAi #currencies #germany #kenya #delhimetro #US #japan #location #financial #worldID #human #intelligence #technology #visitors #humanity #berlin #francisco #CEO
Today's Headlines - 07 August 2023
Draft National Deep Tech Startup Policy
GS Paper - 3 (Economy)
The office of the Principal Scientific Adviser to the Government put out a draft National Deep Tech Startup Policy (NDTSP) for public comment, following two versions that were iterated at high levels with other government departments, academia and stakeholder firms. The policy seeks to “ensure India’s position in the global deep tech value chain,” in areas such as semiconductors, Artificial Intelligence (AI) and space tech.
More about the Policy
The policy seeks to bolster research and development in deep tech start-ups, which work on fundamental and technical problems, unlike firms that monetise technology with distinguished business models.
The policy also seeks to find approaches to provide financing to deep tech start-ups at critical moments, such as before they go to market with their products or ideas.
Additionally, the policy seeks to simplify the intellectual property regime for such start-ups, ease regulatory requirements, and proposes a slew of measures to promote these firms.
For instance, the NDTSP suggests that an Export Promotion Board be created to ease barriers of entry for Indian deep tech start-ups into foreign markets and those clauses to ease such market access be included in foreign trade agreements.
The policy also includes resource-intensive policy approaches to attract global talent, such as offering “networking opportunities to international deep tech startups and experts interested in relocating and contributing to the local ecosystem.
Since expertise and regulatory overview of different aspects of deep tech and its supply chains are under different Ministries, the policy suggests the creation of an “Inter Ministerial Deep Tech Committee” to regularly review the requirements of enabling the deep tech ecosystem to function better.
International agreement
The policy restates the government’s disappointment with international agreements that it argues have left India on the backfoot in terms of manufacturing and development power.
India’s experience with some aspects of international cooperation has had a deleterious effect on the domestic ecosystem. A key example of this is the Information Technology Agreement-I that India joined in 1997.
The policy calls for a more multi-pronged approach to protect Indian interests. The need of the hour is a coordinated, comprehensive push to optimally engage with international partners and multilateral institutions to push the Indian Deep Tech Ecosystem, the policy says.
#upsc #news #headline #Draftnational #Deeptech #Startup #policy #economy #principal #scientific #adviser #NDTSP #global #AI #semiconductors #artificial #intelligence #spacetech #fundamental #technical #technology #monetise #critical #property #resource #networking #indian #internationalagreement #ecosystem
Draft National Deep Tech Startup Policy
GS Paper - 3 (Economy)
The office of the Principal Scientific Adviser to the Government put out a draft National Deep Tech Startup Policy (NDTSP) for public comment, following two versions that were iterated at high levels with other government departments, academia and stakeholder firms. The policy seeks to “ensure India’s position in the global deep tech value chain,” in areas such as semiconductors, Artificial Intelligence (AI) and space tech.
More about the Policy
The policy seeks to bolster research and development in deep tech start-ups, which work on fundamental and technical problems, unlike firms that monetise technology with distinguished business models.
The policy also seeks to find approaches to provide financing to deep tech start-ups at critical moments, such as before they go to market with their products or ideas.
Additionally, the policy seeks to simplify the intellectual property regime for such start-ups, ease regulatory requirements, and proposes a slew of measures to promote these firms.
For instance, the NDTSP suggests that an Export Promotion Board be created to ease barriers of entry for Indian deep tech start-ups into foreign markets and those clauses to ease such market access be included in foreign trade agreements.
The policy also includes resource-intensive policy approaches to attract global talent, such as offering “networking opportunities to international deep tech startups and experts interested in relocating and contributing to the local ecosystem.
Since expertise and regulatory overview of different aspects of deep tech and its supply chains are under different Ministries, the policy suggests the creation of an “Inter Ministerial Deep Tech Committee” to regularly review the requirements of enabling the deep tech ecosystem to function better.
International agreement
The policy restates the government’s disappointment with international agreements that it argues have left India on the backfoot in terms of manufacturing and development power.
India’s experience with some aspects of international cooperation has had a deleterious effect on the domestic ecosystem. A key example of this is the Information Technology Agreement-I that India joined in 1997.
The policy calls for a more multi-pronged approach to protect Indian interests. The need of the hour is a coordinated, comprehensive push to optimally engage with international partners and multilateral institutions to push the Indian Deep Tech Ecosystem, the policy says.
#upsc #news #headline #Draftnational #Deeptech #Startup #policy #economy #principal #scientific #adviser #NDTSP #global #AI #semiconductors #artificial #intelligence #spacetech #fundamental #technical #technology #monetise #critical #property #resource #networking #indian #internationalagreement #ecosystem