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China denied involvement in any hacking activities on Tuesday after the U.S. indicted four members of the Chinese military for allegedly breaking into the computer networks of the Equifax credit reporting agency and stealing the personal information of tens of millions of people.
The editorial highlights that more than 6 years after the Lokpal law received the President’s assent, the institution of Lokpal is yet to play any significant role in tackling corruption in the country. The necessary rules, regulations and machinery are still not in place.
US President Donald Trump will visit India on Feb 24 and 25. He will visit New Delhi and Ahemdabad.
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FM has told Lok Sabha that the Indian economy is not in trouble and she has highlighted seven macroeconomic indicators as signs of revival.
These indicators include higher foreign investment, improvement in the industrial output and GST collections, all-time high forex reserves, and an upbeat stock market.
The amount of GST compensation released to states for April - September 2019 stood at Rs 81,043 crore. This information was given by Minister of State for Finance in a written reply to a question in Rajya Sabha.
Under GST law, Sates are guaranteed to be paid for any loss of revenue in the first five years of GST implementation.
The Reserve Bank of India (RBI) has proposed to set up a new pan-India new umbrella entity (NUE) or entities focussing on retail payment systems with a minimum paid-up capital of Rs 500 crore.
The proposed entity will set up, manage and operate new payment systems especially in the retail space comprising of, but not limited to ATMs, white label PoS, Aadhaar-based payments and remittance services, develop payment methods, standards and technologies, monitor related issues and internationally, take care of developmental objectives like enhancement of awareness about the payment systems.
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