On December 28, 2019, Finance Minister Nirmala Sitaraman announced that Merchant Discount Rate (MDR) will not be applicable on bank transactions made through RuPay and UPI platforms. Highlights The Finance Ministry has directed the banks to start campaigns to popularize UPI and RuPay debit cards. Also, the banking companies with an annual turnover more than ..
digital economy: GK, Current Affairs, Questions, Trivia and News
The rise of digital penetration in the world has lead to an increase in the instances of cyber crimes and digital fraud in recent years. The latest in this series of frauds has been the instance of a company based out Singapore which has been promoting the fake currencies CryptoRiyal and SmartRiyal.? What has happened? ..
Cloud computing refers to the delivery of computing services which may include computer servers, data storage, databases, networking, software development, analytics, and intelligence facilities on the Internet. This entire process is known as the cloud and it offers faster innovation timelines, very flexible resources, and better economies of scale. Types of cloud computing There are ..
A government in which corrupt leaders (kleptocrats) use their power to exploit the people and natural resources of a country to increase their personal wealth and political powers is referred to as Kleptocracy. What defines kleptocracy? A kleptocracy is a government which is governed by corrupt politicians who rely on their political power to receive ..
In what could be a major deterrent for governments looking to promote digital transactions and attempting to store data online, a data breach in a financial firm has led to the loss of personal information of 106 million people in the United States and in Canada. What had happened? The total loss to the financial ..
Demonetization and the government’s push towards digital payments has opened the market to several platforms which are not only more convenient but also provide greater flexibility to the people using them. Digital payment ecosystem in India As per a study prepared by the Assocham-PWC India, it is expected that India will see the fastest growth ..
The ability to anticipate, prepare for, respond to and recover from cyber attacks is known as Cyber Resilience. Cyber resilience is now being increasingly desired by companies, organizations and even governments these days. A cyber resilient government/organization should be able to protect itself against cyber risks, defend against and limit the severity of attacks, and ..
In the G-20 summit, currently being held in Osaka, Japan, Indian Prime Minister Narendra Modi presented his 5-I vision. His proposed vision is expected to maximize the digital technology for social benefit. This vision was presented in the G-20 s summit on digital economy & artificial intelligence. What are the 5-Is ? The 5-Is planned ..