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Mumbai, The <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> on Thursday said that it has decided to come out with a new <keyword id="20027459" type="General" weightage="20" keywordseo="framework" source="keywords">framework</keyword> for authentication of digital payment transactions and introduce additional norms to enhance the security of the Aadhaar Enabled Payment System (<keyword id="19946538" type="General" weightage="20" keywordseo="aeps" source="keywords">AePS</keyword>). Over the years, the <keyword id="19922074" type="General" weightage="20" keywordseo="reserve-bank" source="keywords">Reserve Bank</keyword> has prioritised security of digital payments, in particular the requirement of Additional Factor of Authentication (AFA). Although the RBI has not prescribed any particular AFA, the payments ecosystem has largely adopted SMS-based One Time Password (<keyword id="19957209" type="General" weightage="20" keywordseo="otp" source="keywords">OTP</keyword>). With innovations in technology, alternative authentication mechanisms have emerged in recent years. "To facilitate the use of such mechanisms for digital security, it is proposed to adopt a principle-based 'Framework for authentication of digital payment transactions'. Instructions in this regard will be issued separately," the RBI said. To enhance the security of AePS transactions, it is proposed to streamline the onboarding process, including mandatory due diligence, for AePS touchpoint operators, to be followed by banks. Additional fraud risk management requirements will also be considered. Instructions in this regard shall be issued shortly, the RBI said. Aadhaar Enabled Payment System, operated by NPCI, enables customers to perform digital payment transactions in assisted mode. In 2023, more than 37 crore users undertook AePS transactions, which points to the important role played by AePS in financial inclusion.

RBI plans new framework for authentication of digital transactions

NEW DELHI: The government on Sunday left it to RBI to decide on <keyword id="6371181" type="UNKNOWN" weightage="20" keywordseo="interest-rates">interest rates</keyword> even as the two have begun discussions on putting in place a new monetary policy framework, which is a fresh mechanism to fix rates. 
 
While the government wants Parliament to set the inflation target under the proposed plan, RBI has already gone ahead and begun work towards a glide path, which targets 8% retail inflation by next January and 6% by January 2016. 
 On Sunday, <keyword id="6355261" type="POSITION" weightage="20" keywordseo="Finance-minister">finance minister</keyword> <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, who spoke at the RBI board meeting, did not comment directly on RBI's plan but made it clear that it was the central bank, which will decide on rates. "On last two occasions RBI has announced its policy on interest rates, I had, on the same evening, issued clear statement. I think that is very clear. This is the issue which the Reserve Bank decides and I am sure they will factor in various circumstances," he told reporters after meeting. 
 
Although some viewed it as a "prod" from the government to cut rates, since taking charge Jaitley has maintained that RBI is the final authority on deciding when the time is ripe to tweak rates. 
 "<keyword id="130" type="POSITION" weightage="20" keywordseo="Governor">Governor</keyword>, RBI has already stated that RBI will not hold interest rates high any longer than is necessary and if disinflation proceeds as warranted, there will eventually be room to cut rates. Going forward, the RBI should examine the liquidity situation, inflation and growth in setting policy rates," the <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">finance</keyword> minister had said on Tuesday, when RBI had left policy rates unchanged, while signaling more liquidity infusion into the system. 
 
 
 After the board meeting, RBI governor <keyword id="6358908" type="PERSON" weightage="20" keywordseo="Raghuram-Rajan">Raghuram Rajan</keyword> was more emphatic in saying that time was not ripe. "At this point, uncertainty is two way... Then, of course, if news come on either side we can change what the policy is. But, as of now we think the policy is on target. This is contingent on data coming in," he said. 
 In recent weeks, inflation, industrial production and trade data have been positive but RBI's main worry stems from <keyword id="67286" type="UNKNOWN" weightage="20" keywordseo="Food-inflation">food inflation</keyword> due to weak monsoon rains in several parts of the country. 
 
On the monetary policy framework, Rajan said that so far preliminary discussions have been held and indicated that a final outcome will take time.

New Monetary Policy Framework Under Way

Kolkata, Mar 8 () Hero Enterprise chairman SunilKant Munjal has lauded the regulatory framework of the countrysaying it is getting better and regulators are now stepping inpromptly to handle financial crisis.India is currently experiencing the "pain oftransition", Munjal said at the launch of his book "The Makingof Hero"."A lot of questions on IBC was raised but the way itis functioning... in the next 2-3 years, it will be a smoothfunctioning system," Munjal said at the programme on Saturday.Stakeholders had raised concerns as cases dragged onfor months and years in the NCLT and NCLAT and some of themost important cases have eventually settled in the SupremeCourt.On Goods and Services Tax, Munjal said although theinitial concept of GST was simple, it has now become complexowing to "a lot of political compromises".Nevertheless, he expects that complications around thelatest tax structure would be addressed and GST willeventually evolve into a simpler form.Asked about the RBI's intervention in Yes Bank and thepossibility of SBI picking up a 49 per cent stake in it,Munjal said, "It sends a very mixed signal. On one hand, itproves that the regulatory bodies are awake, On the other, itscared a lot of people who are not able to access theirdeposits."On the state of the economy, he said it is expectedthat consumption may start picking up from the next 2-3 monthsbut it will take 5-6 quarters for a full-fledged recovery tostep in.Asked about the novel coronavirus threat on theeconomy, Munjal said, "I am concerned but not worried. Thenegative impact of the virus should start receding by month-end but it needs to be seen how it impacts."Tata Steel MD and CEO T V Narendran who was present atthe programme said the government has acted swiftly in the YesBank case and its assurance to address problems within atimeframe of 30 days is very prompt. BSMNN NN

Munjal positive on Indian regulatory framework

<ul><li><keyword id="6356155" type="General" weightage="100" keywordseo="cbse" source="Orion">CBSE</keyword> on Sunday announced that it is adopting the <keyword id="16831474" type="General" weightage="80" keywordseo="national-curriculum-framework-for-foundation-stage" source="Orion">National Curriculum Framework for Foundation Stage</keyword>.</li><li>The CBSE also stated that under the new framework, the new structure of five-year education at the foundational stage from nursery to class two will be introduced in the session 2023-24 .</li></ul>New Delhi [India], March 20 (ANI): The <keyword id="69419" type="General" weightage="50" keywordseo="central-board-of-secondary-education" source="Orion">Central Board of Secondary Education</keyword> (CBSE) on Sunday announced that it is adopting the <keyword id="16844954" type="General" weightage="80" keywordseo="national-curriculum-framework-for-foundation" source="Orion">National Curriculum Framework for Foundation</keyword> Stage- 2022 from the academic session 2023-24. In an official notification, CBSE stated that the "NCFFS 2022 has been developed by the NCERT as per the mandate of the National Education Policy 2020 to outline the competencies and learning outcomes, general principles and approaches that should guide teaching and learning at the foundational stage. It serves as a guideline for schools and teachers to design and develop curricula, syllabi, and teaching materials that align with the national educational goals." The CBSE also stated that under the new framework, the new structure of five-year education at the foundational stage from nursery to class two will be introduced in the session 2023-24 in those schools which offer education at the foundational stage to the students in the age group of 3-8 years. The notification stated that NCFFS includes many examples and illustrations which play a critical role in its implementation. "They help to clarify abstract concepts, reinforce learning, and make new ideas more accessible to practising teachers. Myriad examples are aptly incorporated to enhance understanding, foster engagement, and elaborate concrete ways concepts can be implemented in day-to-day teaching. So, it is critical that teachers look at these illustrations and contextualize them according to the needs and contexts of children," it further stated. CBSE further added in the notification, "While schools offering classes I to X/XII may make efforts to gradually augment the infrastructural requirements to include pre-primary classes, schools already running foundational classes may continue to offer 3 years of pre-primary education." (ANI) SEE ALSO: <a href="https://www.businessinsider.in/tech/news/how-is-gpt-4-different-from-chatgpt-and-what-makes-it-unique/articleshow/98688465.cms">How is GPT-4 different from ChatGPT, and what makes it unique?</a> <a href="https://www.businessinsider.in/tech/news/googles-new-ai-features-for-docs-gmail-and-more-to-rival-microsofts-workspace-toolsheres-what-it-means/articleshow/98657324.cms">Google’s new AI features for Docs, Gmail, and more to rival Microsoft’s workspace tools—here’s what it means</a>

CBSE adopts National Curriculum Framework for Foundation Stage from 2023-24

The framework - crypto regulation & India

The framework: Crypto regulation and India

Markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> has proposed expanding the <keyword id="22367248" type="General" weightage="20" keywordseo="sustainable-finance-framework" source="keywords">sustainable finance framework</keyword> in the <keyword id="20922662" type="General" weightage="20" keywordseo="securities-market" source="keywords">securities market</keyword> by introducing a new category of financial instruments. This category will include <keyword id="20518791" type="General" weightage="20" keywordseo="Social-Bonds" source="keywords">social bonds</keyword>, <keyword id="22623575" type="General" weightage="20" keywordseo="Sustainable-Bonds" source="keywords">sustainable bonds</keyword>, and <keyword id="22623576" type="General" weightage="20" keywordseo="Sustainability-linked-Bonds" source="keywords">sustainability-linked bonds</keyword>, in addition to the current <keyword id="22819966" type="General" weightage="20" keywordseo="green-debt-securities" source="keywords">green debt securities</keyword>. It aims to provide issuers with flexibility in raising funds for projects that align with environmental, social, and governance (ESG) objectives. In a consultation paper released on Friday, SEBI proposed that issuers, in addition to existing green debt securities, should be allowed to raise funds through issuance of social bonds, sustainable bonds, and sustainability-linked bonds. These bonds will collectively be known as ESG Debt Securities. This will enable issuers to raise money for more sustainable projects, assisting in closing the funding gap for the Sustainable Development Goals. SEBI said it received representations from market participants including the Confederation of Indian Industry to expand the scope of the regulatory framework pertaining to sustainable finance to include social bonds, in addition to existing green debt securities as a mode of raising sustainable finance, in line with global practices. As per the consultation paper, SEBI said, it "proposed to introduce the concept of sustainable securitised debt instruments for the purpose of providing originators of the underlying credit facilities which are within such international or domestic frameworks for sustainable finance, and thereby provide investors as well an opportunity to participate in the sustainable securitised debt instruments". The consultation paper also addressed the initial and continuous disclosures for sustainable securitised debt instruments that would be based on international frameworks. Initial disclosures could be made in the offer document for the securities, while continuous disclosures might be included in annual reports or other mandated formats. The markets watchdog also suggested that issuers of ESG debt securities and sustainable securitised debt instruments appoint an independent external reviewer or certifier, to facilitate transparency and credibility. The review could take various forms including, second-party opinions, verification, certification, or scoring/ rating. The <keyword id="19901204" type="General" weightage="100" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (SEBI) has invited comments and suggestions from the public on the consultation paper by September 6.

SEBI proposes expansion of sustainable financial framework in securities market

With a vision to make <keyword id="68884" type="PERSON" weightage="20" keywordseo="Telangana">Telangana</keyword> a commercial hub for all space-related products and services, the state government has decided to formulate a space-tech policy framework. The policy aims to push domestic production of launch vehicles, satellite systems and sub-systems and ground equipment manufacturing. State's Principal Secretary, Industry and Commerce, <keyword id="130896" type="PERSON" weightage="20" keywordseo="Jayesh-Ranjan">Jayesh Ranjan</keyword>, said on Sunday that Telangana is creating a holistic framework to develop end-to-end spacetech ecosystem in the state and attempt to capture the emerging global opportunities in space-related investments and innovations. This can potentially create a trickle-down impact on other areas of innovation such as universal connectivity and big data analytics for agriculture, remote education, disaster management, he said. Equal emphasis would be given to downstream applications of remote sensing that have the potential to solve real-life problems in agriculture, disaster management, insurance, urban flood modeling and forestry. The Centre's Department of Space recently released the draft Spacecom policy 2020 and draft SpaceRS policy 2020. Officials said states can significantly contribute to achieving the national objectives like "Atmanirbhar Bharat". Telangana is already home to several renowned start-ups such as Skyroot, Dhruva and other major companies in the spacetech sector. The city has collocated facilities of the <keyword id="152819" type="COMPANY" weightage="20" keywordseo="Defence-Research-and-Development-Organisation">Defence Research and Development Organisation</keyword>, the <keyword id="467450" type="COMPANY" weightage="20" keywordseo="National-Remote-Sensing-Centre">National Remote Sensing Centre</keyword>, the Advanced Data Processing Research Institute, the Defence Research &amp; Development Laboratory, the Research Centre Imarat, the Bharat Dynamics Ltd, the Mishra Dhatu Nigam Ltd, the Ordnance Factory Board, the Defence Metallurgical Research Laboratory, and the Advanced Research Centre for Powder Metallurgy and New Materials. To formulate Telangana's spacetech policy framework, the state government held a virtual consultation. It invited stakeholders like hardware start-ups, analytics start-ups and academia to share their insights during a virtual stakeholder consultation. Uma Maheshwaran, Scientific Secretary, ISRO HQs, and Dr Ravi Kumar, Director, NRSC) also attended the event. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/nasa-says-its-ingenuity-mars-helicopter-sent-a-positive-status-update-as-it-prepares-for-the-flight-the-agency-is-thinking-about-future-crewed-flights-to-the-red-planet-/articleshow/81140085.cms">NASA says its Ingenuity Mars helicopter sent a positive status update. As it prepares for the flight, the agency is thinking about future crewed flights to the Red Planet.</a> <a href="https://www.businessinsider.in/science/space/news/a-japanese-supercomputer-is-on-a-mission-to-find-out-how-our-universe-went-from-nothing-to-everything-in-less-than-a-microsecond/articleshow/81048254.cms">A Japanese supercomputer is on a mission to find out how our universe went from nothing to everything in less than a microsecond</a>

Telangana government to formulate a space-tech policy framework

The framework deal on Iran's nuclear program just agreed to by Iran and the six world powers will lift most sanctions and won't obligate Iran to close or dismantle any nuclear facilities.The details of the agreement are included in this 4-page release handed out to the media covering the talks in Lausanne, Switzerland.&#xa0;<div><div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/beauty-standards-family-values-china-2015-2">What the Chinese saying 'The ugly wife is a treasure at home' actually means</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="A2ZDA2czqSqbJOFG5SDDrvRmvRoUjAPm" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Here's the text of the Iran nuclear framework agreement

Mumbai, June 8 () The Reserve Bank on Monday proposed a comprehensive framework for sale of loan exposures, which could be standard, sub-standard or non-performing assets (NPAs), as part of the overall exercise to deepen the market for lending. Loan sales may be resorted to by lenders for any reasons ranging from strategic sales to rebalance their exposures or as a means to achieve resolution of stressed assets by extinguishing the exposures. Presently, the guidelines for sale of loan exposures, both standard as well as stressed exposures, are spread across various circulars of the RBI. "A dynamic secondary market for bank loans will also ensure proper discovery of credit risk pricing associated with each exposure and will be useful as a leading indicator for impending stress, if any, provided that the volumes are sufficiently large," the RBI said while issuing the comprehensive draft framework for sale of loan exposure. The stakeholders can send their comments on the draft framework to the RBI by June 30. Lenders, the RBI said, resort to loan sales for reasons ranging from strategic sales to rebalance their exposures or as a means to achieve resolution of stressed assets by extinguishing the exposures. The draft guideline proposed by the RBI for sale of loan exposures deals with various issues like asset classification of the loan to be transferred, nature of entity purchasing loan and mode of transfer of loans. As per the draft framework, standard assets would be allowed to be sold by lenders through assignment, novation or a loan participation contract (either funded participation or risk participation). The stressed assets, however, would be allowed to be sold only through assignment or novation only, the draft said adding, "stressed assets may be sold to any entity that is permitted to take on loan exposures by its statutory or regulatory framework". The draft lays down norms for sale of NPAs to Asset Reconstruction Companies (ARCs) also buy back of NPAs in case the ARCs manage to turn them into standard assets. The draft also proposes to do away with the requirement of Minimum Retention Requirement (MRR) for sale of loans by lenders. A dynamic secondary market for bank loans will also ensure proper discovery of credit risk pricing associated with each exposure and will be useful as a leading indicator for impending stress, if any, provided that the volumes are sufficiently large, the draft said. NKD CS MKJ MKJ

RBI proposes comprehensive framework for sale of loans

Mumbai, The <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> on Monday released a 'draft framework for recognising <keyword id="20198317" type="General" weightage="20" keywordseo="self-regulatory-organisations" source="keywords">Self-Regulatory Organisations</keyword> (SRO) for <keyword id="19942953" type="General" weightage="20" keywordseo="fintech-sector" source="keywords">FinTech Sector</keyword>', laying down the characteristics of a <keyword id="19945816" type="General" weightage="20" keywordseo="fintech" source="keywords">FinTech</keyword> SRO, and includes the required functions and governance standards. FinTechs are significantly reshaping the landscape of financial services by streamlining processes, improving accessibility, and reducing costs. Achieving a healthy balance between facilitating innovation by the industry on the one hand, and meeting regulatory priorities in a manner that protects consumers and contains risk, on the other, is crucial to optimising the contribution of the FinTech sector, the RBI said. "Self-regulation within the FinTech sector is a preferred approach for achieving the desired balance," the central bank stated. According to the RBI draft framework, the SRO-FT would derive its strength from its membership, ensuring that it is truly representative of the FinTech sector. Through comprehensive membership agreements that encompass a broad spectrum of industry players, the SRO-FT should gain the legitimacy and credibility to not only frame baseline standards and rules of conduct codes, but also to effectively monitor and enforce them. The SRO-FT must be looked up to and accepted by the industry as the key body for setting market standards, defining rules of conduct and ensuring voluntary adoption of the common framework by its members, the RBI said. The framework also states that the SRO-FT should be development-oriented, actively contributing to the growth and evolution of the industry. This involves providing specialised knowledge and expertise, offering guidance, and contributing to capacity building through training programs, and prescribing minimum eligibility criteria for its members. Also, members should perceive the SRO-FT as a legitimate arbiter of disputes. This would require a transparent and fair resolution mechanism for disputes arising among members that instils confidence in the FinTech industry. By efficiently handling conflicts and grievances, the SRO-FT would contribute to a more stable and harmonious FinTech environment. A proactive <keyword id="20198316" type="General" weightage="20" keywordseo="sroft" source="keywords">SROFT</keyword> should be capable of motivating its members to align with regulatory priorities. This would involve facilitating communication between industry players and regulatory bodies, advocating for necessary changes, and promoting a culture of compliance. The SROFT, as its duty towards ensuring compliance, should be empowered to investigate and take disciplinary action against its members for non-adherence to codes/standards/rules. The RBI said comments from stakeholders and members of the public on the draft framework may be sent by end February 2024, through e-mail. The final framework will be issued taking into account stakeholder and public responses.

RBI releases draft framework for Fintech sector self-regulatory organisations

New Delhi, Nov 14 (IANS) The popular machine learning framework from Google called TensorFlow has become the most popular machine learning library in the world, with over 160 million downloads. Five years ago, Google open-sourced TensorFlow for research and production. "Our goal was to expand access to state-of-the-art machine learning tools so anyone could use them," the company said in a statement on Friday. Since then, thousands of people outside of Google have contributed code, created educational content and organised developer events around the world to support TensorFlow and the growing machine learning community. TensorFlow supports multiple programming languages and environments. You can train your own model (with no coding required) using the Teachable Machine. For instance, you could teach a model to recognize images, or sounds that you record using your microphone. TensorFlow includes a powerful Python library. TensorFlow Lite enables you to build machine learning-powered apps on mobile and small embedded devices. "A group of engineering students in India used TensorFlow Lite to develop an Android app that provides local air quality information using a smartphone camera," Google said. TensorFlow Lite Micro lets you run machine learning models on microcontrollers (tiny computers that can fit in the palm of your hand). TensorFlow also includes a large set of tools and best practices for Responsible AI, including the What-If Tool which tests how machine learning models will work for different people in hypothetical situations. "TensorFlow includes a complete set of tools to power production ML systems, and even supports the latest research in Quantum computing," Google said. --IANS na/

You Searched For "framework" and got 14 results

RBI plans new framework for authentication of digital transactions

IANS

New Monetary Policy Framework Under Way

Times Of India

Munjal positive on Indian regulatory framework

PTI

CBSE adopts National Curriculum Framework for Foundation Stage from 2023-24

ANI

The framework - crypto regulation & India

Business Insider India

The framework - crypto regulation & India

BI India Bureau

The framework - crypto regulation & India

BI India Bureau

The framework: Crypto regulation and India

Business Insider India

SEBI proposes expansion of sustainable financial framework in securities market

PTI

Telangana government to formulate a space-tech policy framework

IANS

Here's the text of the Iran nuclear framework agreement

Marcus Baram

RBI proposes comprehensive framework for sale of loans

PTI

RBI releases draft framework for Fintech sector self-regulatory organisations

IANS

Google ML framework TensorFlow hits 160mn downloads

IANS

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