Third G20 Finance Ministers and Central Bank Governors Meeting

All G20 Finance Ministers and Central Bank Governors agreed to paragraphs 1, 4, and paragraphs 6 to 26 along with Annexes 1 and 2.

We, the Finance Ministers and Central Bank Governors of G20 countries, met on 17-18 July 2023, in Gandhinagar, India. Under the Indian Presidency’s theme of “One Earth, One Family, One Future”, we pledge to prioritize the well-being of our people and the planet and reaffirm our commitment to enhancing international economic cooperation, strengthening global development for all and steering the global economy towards strong, sustainable, balanced, and inclusive growth (SSBIG).
¹ ²Since February 2022, we have also witnessed the war in Ukraine further adversely impact the global economy. There was a discussion on the issue. We reiterated our national positions as expressed in other fora, including the UN Security Council and the UN General Assembly, which, in Resolution No. ES- 11/1 dated 2 March 2022, as adopted by majority vote (141 votes for, 5 against, 35 abstentions, 12 absent), deplores in the strongest terms the aggression by the Russian Federation against Ukraine and demands its complete and unconditional withdrawal from the territory of Ukraine. Most members strongly condemned the war in Ukraine and stressed that it is causing immense human suffering and exacerbating existing fragilities in the global economy constraining growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and elevating financial stability risks. There were other views and different assessments of the situation and sanctions. Recognising that the G20 is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy.
It is essential to uphold international law and the multilateral system that safeguards peace and stability. This includes defending all the Purposes and Principles enshrined in the Charter of the United Nations and adhering to international humanitarian law, including the protection of civilians and infrastructure in armed conflicts. The use or threat of use of nuclear weapons is inadmissible. The peaceful resolution of conflicts, efforts to address crises, as well as diplomacy and dialogue are vital. Today’s era must not be of war.

¹ China stated that the G20 FMCBG meeting is not the right forum to discuss geopolitical issues.

² Russia dissociated itself from the status of this document as a common outcome because of references in paragraphs 2, 3 and 5.

Global economic growth is below its long-run average and remains uneven. The uncertainty around the outlook remains high. With notable tightening in global financial conditions, which could worsen debt vulnerabilities, persistent inflation and geoeconomic tensions, the balance of risks remains tilted to the downside. We, therefore, reiterate the need for well-calibrated monetary, fiscal, financial, and structural policies to promote growth, reduce inequalities and maintain macroeconomic and financial stability. We will continue to enhance macro policy cooperation and support the progress towards the 2030 Agenda for Sustainable Development. We reaffirm that achieving SSBIG will require policymakers to stay agile and flexible in their policy response, as evidenced during the recent banking turbulence in a few advanced economies where expeditious action by relevant authorities helped to maintain financial stability and manage spillovers. We welcome the initial steps taken by the Financial Stability Board (FSB), Standard Setting Bodies (SSBs) and in certain jurisdictions to examine what lessons can be learned from this recent banking turbulence and encourage them to advance their ongoing work. We will use macroprudential policies, where required, to safeguard against downside risks. Central banks remain strongly committed to achieving price stability in line with their respective mandates. They will ensure that inflation expectations remain well anchored and will clearly communicate policy stances to help limit negative cross-country spillovers. Central bank independence is crucial to maintaining policy credibility. We will prioritise temporary and targeted fiscal measures to protect the poor and the most vulnerable, while maintaining medium-term fiscal sustainability. We will ensure the coherence of the overall monetary and fiscal stances. We recognise the importance of supply-side policies, especially policies that increase labour supply and enhance productivity to boost growth and alleviate price pressures. We reaffirm our April 2021 exchange rate commitments. We also reaffirm the importance of the rules-based, non-discriminatory, fair, open, inclusive, equitable, sustainable and transparent multilateral trading system with the World Trade Organization (WTO) at its core in restoring growth and job creation and reiterate our commitment to fight protectionism and encourage concerted efforts for reform of the WTO.
While global food and energy prices have fallen from their peak levels, the potential for high levels of volatility in food and energy markets remains, given the uncertainties in the global economy. In this context, we welcome the G20 Report on Macroeconomic Impacts of Food and Energy Insecurity and their Implications for the Global Economy, informed by policy experiences shared by members and supported by analysis from the International Monetary Fund (IMF), World Bank Group (WBG), International Energy Agency (IEA) and Food and Agriculture Organisation (FAO) and take note of its voluntary and non-binding policy learnings. We look forward to an ambitious replenishment of the International Fund for Agricultural Development (IFAD) resources at the end of the year by IFAD members, to support IFAD’s fight against food insecurity.
We also take note of the discussions on assessing macroeconomic risks to SSBIG, including those stemming from climate change and various transition policies considering country-specific circumstances and different levels of development. The macroeconomic costs of the physical impacts of climate change are significant at an aggregate level and the cost of inaction substantially outweighs that of orderly and just climate transitions. We recognise the importance of international dialogue and cooperation, including in the areas of finance and technology, and timely policy action consistent with country- specific circumstances. It is also critical to assess and account for the short, medium and long-term macroeconomic impact of both the physical impact of climate change and transition policies, including on growth, inflation, and unemployment. We endorse the G20 Report on Macroeconomic Risks Stemming from Climate Change and Transition Pathways that presents an evidence-based assessment informed by policy experiences shared by members and technical inputs from the IMF, IEA, and the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Building on analysis in this Report, we will consider further work on the macroeconomic implications, as appropriate, particularly as relevant for fiscal and monetary policies, drawing on the inputs from a diverse set of stakeholders.
We remain committed to pursuing ambitious efforts to evolve and strengthen Multilateral Development Banks (MDBs) to address the global challenges of the 21^st century with a continued focus on addressing the development needs of low- and middle-income countries.
Following up on the mandate from our Leaders in Bali in November 2022 and based on the updates from MDBs in Spring 2023, a G20 Roadmap for Implementing the Recommendations of the G20 Independent Review of MDBs Capital Adequacy Frameworks (CAFs) has been developed. We endorse this Roadmap and call for its ambitious implementation, within MDBs’ own governance frameworks while safeguarding their long-term financial sustainability, robust credit ratings and preferred creditor status. We also call for a regular review of the progress of implementation on a rolling basis including through engaging with MDBs, subject experts and shareholders. We commend the MDBs for their progress in implementing the CAF recommendations, especially with respect to adapting definitions of risk appetite and financial innovation. At the same time, we emphasise the need to give an additional push to CAF implementation. We appreciate the ongoing collaboration among MDBs on the timely release of Global Emerging Markets (GEMs) data and the launch of GEMs 2.0 as a stand-alone entity by early 2024. Going forward, we also encourage MDBs to collaborate in areas such as hybrid capital, callable capital, and guarantees. We appreciate the enhanced dialogue between the MDBs, Credit Rating Agencies and shareholders and encourage continued transparency in the exchange of information and rating methodologies. We take note that initial CAF measures, including those under implementation and consideration, could potentially yield additional lending headroom of approximately USD 200 billion over the next decade, as estimated in the G20 CAF Roadmap. While these are encouraging first steps, we will need continued and further impetus on CAF implementation.
Furthermore, we reiterate our call for the MDBs to undertake comprehensive efforts to evolve their vision, incentive structures, operational approaches and financial capacities so that they are better equipped to maximize their impact in addressing a wide range of global challenges, while being consistent with their mandate and commitment to accelerate progress towards Sustainable Development Goals (SDGs). Recognising the urgent need to strengthen and evolve the MDB ecosystem for the 21^st century, we appreciate the efforts of the G20 Independent Expert Group on Strengthening MDBs in preparing Volume 1 of the Report, and we will examine it in conjunction with Volume 2 expected in October 2023. We take note of Volume 1’s recommendations and the MDBs may choose to discuss these recommendations as relevant and appropriate, within their governance frameworks, in due course, with a view to enhancing the effectiveness of MDBs. We look forward to a High-Level Seminar, on the sidelines of the Fourth FMCBG meeting in October 2023 on strengthening the financial capacity of MDBs. We encourage MDBs to update the International Financial Architecture Working Group (IFA WG) on their evolution efforts to better address global challenges. We welcome the March 2023 Report on Evolution of the World Bank Group and call on the World Bank to advance the implementation of the agreed actions and continue to develop further proposals that can contribute to significant progress of the Bank’s evolution exercise by the IMF/WBG 2023 Annual Meetings in Marrakech. Recognising other multilateral efforts in this area, we take note of the Summit for a New Global Financing Pact. We also look forward to an ambitious IDA21 replenishment. We acknowledge the concluding report on the 2020 Shareholding Review of the International Bank for Reconstruction and Development (IBRD) and look forward to the 2025 Shareholding Review.
We reiterate our commitment to a strong, quota-based, and adequately resourced IMF at the centre of the global financial safety net. We remain committed to revisiting the adequacy of quotas and will continue the process of IMF governance reform under the 16th General Review of Quotas (GRQ), including a new quota formula as a guide, and ensure the primary role of quotas in IMF resources, to be concluded by December 15, 2023. In this context, we support at least maintaining the IMF’s current resource envelope. We welcome the landmark achievement of the global ambition of USD 100 billion of voluntary contributions (in SDRs or equivalent) and USD 2.6 billion of grants in pledges for countries most in need and call for the swift delivery of pending pledges. We welcome the progress achieved under the Resilience and Sustainability Trust (RST) and Poverty Reduction and Growth Trust (PRGT) with pledges for the RST amounting to about USD 45.5 billion and for the PRGT to about USD 24.2 billion in loan resources and nearly USD 1.9 billion in subsidy resources, respectively, through the voluntary channelling of Special Drawing Rights (SDRs) or equivalent contributions. We call for further voluntary subsidy and loan pledges to the PRGT by the IMF/WBG 2023 Annual Meetings in Marrakech to meet the first stage PRGT fundraising needs. We look forward to the IMF delivering a preliminary analysis, by the 2023 IMF/WBG Annual Meetings, of the range of options to put the PRGT on a sustainable footing with a view to meeting the growing needs of low-income countries in the coming years. The G20 reiterates its continued support to Africa, including through the G20 Compact with Africa. We will continue to monitor progress on channelling SDRs or equivalent contributions from countries with strong external positions and look forward to the IMF Ex-Post Report on the use of SDRs in September. We will continue to monitor the effectiveness of RST supported programs and look forward to interim review scheduled for April 2024. We look forward to further progress on the exploration of viable options for channelling SDRs through MDBs, while respecting relevant legal frameworks and the need to preserve the reserve asset character and status of SDRs. We look forward to the review of precautionary arrangements (FCL, PLL and SLL) and take note of the discussions held on the IMF surcharge policy.
We welcome discussions on the potential macro-financial implications arising from the introduction and adoption of Central Bank Digital Currencies (CBDCs), notably on cross-border payments as well as on the international monetary and financial system. We welcome the BIS Innovation Hub (BISIH) Report on Lessons Learnt on CBDCs and look forward to the IMF Report on Potential macro-financial implications of widespread adoption of CBDCs to advance the discussion on this issue. We also look forward to continued discussions on the implementation of international frameworks for the use of different tools in addressing capital flow volatility based on the policy updates by the IMF, the OECD, and the BIS while being mindful of their original purpose. We reiterate our commitment to promote sustainable capital flows. To this effect, we note the OECD’s Report on Towards Orderly Green Transition – Investment Requirements and Managing Risks to Capital Flows.
We re-emphasise the importance of addressing debt vulnerabilities in low and middle-income countries in an effective, comprehensive and systematic manner. We continue to stand by all the commitments made in the Common Framework for Debt Treatments beyond the DSSI, including those in the second and final paragraphs, as agreed on November 13, 2020, and step up the implementation of the Common Framework in a predictable, timely, orderly and coordinated manner. To this end, we ask the G20 International Financial Architecture Working Group (IFA WG) to continue discussing policy-related issues linked to implementation of the Common Framework and make appropriate recommendations. We welcome the recent agreement between the Government of Zambia and official creditor committee on a debt treatment and look forward to a swift resolution. We welcome the formation of an official creditor committee for Ghana and look forward to an agreement on a debt treatment as soon as possible. We also call for a swift conclusion of the debt treatment for Ethiopia. Beyond the Common Framework, we welcome all efforts for timely resolution of the debt situation of Sri Lanka, including the formation of the official creditor committee, and we call for the resolution as soon as possible. Noting the work in developing the G20 Note on the Global Debt Landscape in a fair and comprehensive manner, we ask the G20 IFA WG to continue the development expeditiously. We encourage the efforts of the Global Sovereign Debt Roundtable (GSDR) participants to strengthen communication and foster a common understanding among key stakeholders, both within and outside the Common Framework, for facilitating effective debt treatments.
We welcome joint efforts by all stakeholders, including private creditors, to continue working towards enhancing debt transparency. We note the results of the voluntary stocktaking exercise of data sharing with International Financial Institutions. We welcome the efforts of private sector lenders who have already contributed data to the joint Institute of International Finance (IIF)/OECD Data Repository Portal and continue to encourage others to also contribute on a voluntary basis.
We emphasise the need for enhanced mobilisation of finances and efficient use of existing resources in our efforts to make the cities of tomorrow inclusive, resilient, and sustainable. To this effect, we endorse the G20 Principles for Financing Cities of Tomorrow, which are voluntary and non-binding in nature and the G20/OECD Report on Financing Cities of Tomorrow, which provides a financing strategy as well as presents a compendium of innovative urban planning and financing models. We encourage stakeholders, including the Development Financial Institutions and the MDBs, to explore the potential of drawing upon these principles in their planning and financing of urban infrastructure wherever applicable and share experiences from early pilot cases. We note the progress in outlining the enablers of inclusive cities. We also note the customisable G20/ADB Framework on Capacity Building of Urban Administration to guide local governments in assessing and enhancing their overall institutional capacity for the effective delivery of public services. We note the ongoing pilot application of the voluntary and non-binding Quality Infrastructure Investment (QII) Indicators and look forward to further discussion on their application considering the country circumstances. We thank the Global Infrastructure Hub for supporting the G20’s multi-year infrastructure agenda since 2014. We note that the GIH Board and shareholders are currently engaged in exploring a way to best sustain the value created so far. We look forward to the outcome report of the 2023 Infrastructure Investors Dialogue focused on integrating the private sector perspective in designing policies for financing cities of tomorrow.
We continue to reaffirm our steadfast commitment to strengthening the full and effective implementation of the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. We recall and reaffirm the commitment made by developed countries to the goal of mobilising jointly USD 100 billion climate finance per year by 2020, and annually through 2025, to address the needs of developing countries, in the context of meaningful mitigation action and transparency in implementation. Developed country- contributors expect this goal to be met for the first time in 2023. In this context, we also support continued deliberations on an ambitious new collective quantified goal of climate finance from a floor of USD 100 billion per year to support developing countries, that helps in fulfilling the objective of the UNFCCC and implementation of the Paris Agreement.
We welcome the Sustainable Finance Working Group (SFWG) recommendations on the mechanisms to support the timely and adequate mobilisation of resources for climate finance, while ensuring support for transition activities in line with country circumstances. We also recognise the significant role of public finance, as an important enabler of climate actions such as leveraging much-needed private finance through blended financial instruments, mechanisms and risk-sharing facilities, to address both adaptation and mitigation efforts in a balanced manner for reaching the ambitious Nationally Determined Contributions (NDCs), carbon neutrality and net-zero considering different national circumstances. We welcome the recommendations for scaling up blended finance and risk-sharing facilities, including the enhanced role of MDBs in mobilizing climate finance. We underscore the importance of maximizing the effect of concessional resources, such as those of the multilateral climate funds to support developing countries’ implementation of the Paris Agreement and look forward to an ambitious replenishment of the Green Climate Fund (GCF) this year. Recognizing the importance of supporting the commercialization of early-stage technologies that avoid, abate and remove greenhouse gas emissions and facilitate adaptation, we note the recommendations on financial solutions, policies, and incentives to encourage greater private flows for the rapid development, demonstration, and deployment of green and low-carbon technologies. We reiterate the importance of a policy mix consisting of fiscal, market and regulatory mechanisms including, as appropriate, the use of carbon pricing and non-pricing mechanisms and incentives, toward carbon neutrality and net zero. We look forward to the early finalisation of the Compendium comprising the discussions on Non-Pricing Policy Levers to Support Sustainable Investment.
We reiterate our commitment to take action to scale up sustainable finance. In line with the G20 Sustainable Finance Roadmap, we welcome the analytical framework for SDG-aligned finance, and voluntary recommendations for scaling-up adoption of social impact investment instruments and improving nature-related data and reporting, informed by the stocktaking analyses, considering country circumstances. We encourage all relevant stakeholders to consider these recommendations in their actions and support for the 2030 Agenda.
We endorse the multi-year G20 Technical Assistance Action Plan (TAAP) and the voluntary recommendations made to overcome data-related barriers to climate investments. We encourage the implementation of TAAP by relevant jurisdictions and stakeholders in line with the national circumstances. We look forward to reporting on the progress made by members, international organisations, networks and initiatives in the implementation of the G20 Sustainable Finance Roadmap, which is voluntary and flexible in nature, and call for further efforts to advance the Roadmap’s recommended actions that will scale up sustainable finance, including among others the implementation of the Transition Finance Framework. We look forward to the finalisation of the 2023 G20 Sustainable Finance Report, including a review of the implementation of the G20 Sustainable Finance Roadmap. We welcome finalization of the sustainability and climate-related disclosure standards published by the International Sustainability Standards Board (ISSB) in June 2023, which provide the mechanisms that address proportionality and promote interoperability. It is important that flexibility, to take into account country- specific circumstances, is preserved in the implementation of those standards. When put into practice as above, those standards will help to support globally comparable and reliable disclosures.
We remain committed to strengthening the global health architecture for pandemic prevention, preparedness and response (PPR) through enhanced collaboration between Finance and Health Ministries under the Joint Finance and Health Task Force (JFHTF). Under the JFHTF, we welcome the participation of invited key regional organisations in the Task Force meetings as they enhance the voice of low-income countries. We welcome the discussion on the Framework on Economic Vulnerabilities and Risks (FEVR) and the initial Report for Economic Vulnerabilities and Risks arising from pandemics, created through collaboration between World Health Organisation (WHO), World Bank, IMF, and European Investment Bank (EIB). We call on the Task Force to continue refining this Framework over its multi-year work plan in order to regularly assess economic vulnerabilities and risks due to evolving pandemic threats, taking into account country-specific circumstances. We welcome the Report on Best Practices from Finance Health Institutional Arrangements during Covid-19 that will contribute towards joint finance-health sector readiness to support our response to future pandemics. We welcome the Report on Mapping Pandemic Response Financing Options and Gaps developed by the WHO and World Bank and look forward to further deliberations on how financing mechanisms could be optimized, better coordinated and, when necessary, suitably enhanced, to deploy the necessary financing quickly and efficiently, duly considering discussions in other global forums. The analysis provided by these three reports will offer important inputs for discussion in the Joint Finance-Health Ministerial Meeting in August on global response to the next pandemic threat. We welcome the conclusion of the call for proposals by the Pandemic Fund and look forward to the first round of funding in the coming months.
We reaffirm our commitment to continue cooperation towards a globally fair, sustainable and modern international tax system appropriate to the needs of the 21^st century. We welcome the delivery of a text of a Multilateral Convention (MLC) on Amount A, significant progress of work on Amount B and the completion of the work on the development of the Subject to Tax Rule (STTR) and its implementation framework as set out in the July 2023 Outcome Statement of the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework). We call on the Inclusive Framework to swiftly resolve the few pending issues relating to the MLC with a view to prepare the MLC for signature in the second half of 2023 and complete the work on Amount B by end of 2023. We welcome the steps taken by various countries to implement the Global Anti-Base Erosion (GloBE) Rules as a common approach. We recognise the need for coordinated efforts towards capacity building to implement the two-pillar international tax package effectively and in particular, welcome a plan for additional support and technical assistance for developing countries. We welcome the launch of the pilot programme of the South Asia Academy in India for tax and financial crime investigation in collaboration with OECD. We note the 2023 update of the G20/OECD Roadmap on Developing Countries and International Taxation. We note the Update on the Implementation of the 2021 Strategy on Unleashing the Potential of Automatic Exchange of Information for Developing Countries by the Global Forum on Transparency and Exchange of Information for Tax Purposes (“Global Forum”). We call for the swift implementation of the Crypto-Asset Reporting Framework (“CARF”) and amendments to the CRS. We ask the Global Forum to identify an appropriate and coordinated timeline to commence exchanges by relevant jurisdictions, noting the aspiration of a significant number of these jurisdictions to start CARF exchanges by 2027, and to report to our future meetings on the progress of its work. We note the OECD Report on Enhancing International Tax Transparency on Real Estate and the Global Forum Report on Facilitating the Use of Tax-Treaty-Exchanged Information for Non-Tax Purposes. We note the discussions held at the G20 High-Level Tax Symposium on Combatting Tax Evasion, Corruption and Money Laundering.
We continue to closely monitor the risks of the fast-paced developments in the crypto-asset ecosystem. We endorse the Financial Stability Board’s (FSB’s) high-level recommendations for the regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements. We ask the FSB and standard-setting bodies (SSBs) to promote the effective and timely implementation of these recommendations in a consistent manner globally to avoid regulatory arbitrage. We welcome the shared FSB and SSBs workplan for crypto assets. We look forward to receiving the IMF-FSB Synthesis Paper, including a Roadmap, before the Leaders’ Summit in September 2023, to support a coordinated and comprehensive policy and regulatory framework taking into account the full range of risks, and risks specific to the emerging market and developing economies (EMDEs) and ongoing global implementation of FATF standards to address money laundering and terrorism financing risks. In this context, we note the Presidency Note as an important input for the Synthesis Paper. We also welcome the BIS Report on The Crypto Ecosystem: Key Elements and Risks.
We continue to strongly support the work of the FSB and SSBs to address vulnerabilities and enhance the resilience of non-bank financial intermediation (NBFI) from a systemic perspective while monitoring evolving developments in NBFI. We welcome the FSB’s consultation report on revisions to the FSB 2017 recommendations on addressing liquidity mismatch in open-ended funds, and we support work to promote implementation of the FSB money market fund proposals, enhance margining practices, and address vulnerabilities from non-bank leverage. We welcome the FSB’s recommendations to achieve greater convergence in cyber incident reporting, updates to the Cyber Lexicon and Concept Note for a Format for Incident Reporting Exchange (FIRE). We look forward to the FSB’s work to identify the reporting needs and the prerequisites for and feasibility of the development of FIRE, and we ask the FSB to develop an action plan with appropriate timelines.
We welcome the FSB’s consultation Report on Enhancing Third-party Risk Management and Oversight. We expect the toolkit to support efforts in enhancing the operational resilience of financial institutions, addressing the challenges arising from their growing reliance on critical third-party service providers including BigTechs and FinTechs, as well as reducing fragmentation in regulatory and supervisory approaches across jurisdictions and in different areas of the financial services sector. We reaffirm our commitment to the effective implementation of the prioritised actions for the next phase of the G20 Roadmap for Enhancing Cross-border Payments and welcome the initiatives undertaken by SSBs and international organisations in this direction. To that end, we look forward to the FSB’s progress report in October on the implementation of this roadmap. We look forward to the G20 TechSprint 2023, a joint initiative with the BIS Innovation Hub, which will promote innovative solutions aimed at improving cross-border payments. We welcome the annual progress Report on the FSB’s Roadmap for Addressing Financial Risks from Climate Change. We endorse the revised G20/OECD Principles of Corporate Governance with the aim to strengthen policy and regulatory frameworks for corporate governance that support sustainability and access to finance from capital markets, which in turn can contribute to the resilience of the broader economy.
We welcome the progress made by the Global Partnership for Financial Inclusion (GPFI) towards the completion of the deliverables under the G20 2020 Financial Inclusion Action Plan (FIAP). We welcome the 2023 Update to Leaders on Progress towards the G20 Remittance Target and endorse the Regulatory Toolkit for Enhanced Digital Financial Inclusion of Micro, Small and Medium Enterprises (MSMEs). We endorse the voluntary and non-binding G20 Policy Recommendations for Advancing Financial Inclusion and Productivity Gains through Digital Public Infrastructure. We take note of the significant role of digital public infrastructure in helping to advance financial inclusion in support of inclusive growth and sustainable development. We also encourage the continuous development and responsible use of technological innovations including innovative payment systems, to achieve financial inclusion of the last mile and progress towards reducing the cost of remittances in line with the G20 Leaders’ directions. We also support continuous efforts to strengthen digital financial literacy and consumer protection. We endorse the G20 2023 FIAP, which provides an action-oriented and forward-looking roadmap for rapidly accelerating the financial inclusion of individuals and MSMEs, particularly vulnerable and underserved groups in the G20 countries and beyond. We also endorse the 2023 Updated GPFI Terms of Reference.
We recognise the importance of delivering on the strategic priorities of the Financial Action Task Force (FATF) and FATF Style Regional Bodies. We commit to supporting their increasing resource needs and encourage others to do the same, including for the next round of mutual evaluations. We remain committed to the timely and global implementation of the revised FATF Standards on the transparency of beneficial ownership of legal persons and legal arrangements to make it more difficult for criminals to hide and launder ill- gotten gains. We welcome the ongoing work of the FATF to enhance global efforts to recover criminal proceeds, in particular, the progress made by the FATF towards revising its standards on asset recovery and reinforcing global asset recovery networks. We reiterate the importance of countries developing and implementing effective regulatory and supervisory frameworks to mitigate risks associated with virtual assets in line with FATF Standards especially for terrorism financing, money laundering, and proliferation financing risks. In this regard, we support the FATF’s initiative to accelerate the global implementation of its standards, including the “travel rule”, and its work on risks of emerging technologies and innovations, including decentralised finance (DeFi) arrangements and peer-to-peer transactions. We look forward to the completion of FATF’s work on the use of crowdfunding for terrorism financing and on money laundering related to cyber-enabled fraud.
With a vision reminiscent of Mahatma Gandhi’s teachings, we, the Finance Ministers and Central Bank Governors of G20 countries, envisage a future in which every nation thrives, prosperity is widely shared, and the well-being of humanity and the planet are harmoniously intertwined.

Annex I: Issues for further work

This Annex lists the deliverables from various G20 Finance Track workstreams following the July FMCBG meeting.

Framework Working Group

G20 IMF Report on Strong, Sustainable, Balanced and Inclusive Growth, October 2023, in the context of increasing vulnerabilities associated with macroeconomic instabilities and financial globalisation.

International Financial Architecture Working Group

· Volume 2 of the Report of G20 Expert Group on Strengthening MDBs

Regular review of the progress of implementation of CAF recommendations on a rolling basis including through engaging with MDBs, subject experts and shareholders

· Updates from IMF on the progress of the 16^th General Review of Quotas

Update from the IMF on the ex-post assessment of 2021 SDR allocation
Continued exploration of opportunities for a “User manual” for the Common

Framework presenting the experience of the first cases.

G20 IFA WG to continue developing expeditiously the G20 Note on the Global Debt Landscape in a fair and comprehensive manner.
IFA WG to continue discussing policy-related issues linked to implementation of the Common Framework and make appropriate recommendations
Technical workshops to be held under the ambit of GSDR, such as the one on Comparability of Treatment (CoT).
Improvements to sovereign debt restructuring by continuing the discussion on some specific debt instruments, including potential best practices for LICs on collateralised financing practices, exploring ways to increase private sector involvement, in particular regarding the restructuring of syndicated loans, collective action clauses, assessing the benefits and complications of state- contingent debt instruments (SCDI), and climate-resilient debt clauses in international sovereign bonds and in official bilateral lending.
IMF Report on the potential macro-financial implication of widespread adoption of CBDCs, in September 2023.

Infrastructure

Continuation of the InfraTracker 2.0 to track planned infrastructure investments across G20 member economies using publicly available sources and transition it to an online tool.
Compilation of the scope and taxonomies related to infrastructure across G-20 economies and International Organisations.

Sustainable Finance Working Group

Monitoring and reporting of progress on G20 Sustainable Finance Roadmap on the SFWG online dashboard.
Finalisation of the 2023 G20 Sustainable Finance Report.
Compendium of case studies for financing SDGs.

International Taxation

A Handbook by the OECD on Pillar Two to facilitate implementation through a common approach, especially to assist capacity-constrained jurisdictions and present the Handbook by October 2023.

Financial Sector Issues

A joint synthesis paper by the IMF and the FSB integrating the macroeconomic and regulatory perspectives of crypto assets to be submitted in September 2023.
An interim report by the BIS Committee on Payments and Market Infrastructures (CPMI) on Fast Payment Systems (FPS) interlinking governance, risk management and oversight considerations; and the final report on ISO 20022 harmonisation requirements for cross-border payments in October 2023.
FSB to provide a report on the financial stability implications of leverage in NBFI in September 2023.
FSB to provide an overall progress report on enhancing the resilience of NBFI in September 2023.
FSB to provide its Annual Report on Promoting Global Financial Stability in October 2023.
FSB to report in October 2023 its progress on the implementation of the G20 Roadmap for Enhancing Cross-Border Payments.
FSB, in coordination with the ISSB and IOSCO, to prepare a report on the progress of jurisdictions and firms on climate-related financial disclosures by October 2023.

Global Partnership for Financial Inclusion

GPFI will continue work to complete the Second Update of National Remittance Plans and present a case-study on the impact of digital remittances in reducing the cost of remittances.
GPFI will report on progress in implementing the G20 GPFI High-Level Principles on Digital Financial Inclusion.
GPFI to work on SME best practices and innovative instruments to overcome common constraints in SME financing based on GPFI SME living database.

Annex 2: Reports and Documents received

G20 Report on Macroeconomic Impacts of Food and Energy Insecurity and their implications for the global economy
G20 Report on Macroeconomic risks stemming from climate change and transition pathways
G20 Roadmap for implementing the recommendations of the G20 Independent Review of MDBs Capital Adequacy Frameworks (CAFs)
Volume 1 of the G20 Expert Group on Strengthening MDBs
BIS Innovation Hub (BISIH) Report on “Lessons learnt on CBDCs”
OECD’s report on “Towards Orderly Green Transition – Investment Requirements and Managing Risks to Capital Flows
G20 note on the total global ambition of USD 100bn of voluntary contributions for countries most in need
G20 Principles for Financing Cities of Tomorrow: inclusive, resilient and sustainable
G20/OECD Report on Financing Cities of Tomorrow
G20/ADB Framework on Capacity Building of Urban Administration
G20 Sustainable Finance Working Group Deliverables
Framework on Economic Vulnerabilities and Risks (FEVR) and the initial Report for economic vulnerabilities and risks arising from pandemics
Report on Best Practices from Finance Health Institutional Arrangements during Covid-19
Report on Mapping Pandemic Response Financing Options and Gaps developed by the WHO and World Bank
G20/OECD Roadmap on Developing Countries and International Taxation Update 2023
OECD Report on ‘Enhancing International Tax Transparency on Real Estate’
Global Forum Report on ‘Facilitating the Use of Tax-Treaty-Exchanged Information for Non-Tax Purposes’
Global Forum Update on the implementation of the 2021 Strategy on Unleashing the Potential of Automatic Exchange of Information for Developing Countries
FSB Chair’s Letters to G20 Finance Ministers and Central Bank Governors, April and July 2023.
FSB’s global regulatory framework for crypto-asset activities: Umbrella public note to accompany final framework
FSB’s high-level recommendations for the regulation, supervision, and oversight of crypto-asset activities and markets
FSB’s high-level recommendations for the regulation, supervision, and oversight of global stablecoin arrangements
BIS Report on “The crypto ecosystem: key elements and risks”.
FSB Consultation report on addressing liquidity mismatch in open-ended funds-Revisions to the FSB 2017 policy recommendations
FSB Report on Enhancing Third-Party Risk Management and Oversight: A toolkit for financial institutions and financial authorities
FSB Roadmap for Addressing Financial Risks from Climate Change: 2023 Progress Report
FSB Recommendations to Achieve Greater Convergence in Cyber Incident Reporting: Final Report
FSB Concept Note on Format for Incident Reporting Exchange (FIRE) – A possible way forward
Revised G20/OECD Principles of Corporate Governance
G20 Policy Recommendations for Advancing Financial Inclusion and Productivity Gains through Digital Public Infrastructure
2023 Update to Leaders on Progress towards the G20 Remittance Target
Regulatory Toolkit for Enhanced Digital Financial Inclusion of Micro, Small and Medium Enterprises (MSMEs)
G20 2023 FIAP
2023 Updated GPFI Terms of Reference.
2023 GPFI Progress Report to G20 Leaders
G20 Financial Inclusion Action Plan Progress Report 2021-23
FATF Report- Countering Ransomware Financing Report (March 2023)
Targeted Update on the Implementation of the FATF Standards for Virtual Assets (June 2023)
FATF Report on Guidance on Beneficial Ownership Transparency for Legal Persons (March 2023)

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General issues on Environmental ecology

The environment plays a significant role to support life on earth. But there are some issues that are causing damages to life and the ecosystem of the earth. It is related to the not only environment but with everyone that lives on the planet. Besides, its main source is pollution, global warming, greenhouse gas, and many others. The everyday activities of human are constantly degrading the quality of the environment which ultimately results in the loss of survival condition from the earth.There are hundreds of issue that causing damage to the environment. But in this, we are going to discuss the main causes of environmental issues because they are very dangerous to life and the ecosystem.

Pollution – It is one of the main causes of an environmental issue because it poisons the air, water, soil, and noise. As we know that in the past few decades the numbers of industries have rapidly increased. Moreover, these industries discharge their untreated waste into the water bodies, on soil, and in air. Most of these wastes contain harmful and poisonous materials that spread very easily because of the movement of water bodies and wind. Greenhouse Gases – These are the gases which are responsible for the increase in the temperature of the earth surface. This gases directly relates to air pollution because of the pollution produced by the vehicle and factories which contains a toxic chemical that harms the life and environment of earth. Climate Changes – Due to environmental issue the climate is changing rapidly and things like smog, acid rains are getting common. Also, the number of natural calamities is also increasing and almost every year there is flood, famine, drought, landslides, earthquakes, and many more calamities are increasing.

Development recognises that social, economic and environmental issues are interconnected, and that decisions must incorporate each of these aspects if there are to be good decisions in the longer term.For sustainable development, accurate environment forecasts and warnings with effective information on pollution which are essential for planning and for ensuring safe and environmentally sound socio-economic activities should be made known.

THE EARTH IS WHAT WE
ALL HAVE IN COMMAN

History of India & Indian National Movement.

Early times the Indian subcontinent appears to have provided an attractive habitat for human occupation. Toward the south it is effectively sheltered by wide expanses of ocean, which tended to isolate it culturally in ancient times, while to the north it is protected by the massive ranges of the Himalayas, which also sheltered it from the Arctic winds and the air currents of Central Asia. Only in the northwest and northeast is there easier access by land, and it was through those two sectors that most of the early contacts with the outside world took place.

Within the framework of hills and mountains represented by the Indo-Iranian borderlands on the west, the Indo-Myanmar borderlands in the east, and the Himalayas to the north, the subcontinent may in broadest terms be divided into two major divisions: in the north, the basins of the Indus and Ganges (Ganga) rivers (the Indo-Gangetic Plain) and, to the south, the block of Archean rocks that forms the Deccan plateau region. The expansive alluvial plain of the river basins provided the environment and focus for the rise of two great phases of city life: the civilization of the Indus valley, known as the Indus civilization, during the 3rd millennium BCE; and, during the 1st millennium BCE, that of the Ganges. To the south of this zone, and separating it from the peninsula proper, is a belt of hills and forests, running generally from west to east and to this day largely inhabited by tribal people. This belt has played mainly a negative role throughout Indian history in that it remained relatively thinly populated and did not form the focal point of any of the principal regional cultural developments of South Asia. However, it is traversed by various routes linking the more-attractive areas north and south of it. The Narmada (Narbada) River flows through this belt toward the west, mostly along the Vindhya Range, which has long been regarded as the symbolic boundary between northern and southern India.

India’s movement for Independence occurred in stages elicit by the inflexibility of the Britishers and in various instances, their violent responses to non-violent protests. It was understood that the British were controlling the resources of India and the lives of its people, and as far as this control was ended India could not be for Indians.

On 28 December 1885 Indian National Congress (INC) was founded on the premises of Gokuldas Tejpal Sanskrit School at Bombay. It was presided over by W.C Banerjee and attended by 72 delegates. A.O Hume played an instrumental role in the foundation of INC with an aim to provide Safety Valve to the British Government.
A.O Hume served as the first General Secretary of INC.
The real Aim of Congress is to train the Indian youth in political agitation and to organise or to create public opinion in the country. For this, they use the method of an annual session where they discuss the problem and passed the resolution.
The first or early phase of Indian Nationalism is also termed as Moderate Phase (1885-1905). Moderate leaders were W.C Banerjee, Gopal Krishna Gokhale, R.C Dutt, Ferozeshah Mehta, George Yule, etc.
Moderates have full faith in British Government and adopted the PPP path i.e. Protest, Prayer, and Petition.
Due to disillusionment from Moderates’ methods of work, extremism began to develop within the congress after 1892. The Extremist leaders were Lala Lajpat Rai, Bal Gangadhar Tilak, Bipin Chandra Pal, and Aurobindo Ghosh. Instead of the PPP path, they emphasise on self-reliance, constructive work, and swadeshi.
With the announcement of the Partition of Bengal (1905) by Lord Curzon for administrative convenience, Swadeshi and Boycott resolution was passed in 1905.

ONE INDIVIDUAL MAY DIE; BUT THAT IDEA WILL, AFTER HIS DEATH, INCARNATE ITSELF IN A THOUSAND LIVES.
-Netaji Subhash Chandra Bose

Indian Farming – Protest Against Farmers Act

In the years of 2020 to 2021, there was a battle raging over just how free market India’s economy should become. In September 2020 the Parliament of India had passed three farm acts. India has seen largest farmer protest of the modern history, where, tens of thousands of farmers across the country were demanding, that the government should revoke this series of reforms that will change India’s agricultural sector.

Agriculture and allied sectors by far are the largest employer in India providing employment to more than 50% of the population and accounting for 17.5% of Gross Domestic Product (GDP). India is the world’s largest producer of many fresh fruits, spices, jute, oil seeds and food staples like, rice or wheat. For decades, the government has shielded farmers from the free market by providing price supports on some crops, running wholesale markets where farmers can sell their goods on Minimum Selling Price (MSP), and rounding up buyers to guarantee sales. But when, the government planned to take a step back, with the hopes that the free market will boost an industry that has stagnated over time, farmers fear they’ll get the raw end of the deal, even if the free market helps the overall economy.

History of Agriculture in India

Agriculture has been an integral part of the Indian Economy, both in before and after Independence periods of India. In the Colonial British Era, agriculture was the only means of subsistence, as more than 85% of the Indian population was dependent on agriculture. Majority Indian peasants lived in poor conditions, due to scarcity of agricultural resources, dependency on unpredictable Monsoons for irrigation, Zamindari System and the taxes imposed by British Raj. This period is marked by several farmer protests in different parts of the country.

After independence, India adopted significant policy reforms in the National Five Year Plans, focusing on the goal of food grain self-sufficiency. It began with Several land reforms, adopting superior yielding, disease resistant crop varieties in combination with better farming knowledge and mechanization to improve productivity. A well-planned irrigation infrastructure was developed, that included a network of major and minor canals from rivers, groundwater well-based systems, tanks, and other rainwater harvesting projects for agricultural activities. This ushered in India’s Green Revolution. The states of Punjab and Haryana, led India’s green revolution and earned the distinction of being the country’s breadbasket.

The Farm Acts

Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020
1. expands the scope of trade areas of farmers’ produce from select areas to “any place of production, collection, aggregation”.
1. allows electronic trading and e-commerce of scheduled farmers’ produce.
1. prohibits state governments from levying any market fee, cess, or levy on farmers, traders, and electronic trading platforms for the trade of farmers’ produce conducted in an ‘outside trade area’.
Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020
1. provides a legal framework for farmers to enter into pre-arranged contracts with buyers including mention of pricing.
1. defines a dispute resolution mechanism.
Essential Commodities (Amendment) Act, 2020
1. removes foodstuff such as cereals, pulses, potato, onions, edible oilseeds, and oils, from the list of essential commodities, removing stockholding limits on agricultural items produced by Horticulture techniques except under “extraordinary circumstances”
1. requires that imposition of any stock limit on agricultural produce only occur if there is a steep price rise.

Farmers Protest

Soon after the acts were introduced, unions began holding local protests, mostly in Punjab and Haryana. The methods of protest were Gherao, Dharna, Raasta roko, Demonstration, Suicide. A movement named Dili Chalo began, in which tens of thousands of farming union members marched towards the nation’s capital. The Indian government ordered the police and law enforcement of various states to stop the protesters using water cannons, batons, and tear gas to prevent the farmer unions from entering into Delhi. Various domestic and international NGOs supported the protesters by providing temporary shelters, food and healthcare services. Numerous deaths and fatalities were caused during the protest. All talks between farmers and central government to agree on common grounds remain inconclusive. The Supreme Court of India put a stay on the implementation of the farm laws in January 2021. Farmer leaders cheered and welcomed the stay order

End of the Protests

In late November 2021 the Modi administrators finally repealed the All three farm bills. Hundreds of farmers danced and celebrated the victory, they began removing roadblocks and dismantling thousands of makeshift homes along major highways. The protest was finally declared to be over and the farmers started returning to their homes happily.

The History of Capital Market in India

Indian Capital Markets are one of the oldest in Asia. The earliest records of security dealings in India are ambiguous and roughly dates back to 200 years ago. Initially, in the eighteenth century, East India Company securities were traded in the country. Later in 1861 with the American Civil War began and opening of the Suez Canal, led to a tremendous increase in Exports to the United Kingdom and United States. Several companies were registered under the British Companies Act during this period and many banks came forward to handle the finances relating to these trades. An unincorporated body of a dozen of stockbrokers, which informally traded cotton in the city, under a banyan tree in front of the Town hall in Mumbai formed an association. Afterwards, in 1985 it became an incorporated body, which we know known by the name of Bombay Stock Exchange (BSE). Until the end of the nineteenth century securities trading remained unorganized with the main trading centers in Mumbai and Kolkata. Trading activities flourished during this period, resulting in a boom in share prices. This boom, the first in the history of the Indian capital market lasted for about half a decade. However, there had been much fluctuation in the stock market on account of the American war and the battles in Europe, therefore it was more prominently known as ‘Satta Bazar’, which means a market of speculations.

Pre-Independence Era of Indian Capital Market

British government was not interested in the economic growth of the country. As a result, many foreign companies depended on the London capital market for funds rather than in the Indian capital market. Hence, the Indian capital market was not properly developed before Independence. The growth of the industrial securities market was very much hampered since, there were very few companies and the number of securities traded in the stock exchanges was still smaller. A large part of the capital market consisted of the gilt-edged marker for government and semi-government securities. Business was essentially confined to company owners and brokers, with very little interest displayed by the general public.

Post-Independence Era of Indian Capital Market

In the post-independence period also, the size the capital market remained relatively small. During the first and second five-year plans, the government’s emphasis was on the development of the agricultural sector and public sector undertakings. The public sector undertakings were healthier than the private undertakings in terms of paid-up capital but shares were not listed on the stock exchanges. Moreover, the Controller of Capital Issues (CI) closely supervised and controlled the timing, composition, interest rates pricing allotment and floatation consist of new issues. These strict regulations de-motivated many companies from going public for almost four and a half decades.

However, since 1951, the Indian capital market has been broadening significantly and the volume of saving and investment has shown steady improvements. All types of encouragement and tax relief exist in the country to promote savings. Besides, many steps have been taken to protect the interests of investors, to illustrate, the government enacted the Securities Contracts (regulation) Act and Companies Act in 1956. A very important indicator of the growth of the capital market, is the growth of joint stock companies or corporate enterprises. In 1951 there were about 28,500 companies, both public limited and private limited companies with a paid-up capital of Rs. 775 crores.

In the 1950s, Tata Steel, Bombay Dyeing, National Rayon, Kohinoor mills and Century textiles were the favorite scripts of speculators. Speculation, non-payment or defaults were prominent features of the market.

The 1960s was characterized by the wars and droughts in the country which led bearish trends. Financial institutions such as LIC and GIC helped to revive the sentiment by emerging as the most important group of investors. The first mutual fund of India, the Unit Trust of India (UTI) came into existence in 1964.

In the 1970s Badla trading was resumed under the disguised forms of hand delivery contracts. Badla trading involved buying stocks with borrowed money with the stock exchange acting as an intermediary at an interest rate determined by the demand for the underlying stock and a maturity not greater than 70 days. This revived the market. However, the capital market received another severe setback in 1974, when the government broadcasted the Dividend Restriction ordinance. An Act to provide, in the interests of national economic development, for temporary restrictions on the power of certain companies to declare dividends out of profits and for matters connected therewith or incidental thereto. This led to a slump in market capitalism at the BSE by about 20 per cent overnight and the stock market did not open for nearly a fortnight.

Foreign Exchange Regulation Act (FERA) was promulgated in 1973. This act enforced all non-banking foreign branches and subsidiaries with foreign equity exceeding 40 per cent had to obtain permission to establish new undertakings, to purchase shares in existing companies, or to acquire wholly or partly any other company. Several MNCs opted out of India. One hundred and twenty-three MNCs offered shares worth Rs 150 crore, creating 1.8 million shareholders within four years. The offer prices of FERA shares were lower than their intrinsic worth. Hence, for the first the FERA dilution created an equity cult in India. It was the spate of FERA issues that gave a real fillip to the Indian stock markets. For the first time, many investors got an opportunity to invest in the stocks of such MNCs as Colgate and Hindustan Liver Limited. One mass participation by retail investors came into picture, when in 1980s, entrepreneur, Mr. Dhirubhai Ambani came up with the Reliance IPO, followed by BSE introducing the BSE Sensex, providing a means to measure overall performance of the exchange to the investors.

Internet Protocol

What is an IP address?

An IP address abbreviation of Internet Protocol address, it is an address that is provided by the Internet Service Provider to the user, it is just like a postal address code that is pin code to find the location or place where to send the message. An IP address is a unique group of number what are separated by the period (.), it varies from 0 to 255, and every device has a separate and unique IP address that is assigned by the specific Internet Service Provider (ISP) to identify which particular device is communicating with them and accessing the internet from there.

If you want to access internet from you device which may be your Android, I phone, Computer the service provider assigned them a particular, unique address that is help them to communicate send, receive information from the right person without any misunderstanding, mistake the message is pass to the authentic person to whom it has to send. This problem is solved by the IP address, in olden days; we have postal address to send the message/letter to the person, the message that has to be sent with the help of the address which may be his house number, city, town, postal code. The sender will write the address on the top of the letter envelope so that it will be delivery to the right person. If the person connected his device to internet provide by the hotel, the hotel‘s Internet Service Provider will assign an IP address to the device.

Types of IP addresses

There are different types of IP based on different categories, types.

Consumer IP addresses

A Consumer IP addresses is the individual IP addresses of a customer who connects his/her device to a public or private network. A consumer connects his device through internet from his Internet Service Provider, or from the Wi-Fi. In these days the Consumer has many electronic gadgets which he connects to his router that transfer the data from the Internet Service Provider.

Private IP addresses

A Private IP addresses are a secure one that is connected Private Network and every devices that is connected to this Private Network is assigned a unique IP address that is assigned by the Internet Service Provider. All Mobile devices, Computer, and Internet of Things that are connected to this private network are assigned a unique string number to the devices.

Public IP addresses

A Public IP addresses is the main address that is related to your network, as stated above that the IP address are assigned by the Internet Service Provider, the Public IP address is also assigned by the Internet Service Provider, The Internet Service Provider has a large amount of IP addresses that are stored and assigned to the customer. The public IP address is the address that devices that are outside the network use to identify the network.

The Public IP addresses are further classified into two types they are:

Dynamic
Static

Dynamic IP addresses

The Dynamic IP address are the IP address that changes very frequently, so the Internet Service Providers purchase a very huge amount of IP addresses , they assign it mechanically to the customer . This frequently changing the IP address helps the customer not to make the security actions. The frequently changing IP address won’t let the hacks to track or pool your data.

Static IP addresses

The Static IP addresses is the contradictory to the Dynamic IP address, it remain fixed. The IP address remains fixed when it is assigned by the Internet Service Provider. The mostly many person and business man don’t choose static because it is risk of getting easily track, but most business which are trying host her own website server choose Static IP address so it will easier for the customer to find them.

The IP address can be protect by 2 ways that are using proxy and the other one is use of Virtual Private Network. A proxy server acts as a intermediary between the internet server and your internet service providers, when you visit any website it will show the proxy IP address not yours.

Where to find IP address is Device?

The IP address set up in every device that is connected to the Internet, but the steps or direction is different in different devices. Some of device direction is given below:

In Window or any other Personal Computer

Go to the Start Menu
Type ‘Run’ in the Search bar
A Run Tab pops up
Type ‘cmd’
A black screen pops up
Type ‘ipconfig’
Your IP address is found.

In Android Mobile

Go to the Settings
Tap on Network and Internet
Tap on Wi-Fi, it will show the IP address

International Business in Digital Age of Technology

In this Digital age, the market has became more global than ever it has been, the use of internet has been at peak, than it has never before, the small business that were in the street has started to open a wide market through the use of Internet, the local shop has reached to other parts of the world through the use of internet, websites, social media etc., many big multinational company has been facilitating the tools and facilities for the small business owner to come on the much bigger platform than ever before through the internet. Global integration through this medium that remove the barrier of trade, investment, communication, factor flows, bringing the economics together for the development.

There is a global change in the world, in this pandemic, changes in economies, business, technology, communication, politics and many more. This changes make the require the business to adapt to this changes as quick as possible or else they will get outdated, obsolete and might even wind up the business. There are many uncertainties in the business, so the entrepreneur must adapt to this changes, think about the future of the business. There are many other factors that are forcing the business to make changes, like limited resources, limited market, huge competition, highly skilled labor to change from traditional way to alternative way for getting the business more successful and to get in global market.
Advantages of going international:
It can able to take advantage of market opportunities in abroad countries through internet, trade.
It also defends and grips the position of the business from the competitive position in varying technology, and also from domestic rivalry or government policies.
It also enhances their return from the higher revenue and also lowers their cost of production.
It also reduces it imports and try to increase their exports
It breaks the barriers of places, geographical locations through internet.
It also amplifies their relations with the International Diplomats.
It also takes benefits from the international technology, labor and many opportunities.
To get more access to the global markets and get the resources at low price without compromising its quality.
The Domestic business is a business that buys or sells the goods and services within the national boundaries. It gets its resource within the country boundaries doesn’t have any option to search for the better option and even for the markets, it has limited its boundaries in terms of place, markets, resources unlike International business where goods and services are traded across the boundaries of the country, it can be either the countries or between the multinational companies from the different countries. The Domestic business has some limitation that it operates only within the boundaries, limited to narrow markets, no new customer, no customer visibility and reach, scare resources with high price, not good quality, but whereas International business all this limitations are eradicated with the help of technologies which remove the barrier of place, market, time, and new customer with high quality product with reasonable price, and the owner get the raw material with good quality and with reasonable price. In domestic business, the business get a constant threat of competition, rival companies as they don’t have new markets and large reach for their products, it becomes difficult for the domestic business to survive in the market. Many domestic businesses are going in the way of globalization, market integration with the use of technologies and becoming the international business and removing all the hindrance of the small business problems, competition.

The Delivery That Smitten Everyone-The Flower Delivery

Introduction=

For every special occasion whether formal, informal, official, unofficial people usually find it appropriate to carry flowers with them. And as the culture where it is considered respectable and suitable gained popularity the business that flourished with florists diving into new world of trade and commerce is flower delivery. It is the service provided by many different companies both online and offline for people to order and send flowers to a distinct party to show their love, care and support.

Occasions=

The exchange of flowers usually takes place in occasions, like-

Attending a party (public or personal)
Gifting them on special days
Sharing the happiness for big days (promotion, weddings, etc.)
Wishing good luck
Grieving or presenting condolences
Biding goodbye

History=

Very few are not aware of the fact that sale of flowers has been happening now for centuries and just the method or mode of delivery have changed with no modifications in the imperativeness that flower delivery holds. In the earlier days without the facility of any kind of mail service people took flowers themselves even for long journeys. As the progress started to happen now telegrams were being used for sending flowers on the other side. With courier service then came the dealing of flowers in the same city by phone. And currently online platform has given new heights to trade of flowers.

Modifications=

With advances in technology day after day, it became important for florists to improve their style of work as well. This modification mainly came in the field of supplying the flowers to the customers. With technological enhancement the providing of flowers through online portals became easy and efficient and in demand. It was significantly observed that consumers were now more interested in ordering online for it gave them more choices, better discounts and timely delivery all at the comfort of their homes.

Summing Up=

As there is a constant progress taking place in various fields in the contemporary world a change in pattern of getting flowers for different occasion was also destined. With the phenomenon of self love gaining fans, a new trend of getting flowers for themselves is apparent. Folks in today’s world do not wait for some being to get them flowers rather they go out and buy it for themselves. As new fads come and go the carrying of flowers to most occasions remain unaffected as it is the flower delivery that smitten everyone.

Photo by Jonathan Nenemann on Pexels.com

The Scrupulously Portrayed Erudition of Online Gambling

Prologue=

Gambling is the act of betting money on various platforms with the intention of earning more than the bet. This act is basically judging the chances of winning of a particular team or happening of an event so as to bet on that probability and make money out of it. A lot of people bet for the easy money that gambling brings in for them, while other might do it just for fun, and still others are just addicted to it after a certain period. Online gambling is the on the web, technological and virtual gambling that is fast gaining fans in the contemporary world.

Annals=

The way people betted was not always online, it was face to face in the old times where people betted with real cash to a bookie. With the improvement in the know-how of the internet, the upgrading of the gambling to the virtual space was an obvious result. It is agreed that it was in 1990s that civilians became aware of the detail that internet could be used for betting and not too late in 1996-1997 many online spaces and portals with the intention of promoting virtual betting came in existence, and since then, the fan following of this has been on a rise.

Legality=

Online gambling is a subject under the governance of the state law in India. It is not therefore illegal but there is no such act or provision relating only to it. Therefore, it is many-a-times dealt with Information Technology Act, of 2000. Various states have their own laws regarding gambling-

Nagaland- The Nagaland Prohibition of Gambling, Prohibition and Regulation of Online Games of Skills Act, 2015
Sikkim- Sikkim Online Gambling Regulation Act, 2008
Kerala- Kerala Gaming Act, 1960
West Bengal- West Bengal Gambling and Prize Distribution Act, 1957
Rajasthan- Rajasthan Public Gambling Ordinance, 1949

Winding Up=

In the day and age where it is becoming difficult to earn a living with rising unemployment and continuous price rise, gambling can prove to be a major source of income. Although there are reservations among some sections of the society regarding the act of betting but with expertise and experience in any field it is not knotty to earn a living through online gambling. The illegality leads to hideous betting thereby depriving government of its taxes. Legality is thus, a necessity.

Is India Ready For Cashless Economy?

For India, right now, the victory of cashless economy is as far as the eyes see. India is becoming a large middle income country, too complex, and varied to be controlled centrally. The government will need to withdraw from occupying the commanding heights of the economy, confining itself to providing public goods and the governing framework and, leaving economic activity to the people.

To harness their collective energy, India will need many such reforms in the years o come if it is to grow rapidly in a sustainable and equitable way. These were the words of our former RBI Chief Mr. Raghuram Rajan.

GST and Demonetisation

If our country’s people are still under the influence of the infamous twin-shock of GST and demonetisation, then how can we consider the thought of cashless economy at such a tender stage. This is not just a rhetoric, it is the fuming question with only one answer, NO.

Why is India not ready yet?

Enough of the statements from the philosophical jar, lets talk facts.

India is an economy where 98 per cent of all transactions are in cash. This is due to the large informal sector, which employs 90 per cent of the workforce. The overwhelming majority of them are not hoarders of black money. And yet, India cannot become a cashless society unless its mammoth informal sector transitions to digital payments.

Lack Of Cyber Security

And right now with hackers giving proofs of how one can misuse Aadhar details by stealing a real life example of none other than the TRAI Chief, I am saying that India will be ready for a cashless economy but definitely it is not now.

We need to built homogenous network of digital security to take the baby steps for a walk which has a long road.

“A cashless economy needs robust cyber security capabilities and India isn’t ready” – KPMG INDIA CHIEF, Arun M. Kumar.

Council raises GST on low-cost footwear, garments to 12%

The new rates on these products, a decision on which had been deferred by the Council over the past year owing to the pandemic’s impact on households, will come into effect from January 1, Finance Minister Nirmala Sitharaman said.

The Council approved a special composition scheme for brick kilns with a turnover threshold of ₹20 lakh, from April 1, 2022. Bricks would attract GST at the rate of 6% without input tax credits under the scheme, or 12% with input credits.

While this will please States like Uttar Pradesh that had sought a special scheme for brick kilns, a decision on extending such a scheme for other evasion-prone sectors like pan masala, gutkha and sand mining was put off.

The Council also decided to extend the concessional tax rates granted for COVID-19 medicines like Amphotericin B and Remdesivir till December 31, but similar sops offered by the Council at its last meeting in June for equipment like oxygen concentrators will expire on September 30.

The GST rate on seven more drugs useful for COVID-19 patients has been slashed till December 31 to 5% from 12%, including Itolizumab, Posaconazole and Favipiravir. The GST rate on Keytruda medicine for treatment of cancer has been reduced from 12% to 5%.

Life-saving drugs Zolgensma and Viltepso used in the treatment of spinal muscular atrophy, particularly for children, has been exempted from GST when imported for personal use. These medicines cost about ₹16 crore, Ms. Sitharaman said.

Food delivery tax shift:
The Council also decided to make food delivery apps like Swiggy and Zomato liable to collect and remit the taxes on food orders, as opposed to the current system where restaurants providing the food remit the tax.

Revenue Secretary Tarun Bajaj stressed this did not constitute a new or extra tax, just the tax that was payable by restaurants would now be paid by aggregators. Some restaurants were avoiding paying the GST even though it was billed to customers.

“The decision to make food aggregators pay tax on supplies made by restaurants from January 1, 2022, seems to have been done based on empirical data of under reporting by restaurants, despite having collected tax on supplies of food to customers,” said Mahesh Jaising, Partner, Deloitte India.

“The impact on the end consumer is expected to be neutral where the restaurant is a registered one. For those supplies from unregistered, there could be a 5% GST going forward,” he added.

Aircraft on lease:
The GST Council has exempted Integrated GST levied on import of aircraft on lease basis. This will help the aviation industry avoid double taxation, the Finance Minister said, and will also be granted for aircraft lessors who are located in Special Economic Zones.

Goods supplied at Indo-Bangladesh border haats have also been exempted from GST.

Public Administration: Meaning And Scope

Administration is a part and parcel of our daily lives. The food we eat, the clothes we wear, the goods we buy, the streets and highways on which we travel, the automobiles in which we ride, and the many services we enjoy – education, medical care, housing, facility, entertainment, protection of our lives and property, and many others – are made possible by administration.

Public administration, at least in its embryonic form, was born primarily and principally to regulate group action and behaviour. When a group of people started living together and emerged as a community some common problems made themselves felt which needed collective resolution. One such concern has been the maintenance of peace and prevention of crime. It was in this category of needs that for the first time public administration was born.

Regulation of group action was as inescapable a necessity as was the need for group living. It was only at a much later stage in the course of its evolution that it found itself engaged in carrying out positive functions intended to promote happiness and welfare of the people.

Origin Of Public Administration

Public administration in the beginning was necessarily measly in size, its functions being absolutely minimal. We do not have figures of the government employees in India when the crown took over the East India Company in 1858. What we know is that the Government of India employed nearly 11 lakh just prior to the year 1947, when the country had not become partitioned and divided. The United States of America could perhaps be an apt example.

Public Administration is as old as our ancient civilization. But as an independent discipline Public Administration cannot claim for a long history.

Public Administration as an academic discipline is barely 131 years old but as an aspect of governmental activity, public administration has been co-existing with every political system as the action part of government for the fulfillment of the objectives set by the political decision makers.

Meaning And Definitions

• L.D. White defines Public Administration in the broader terms. He said, “Public Administration consists of all those operations having for their purpose the fulfillment or enforcement of public policy.”

• Luther Gulick, on the other hand, views Public Administration as embracing the executive branch of government only. “Public Administration”, he writes, “is that part of the science of administration which has to do with government and, thus, concerns itself primarily with the executive branch, where the work of government is done though there are obviously administrative problems also in connection with the legislative and judicial branches.”

• John M. Pfiffner defines it as “Public Administration consists of doing the work of government, whether it be running X-Ray machine in a health laboratory or coming money in the mint.”

• Woodrow Wilson, the father of Public Administration defines, “Public Administration is the detailed and systematic application of law. Every particular application of law is an act of administration.”

Significance of Public Administration

Public Administration plays an important role in the modern society. First of all, it is an instrument for providing services. It protects the life and property of people by maintaining law and order. It provides a number of services for people such as public health, education, housing, and social security, among others.

The various services provided by public administration affect the life of every citizen from birth to death.

Public Administration is also responsible for implementing laws and policies of the government. It is an instrument of socioeconomic change and national integration. It is the public administration that translates the decisions of the government into reality.

To sum up, public administration plays an important role in modern society.

It is an instrument to formulate and implement public policies. It maintains law and order. It is an instrument of social change and economic development.

In the era of liberalization and privatization, there is a change in the role and scope of public administration. Now it has to promote and encourage as well as regulate the private sector in order to protect public interest.

In Public Administration, good sense would seem to require that public expectation be kept at the lowest possible level in order to minimize eventual disappointment.
John Kenneth Galbraith

Reference
1. Public Administration In A Globalizing World By Chakrabarty and Kandpal
2. Public Administration By Avasthi and Maheshwari

Council raises GST on low-cost footwear, garments to 12%

In its first physical meeting in two years, the GST Council on Friday effected several long-pending tweaks in tax rates including an increase in the GST levied on footwear costing less than ₹1,000 as well as readymade garments and fabrics to 12% from 5%.

The new rates on these products, a decision on which had been deferred by the Council over the past year owing to the pandemic’s impact on households, will come into effect from January 1, Finance Minister Nirmala Sitharaman said.

The Council approved a special composition scheme for brick kilns with a turnover threshold of ₹20 lakh, from April 1, 2022. Bricks would attract GST at the rate of 6% without input tax credits under the scheme, or 12% with input credits.

The Council also decided to extend the concessional tax rates granted for COVID-19 medicines like Amphotericin B and Remdesivir till December 31, but similar sops offered by the Council at its last meeting in June for equipment like oxygen concentrators will expire on September 30.

The GST rate on seven more drugs useful for COVID-19 patients has been slashed till December 31 to 5% from 12%, including Itolizumab, Posaconazole and Favipiravir. The GST rate on Keytruda medicine for treatment of cancer has been reduced from 12% to 5%.

Life-saving drugs Zolgensma and Viltepso used in the treatment of spinal muscular atrophy, particularly for children, has been exempted from GST when imported for personal use. These medicines cost about ₹16 crore, Ms. Sitharaman said.

Food delivery tax shift
The Council also decided to make food delivery apps like Swiggy and Zomato liable to collect and remit the taxes on food orders, as opposed to the current system where restaurants providing the food remit the tax.

Revenue Secretary Tarun Bajaj stressed this did not constitute a new or extra tax, just the tax that was payable by restaurants would now be paid by aggregators. Some restaurants were avoiding paying the GST even though it was billed to customers.

“The decision to make food aggregators pay tax on supplies made by restaurants from January 1, 2022, seems to have been done based on empirical data of under reporting by restaurants, despite having collected tax on supplies of food to customers,” said Mahesh Jaising, Partner, Deloitte India.

“The impact on the end consumer is expected to be neutral where the restaurant is a registered one. For those supplies from unregistered, there could be a 5% GST going forward,” he added.

Aircraft on lease
The GST Council has exempted Integrated GST levied on import of aircraft on lease basis. This will help the aviation industry avoid double taxation, the Finance Minister said, and will also be granted for aircraft lessors who are located in Special Economic Zones.

Goods supplied at Indo-Bangladesh border haats have also been exempted from GST.

Written by: Ananya Kaushal

Impact of Covid-19 on the Corporate Sector in India

The impact of coronavirus pandemic on India has been largely disruptive in terms of economic activity as well as a loss of human lives. Almost all the sectors have been adversely affected as domestic demand and exports sharply plummeted with some notable exceptions where high growth was observed. An attempt is made to analyze the impact and possible solutions for some key sectors.

Food & Agriculture

Since agriculture is the backbone of the country and a part of the government announced essential category, the impact is likely to be low on both primary agricultural production and usage of agro-inputs. Several state governments have already allowed free movement of fruits, vegetables, milk etc. Online food grocery platforms are heavily impacted due to unclear restrictions on movements and stoppage of logistics vehicles. RBI and Finance Minister announced measures will help the industry and the employees in the short term. Insulating the rural food production areas in the coming weeks will hold a great answer to the macro impact of COVID-19 on Indian food sector as well as larger economy.

Aviation & Tourism

The contribution of the Aviation Sector and Tourism to our GDP stands at about 2.4% and 9.2% respectively. The Tourism sector served approximately 43 million people in FY 18-19. Aviation and Tourism were the first industries that were hit significantly by the pandemic. The common consensus seems to be that COVID will hit these industries harder than 9/11 and the Financial Crisis of 2008. These two industries have been dealing with severe cash flow issues since the start of the pandemic and are staring at a potential 38 million lay-offs, which translates to 70 per cent of the total workforce. The impact is going to fall on both, White and Blue collar jobs. According to IATO estimates, these industries may incur losses of about 85 billion Rupees due to travel restrictions. The Pandemic has also brought about a wave of innovation in the fields of contactless boarding and travel technologies.

Telecom

There has been a significant amount of changes in the telecom sector of India even before the Covid-19 due to brief price wars between the service providers. Most essential services and sectors have continued to run during the pandemic thanks to the implementation of the ‘work from home’ due to restrictions. With over 1 billion connections as of 2019, the telecom sector contributes about 6.5 per cent of GDP and employs almost 4 million people. Increased broadband usage had a direct impact and resulted in pressure on the network. Demand has been increased by about 10%. However, the Telco’s are bracing for a sharp drop in adding new subscribers. As a policy recommendation, the government can aid the sector by relaxing the regulatory compliances and provide moratorium for spectrum dues, which can be used for network expansions by the companies.

Pharmaceuticals

The pharmaceutical industry has been on the rise since the start of the Covid-19 pandemic, especially in India, the largest producer of generic drugs globally. With a market size of $55 billion during the beginning of 2020, it has been surging in India, exporting Hydroxychloroquine to the world, esp. to the US, UK, Canada, and the Middle-East.

There has been a recent rise in the prices of raw materials imported from China due to the pandemic. Generic drugs are the most impacted due to heavy reliance on imports, disrupted supply-chain, and labour unavailability in the industry, caused by social distancing. Simultaneously, the pharmaceutical industry is struggling because of the government-imposed bans on the export of critical drugs, equipment, and PPE kits to ensure sufficient quantities for the country. The increasing demand for these drugs, coupled with hindered accessibility is making things harder. Easing the financial stress on the pharmaceutical companies, tax-relaxations, and addressing the labour force shortage could be the differentiating factors in such a desperate time.

Oil and Gas

The Indian Oil & Gas industry is quite significant in the global context – it is the third-largest energy consumer only behind USA and Chine and contributes to 5.2% of the global oil demand. The complete lockdown across the country slowed down the demand of transport fuels (accounting for 2/3rd demand in oil & gas sector) as auto & industrial manufacturing declined and goods & passenger movement (both bulk & personal) fell. Though the crude prices dipped in this period, the government increased the excise and special excise duty to make up for the revenue loss, additionally, road cess was raised too. As a policy recommendation, the government may think of passing on the benefits of decreased crude prices to end consumers at retail outlets to stimulate demand.

Beyond Covid: The new normal

In view of the scale of disruption caused by the pandemic, it is evident that the current downturn is fundamentally different from recessions. The sudden shrinkage in demand & increased unemployment is going to alter the business landscape. Adopting new principles like ‘shift towards localization, cash conservation, supply chain resilience and innovation’ will help businesses in treading a new path in this uncertain environment.

Coronavirus (COVID-19), a virus that grew stealthily has become one of the deadliest viruses that are killing people worldwide. This virus took birth in Wuhan city of China and since then have traveled to more than 160 countries. The World Health Organization (WHO) has declared Coronavirus as a pandemic. It has become a mass scare and is leading to the deaths of thousands of people in numerous countries including China, Italy, Iran, Spain, the US, and many more. In India, this pandemic started on 30 January 2020 by affecting an individual who had a travel history from Wuhan, China.

The world economy is seeing its greatest fall ever. Coronavirus has largely impacted the growth of almost every country and is responsible for the slump in GDP worldwide. Like other countries, India is also impacted by this virus but not largely. Almost every industry sector has seen a fall in their sales and revenue. India’s GDP growth has fallen to 4.7% in the third quarter of 2020.

Inflation and Affected Industry:

China is one of the largest exporters of many raw materials to India. Shutting down of factories has damaged the supply chain resulting in a drastic surge in the prices of raw materials. Some of the other products that have seen a rise in their prices are gold, masks, sanitizers, smartphones, medicines, consumer durables, etc. The aviation sector and automobile companies are the hardest hit among the rest. With no airplane landings or take-offs globally and restricted travel has brought the aviation and travel industry to a halt.

Slump in Share market:
Share markets that include Sensex and Nifty are on nose dive since the occurrence of this pandemic (COVID-19). Sensex has declined close to 8000 points in a month. As of 12 March 2020, share market investors have lost approximately Rs. 33 lakh crore rupees in a month. This could be the beginning of a recession that the Indian market will never want to witness. Investors are advised to stay safe and invested in this virus-infected stock market. Few industries that can benefit from novel coronavirus during the time of the market crash are pharmaceuticals, healthcare, and Fast Moving Consumer Goods (FMCG).

Cash flow Issue:
Due to this outbreak, almost 80% of Indian companies have witnessed cash flow difficulty and over 50% of companies are facing operations issues. As per the Federation of Indian Chambers of Commerce and Industry (FICCI), 53% of companies are impacted by COVID-19. Slow economic activity is resulting in cash flow problems eventually impacting repayments, interest, taxes, etc.

Coronavirus (COVID-19), a virus that grew stealthily has become one of the deadliest viruses that are killing people worldwide. This virus took birth in Wuhan city of China and since then have traveled to more than 160 countries. The World Health Organization (WHO) has declared Coronavirus as a pandemic. It has become a mass scare and is leading to the deaths of thousands of people in numerous countries including China, Italy, Iran, Spain, the US, and many more. In India, this pandemic started on 30 January 2020 by affecting an individual who had a travel history from Wuhan, China.

The world economy is seeing its greatest fall ever. Coronavirus has largely impacted the growth of almost every country and is responsible for the slump in GDP worldwide. Like other countries, India is also impacted by this virus but not largely. Almost every industry sector has seen a fall in their sales and revenue. India’s GDP growth has fallen to 4.7% in the third quarter of 2020.

Efforts from CII and Govt. of India:
Confederation of Indian Industry (CII) has suggested the RBI reduce repo rate up to 50 basis points and also asked for a reduction of 50 basis points on the cash reserve ratio. The government is planning to set up an amount to support MSMEs to overcome the crisis during this phase of shut down, cash flow difficulty, and working capital issues.

Written by: Ananya Kaushal

Cryptocurrency simplified

In the simplest of terms cryptocurrency is a digital currency used to make transactions. It is currently not being used to make transactions but can be potentially used to do so. Before jumping to cryptocurrency let’s clear our basics.

Understanding currency

Think of cryptocurrency as any other currency, we use currency to fulfil our needs and we exchange currency because we are aware that we will be provided with goods and services in return. Now, this currency is not limited to just notes or coins but can be anything. Like in olden times barter system existed where people would exchange goods and services for other goods and services in return but this concept had a lot of limitations so currency started evolving. We moved to commodity money i.e., gold, silver then to metal money then paper money then plastic money(cards) and now we are moving towards crypto. These currencies evolved because the previous methods of transaction had their own drawbacks.

Like any other method, the method of transaction that the world operates on now also has drawbacks like centralisation, elasticity, the ease with which it can be issued to name a few.

Need for Crypto

Now, this is where cryptocurrency comes into play. It is a virtual form of currency that uses blockchain technology. Blockchain technology is a virtual decentralised ledger that keeps a record of transactions. Cryptocurrency is secured by cryptography which is a secure communication technique.

Now, keep in mind that it does not physically exist, one can’t hold up a bitcoin because it is based on a network distributed across computers. So you don’t have to carry it around, kind of like net banking or online transactions but online transactions are made through banks and can be monitored by any authority. Now, imagine you want to transfer your friends 5 bitcoins. You can do it without a bank or an intermediary interfering. It can be done anonymously with your privacy being protected. And since no authority controls it, that currency cannot be altered either.

With paper currency, the government can print as much money as they want because they control it and printing a lot of money causes inflation but that is not the case with cryptocurrency because only a limited number exists.

For example, only 21 million bitcoins exist on the web. Bitcoin is a form of cryptocurrency created allegedly by a Japanese fellow Satoshi Nakamoto. Now , this could be a pseudonym or perhaps more than one person was involved in the development of said currency. However, for the most part that person’s identity still remains anonymous.

Now, this number of 21 million cannot be changed, it is constant. There will always exist 21 million bitcoins and can be found out through miing. This is done by solving puzzles. The more puzzles you solve, the more bitcoin you get. As more and more bitcoins are mined, the puzzles get tougher. These bitcoins are not easy to find and it is definitely not easy to solve the puzzles. Perhaps, that is why Bitcoin is so valuable.

It is possible that somewhere in the not so far future we would not be using paper currency but crypto. For now, cryptocurrency is highly volatile and is used only for investing money.

Do we have to sacrifice good economy for healthy environment?

Be the change you wish to see in the world. Take a pledge to protect Mother Earth this World Environment day

Past decade has handed over much benefit to human kind and the one to suffer is environment exposing environmental degradation that costs…….. per year worldwide.

“While the overall policy focus should be on meeting basic needs and expanding opportunities for growth, they should not be on the expense of unsustainable environmental degradation.”-muthukmara mani(senior environmental economist).

Using natural resources as fuel to the economic development many have curbed themselves over the poverty, it providing employability and many new opportunities to individuals. With excess greed and overuse of all these resources there has been excruciating effects on environment overall degrading forests, scarring natural resources these are overall affecting the economy in return.

Tony Abbott said his govt. won't "put the environment ahead of the economy". RT if you think he's got his it wrong.

Poverty remains cause of either of both consequence and cause of environmental degradation. Needless mining and overuse of resources that are on first hand limited to us which is quiet evident over degrading agriculture yields per hectare as livestock is overgrazed grassland and forest deplete for human settlements.

The question that arises is our economic benefit so crucial that it costs us worsened environmental quality, depleted resources, extinct habitats and other impacts?

Something that emerges out is environmental stability, low emission resource efficient greening of the economy should be possible at costs of terms less to that of GDP of each country, valuing the available natural resources and taking policy decision accordingly.

To avail this issue the natural environmental growth be necessary, affordable, desirable, and measurable.

If not now it’s going to be a challenge to turn the pages around to covert the damages done to nature with hefty economical costs in future and also proving deadly not only to the flora-fauna but eventually to humans too, hence it’s necessary to avail it at the very moment.
Policies such as environmental taxes can positively help minimize the cost and pressure over governments hence making it affordable to all.
With so many diversifies ecologies and habitat all over the globe the policies and laws needs to be designed such that it preserves and nourishes these natural gems.

We think cutting edge technology is essential in delivering environmental and economic gains.

What can be done?

Particulate emission reduction can effectively help decrease GDP modestly even reducing 10%.

Making more tractable efficient commitments and following them religiously, look through the environments vision and then make other end decision regarding the communities, societies, business and governments. Science can be at its most use when it’s accessible to every person who wishes to use it. Every person taking this as a personal responsibility the awareness would make it up to history pages. We need to turn around the current situation and consider it as a need of an hour if we wish out economy our trades our families to thrive in peace without draining our economies.

MANAGEMENT CHARACTERISTICS

1) IT IS A CONTINUOUS PROCESS

It is a never ending process. Continuity is an important part of management. It is necessary throughout the life of organization. Management is essential to begin the activity, to run it smoothly and to control the activity.

2) MANAGEMENT IS GOAL ORIENTED

Every business organisation has their own set of goals which is decided prior to the execution of the goal. When the management achieves the goal it is called success. Success depends on proper management skills and a manager takes a lot of efforts to achieve this goals. So management is a goal oriented activity.

3) MANAGEMENT IS DYNAMIC

Management is dynamic and not static in character. It deals with human efforts different situations and activities. It embrace changes in form of technological change, socio-economical change, political changes and many more.

4) MANAGEMENT IS UNIVERSAL

Management is universal in character. The principles and theories of management are equally applicable to everywhere and in every field like defence, business, education, etc. These principles are guidelines which are flexible and capable of adaptation to every type of organization.

BEST COLLEGES IN MUMBAI

A college assists a student in building their career. Colleges are necessary for converting the thoughts into action. The institution acts as a bridge for their career pathways. In college we are taught how to make into the society and working industry and progress in life, the institution boost our overall development. A college provide with many activities, fest, placement, etc so that an individual growth is secured. It’s on us to work hard and achieve our dream; here are few of the best colleges in Mumbai.

1) IIT BOMBAY – INDIAN INSTITUTE OF TECHNOLOGY

It is a public technical and research university, located in Powai. It was established in 1958, the Chairman is Dr Pawan Goenka and the Director is Subhasis Chaudhari. The institute has physically expanded to include more than 584 major building. The institute grant’s admission through JEE and Advance. It offers many courses such as bachelor of technology, bachelor of science. It offer courses for post graduate, doctoral and postdoctoral level. The centre has five primary research areas. It offers a great campus area and an awesome student life.

2) ST. XAVIER’S COLLEGE

It is a private Catholic autonomous higher education institution run by The Society of Jesus in Mumbai, located in the Fort area of South Bombay. It was established in 1869, the Chairman is Fr. Arun de Souza, SJ and the Principal is Dr. Rajendra Shinde. The college was greatly expanded in 1930s and is built in Indo-Gothic style. The college is equipped with modern amenities and has a large common library. It also has a leisure space area known as ‘The Woods’. The college is affiliated with the University of Mumbai, offering undergraduate and postgraduate courses in Arts, Science, Commerce and Management. One can opt for this college for a better career development.

3) MITHIBAI COLLEGE OF ARTS, CHAUHAN INSTITUTE OF SCIENCE AND AMRUTHBEN JIVANLAL COLLEGE OF COMMERCE AND ECONOMICS

Mithibai college is affiliated by the University of Mumbai and was granted the status of autonomous in 2018. The college was established in 1961 by Shri Vile Parle Kelavani Mandal as a part of the trust’s Silver Jubilee Celebration, located in Vile Parle. The principal was Dr. Rajpal Hande. It has 50% reservation for gujrati speaking community. It has been consistently featured on the top 5 ranks in India Today College rankings. It offers an undergraduate and postgraduate courses in commerce. Other courses include bachelor of management studies, bachelor of science and master of science courses in biochemistry, biotechnology and computer science.

4) JAI HIND COLLEGE

Jai Hind College is an autonomous college affiliated by the University of Mumbai, located in Churchgate Mumbai. It was established in 1948, the Principal of the college is Ashok Wadia. The college offers both junior college and regular degree college. The college provides bachelor degree in science, commerce and arts and also offers MSc in Big Data Analytic. It offers great students life and hosts big college fests every year. Once can consider this college if they have to enjoy their college life along with their studies.

SWATCH BHARAT SWASTH BHARAT

SWATCH BHARAT SWASTH BHARAT
Whether the Sun shines or it Rains; Cleaning the India should be our aim.
Pledge for cleanliness to show your keenness to clean India. India will teach us the tolerance and gentleness of mature mind, understanding spirit and a unifying, pacifying love for all human beings.” – Will Durant
India is in dire need of a cleanliness drive like Swachh Bharat Abhiyan to eradicate dirtiness. It is important for the overall development of citizens in terms of health and well-being. This a scheme to help us amd to make India healthy and clean and to make India swatch and swasth.

Swachh Bharat Abhiyan is one of the most significant and popular missions to have taken place in India. Swachh Bharat Abhiyan translates to Clean India Mission. This drive was formulated to cover all the cities and towns of India to make them clean. This campaign was administered by the Indian government and was introduced by the Prime Minister, Narendra Modi. It was launched on 2nd October in order to honor Mahatma Gandhi’s vision of a Clean India. The cleanliness campaign of Swachh Bharat Abhiyan was run on a national level and encompassed all the towns, rural and urban. It served as a great initiative in making people aware of the importance of cleanliness. This helped in making the message reach wider. It aims to build sanitary facilities for all households. One of the most common problems in rural areas is that of open defecation. Swachh Bharat Abhiyan aims to eliminate that. Generally, in these areas, people do not have proper toilet facilities. They go out in the fields or roads to excrete. This practice creates a lot of hygiene problems for citizens. Therefore, this Clean India mission can be of great help in enhancing the living conditions of these people. When we will dispose of waste properly and recycle waste, it will develop the country. As its main focus is one rural area, the quality of life of the rural citizens will be enhanced through it. Similarly, they also wanted to make people aware of health and education through awareness programs. After that, a major objective was to teach citizens to dispose of waste mindfully. Most importantly, it enhances the public health through its objectives. This helped in making the message reach wider. It aims to build sanitary facilities for all households.
Every small step towards sanitation will bring a big change for the nation.
Heaven could be on earth, Cleanness is something which has priceless worth.

The main objective of Swachh Bharat Abhiyan is to aware the citizens of the country of their utmost priority and responsibility towards cleanliness in the nearby surroundings and the spread of filth and infectious parasites. The campaign primarily focuses on eradicating the unhealthy practices of open defecation and provide basic sanitation facilities by constructing toilets, solid-liquid waste disposal systems, supplying clean drinking water, etc.

“Let’s make this our plea; we will make India open defecation free.
Cleanness can provide us inner peace, clean India mission is something that we need.
For cleanness we still have hope, because Swachh Bharat Abhiyan has a big scope.”

Swatch Bharat Abhiyan is a great accomplishment and proved out to a one of a kind project in the history of India. We must carry forward the practices of cleanliness with the same enthusiasm and zeal and help each other by keeping our Mother India clean and beautiful.
There are lots of schemes made for us by our government. These Abhiyan tries to make our beautiful India more beautiful and to make us healthier.
We can make our country beautiful; by participating in Swachh Bharat mission we can achieve something fruitful.
Let’s work on cleanliness from our side, and make India feel pride and clean your houses, roads and street, Cleanliness is our basic need. Make India great again, participate in Swachh Bharat mission to bring new reign.
Due to waste lying in the streets cause dangerous diseases which hampers our health and may cause dangerous diseases. These Abhiyan is a kind initiative to help us and to free us from these dangerous diseases. These are some examples how these Abhiyan help us and gift us a healthy life.
Clean India mission is something which we need for progress of our country.

Contaminated water causes many water-borne infections like diarrhoea, and also serves as a carrier for vectors such as mosquitoes spreading epidemics. Open defecation means no sanitation. It fouls the environment, and spreads diseases. According to WHO-UNICEF report (2010), India has the highest rate of open defecation. Access to safe drinking water and good sanitation are vital for family well-being. It results in control of enteric diseases, and boosts child health. A healthy child has better learning and retaining ability. Girls avoid going to school where there are no proper sanitation measures. Sanitation makes a positive contribution in family literacy. One key goal of sanitation is to safely reduce human exposure to pathogens. Pathogens are excreted by infected individuals and if not properly contained or treated, may present a risk to humans who come in contact with them. These individuals can also be exposed to pathogens through drinking water or eating food contaminated with pathogens found in human excreta. According to a UNICEF study, for every 10 per cent increase in female literacy, a country’s economy can grow by 0.3 per cent. Thus, sanitation contributes to social and economic development of the society.
Improved sanitation also helps the environment. Clean drinking water and good sanitation would not prevent infections without practicing good hygiene. A simple habit of washing hands goes a long way towards preventing diseases. The stored water supply may also serve as a source of infection in the absence of hygiene. Sanitation envisages promotion of health of the community by providing clean environment and breaking the cycle of disease. Sanitation systems aim to protect human health by providing a clean environment that will stop the transmission of disease, especially through the fecal–oral route. For example, diarrhea, a main cause of malnutrition and stunted growth in children, can be reduced through adequate sanitation.

If we follow the sanitation system then we can create a healthy world . If we live healthy then we can be wealthy. Swatch bharat is swasth bharat is a true word. If the world become clean then everyone become healthy.
If we want to make India a developed nation then clean India mission is the necessity.
Let’s take oath; by participating in clean India mission we will make our country proud.
Clean India mission is something which we need for progress of our country.
Working towards sanitation will bring a significant positive change for the nation.

Tips for Share Market

The potential of large gains from share markets can entice you as an investor. To a novice, the stock market may appear to be a place where you may obtain quick returns on your investments or make millions in a flash. On the other hand, the reality is rather different. It’s difficult to make money in the stock market. You’ll need patience and a long-term investment horizon, as well as a deep understanding of the market. You should only employ share market advice from a professional financial advisor, and your investing ideas should correspond with your financial objectives and risk tolerance.

Different investors have different investment objectives when they enter the stock market. Some investors seek rapid and huge profits, while others seek long-term investments and a well-balanced portfolio. However, to prevent volatility, every investor should follow a few share market guidelines during their trading journey.

Best tips for Share Market

1. Prior to investing, set goals

Goal-based investing can assist you in accomplishing your financial objectives. Determine your financial needs and develop short- and long-term goals to meet them. This will assist you in determining the length of your investment, the amount you want to invest, and the best investment channel for your needs. Let’s say you have a short investing horizon. Then you might try to profit on short-term stock price swings. If you have a longer timeline, on the other hand, you may invest in blue-chip stocks, which are renowned to provide strong long-term returns.

2. Recognize Your Risk Tolerance

Given the volatility of the stock market, it’s a good idea to figure out your risk tolerance before investing. Risk tolerance is an important part of the investment process, and it varies from investor to investor. It primarily refers to the ability to withstand market fluctuations and their impact on the investment’s value. An investor’s low-risk tolerance is determined by his or her hunger for loss or ability to cope with worry in a highly volatile market. Low-risk investors are more likely to sell their stocks in a panic at the wrong time.

3. Choosing a Stock Broker

One of the most important decisions you’ll have to make early in your trading career is which stockbroker to use. In India, there are a plethora of stock brokers to choose from, making it tough for newcomers to make an informed decision. Consider factors such as the broker’s reputation, trading portal or software, and brokerage while making a decision. Keep an eye on the brokerage because you’ll have to pay it whether you make a profit or a loss on a deal. Brokerage fees can be levied as a flat fee or as a percentage of the trade value. This is especially significant for stock traders because the brokerage fees for repeated trades can soon add up.

4. Learn the fundamentals of the stock market

Learn the fundamentals of the stock market before investing your hard-earned money. Learn how the stock market works, what drives it, how stock prices are influenced, trading and investing tactics, and more. To make informed investments, you’ll also need to get familiar with a variety of technical terms. Those who invest without first learning the basics risk losing their money. Learn about the market before you begin your stock market trip if you desire strong and regular results.

5. Choose companies that are fundamentally sound

Consider investing in companies that have solid fundamentals. These businesses not only deliver better long-term returns to investors but also provide more liquidity. Companies with good fundamentals can also withstand share market volatility and changes. As a result, they are a generally safe investment option. Large-cap mutual funds are another option for mutual fund investors.

Conclusion

The potential of big profits tempts many to invest in the stock market. Keep in mind that markets are volatile, and stock prices can swing dramatically. Experienced investors, on the other hand, do not let these dangers affect their decision-making. Instead, they concentrate on research and analysis to determine whether or not to invest, where to invest, and whether or not to buy, hold, or sell a stock. If you’re just getting started, the above share trading advice can help you get started. Use them to create a successful stock market investment strategy that yields consistent profits.

5 Main Problems faced by Small Scale Industries

Just because of their nature and size, small-scale industries do not have many of the advantages that large-scale firms do. They have contributed significantly to economic development, but they have not reached their full potential. They have a lot of issues with how they operate, and a lot of small businesses are sick.

Certain commodities were set aside by the government for exclusive production by Small Scale Industries. Large-scale businesses were not permitted to create commodities reserved for the SSI sector. Many things have been successively De-reserved as the economy has opened up and followed the principles of liberalization and globalization. As a result, small-scale industries must now contend with the dual pressures of rivalry from both Indian large-scale firms and overseas competitors.

In this blog, we are going to learn about the problems faced by Small Scale Industries.

Problems of Small Scale Industries

1. Funding Shortage

When it comes to fundraising, small businesses confront numerous challenges. It is one of the most serious issues. Many of these businesses are unable to raise cash from the capital market due to a lack of creditworthiness. Banks are also wary of lending money to these businesses because many of them lack proper collateral security or guarantees.

A lack of cash can cause a small firm to fail before it even gets off the ground. Following nationalization, several banks make loans to these types of businesses. The situation is still deteriorating due to the sudden outbreak of covid-19, which resulted in a lockdown and a drop in the economy. Entrepreneurs are obliged to seek funds from money lenders at unreasonably high-interest rates, which throws their business calculations into disarray.

2. Idle Capacity

In the case of small-scale industries, installed capacity is underutilized to the tune of 40 to 50 percent. Various factors contribute to this underutilization, including a lack of raw materials, a lack of cash, and even a lack of power. Small scale units, unlike their large-scale counterparts, are not completely able to deal with all of these issues.

3. Management abilities

A tiny business is started and run by a single person. As a result, that person may lack all of the managerial skills required to run a business. They cannot afford to hire competent managers or staff due to a lack of finances. This can cause minor disruptions in the business’s operations. Delays, errors, poor decision-making, and other factors can all contribute to the company’s demise. This could also be considered unprofessional behavior on the part of the client, which is bad for the company’s market reputation. All of these requirements are easily met in major corporations thanks to various specialized teams.

4. Sickness

It’s heartbreaking to see the majority of the small units succumb to illness. There is a lack of forethought. Another stumbling block is the lack of qualified and trained employees. They have no choice but to sell on credit. Their clients fail to pay them on schedule. There are a lot of terrible debts. As a result, they are unable to maintain the production process due to a lack of operating capital. This results in illness.

5. Unpredictable raw material supply

Small businesses have a difficult time obtaining raw materials, whether they use locally available or imported raw resources. The issues develop as a result of defective and irregular raw material delivery. Other obstacles for the small-scale sector include a lack of sufficient quantities of raw materials, occasionally poor quality of raw materials, rising raw material costs, foreign exchange crisis, and, most importantly, entrepreneurs’ lack of awareness of government policies.

Conclusion

Small-scale entrepreneurs face a slew of issues, including excessive reliance on institutional agencies for finances and consulting services, a lack of creditworthiness, a lack of education and training, reduced profitability, and a slew of marketing and other issues. The Indian government has launched a number of initiatives targeted at enhancing the overall performance of these institutions.

BENEFITS AND LIMITATIONS: Mobile Banking

Advantages

On these days we do our daily stuff with the help of our mobile phones, that also includes banking. Mobile banking is a free, convenient way to keep up with your finances.

Some of the advantages of using mobile banking are the following:

AVAILABILITY

There are no working hours or operations or particular requirements for mobile banking, customers can check their account, move money, pay bills and various other banking processes with the help of mobile banking. It is available 24*7 for the customers.

PAPERLESS

No one enjoys getting bank statements in the mail. With the help of mobile banking, there is no need for the customer to receive junk mail from the bank. It’s also safer because you are no longer having to get away from sensitive information into the trash.

CONTROL

Mobile banking makes it so easy to have complete control over your finances. You can monitor your balances and move money between accounts to avoid overdraft fees. With bill pay you can alert when it’s time to pay to avoid late fees, or set up recurring bill payments and not have to think about it.

SAFE

Mobile banking is safer and secure. All reputable banks and financial institutions use encryption to safeguard and protect your privacy and identity information on mobile apps.

TIME SAVING

It is time saving because we don’t want to visit the particular bank to do our banking process. We can do it with the help of mobile banking.

HELPS YOU TO TRACK YOUR FINANCES

Managing an account through your mobile also puts you in charge of your money and helps you better to know your financial standing. You can always monitor your account balance and transfer money from a different account if needed be. You can check your balance and statement at any time.

MINIMIZE ERRORS

A comprehensive mobile banking will reduce errors that users make. There hasn’t been a better time to get familiar with mobile banking as indeed, this is the only way forward.

DISADVANTAGES

OPERATING EXPENSES

It tends to be high in traditional banking, since in addition to having administrative offices, they also have offices to serve their clients in person. Among its main operating expenses are:

Paying rents from the premises where they operate
Payment of public services and security
Expenses in stationary and issuance of the plastics (for making debit and credit cards)

MOVE TO OFFICES AT CERTAIN TIMES

In case of making a transfer or other type of management, in many cases physical presence must be made in the bank’s office and within the business hours established by the bank, which is considered as a great disadvantage.

SLOW PROCESSES

Another disadvantage is the slowest process held in the organization. Another demonstration of the slow process time that transactions between different banks usually take.

HIGH COMMISSIONS

In general, traditional banking commissions are high due to higher operating expenses, which makes many of their products or services more expensive compared to other products or fintech companies.

LOW STIMULUS TO SAVINGS

Due to lower interest rates that traditional banks usually pay their savings to the clients if there is a low saving stimulus. This is because traditional banking promotes more bank loans and they are the ones that generate more interest and collection fees, which allows them to create more fiat money and have more profits.

LIMITATION IN ONLINE BANKING

Although traditional banking is using some functions of online banking, the latter is still limited. For example, in many cases this service is conditioned to the use of some of its product. There is also the problem of limits on amount to be transferred in addition to difficulties or restriction in transferring money to other countrie

CONCLUSION

As smartphones become more commonly used, and their capabilities expand, they may increasingly be the means consumers use to access financial services and manage their finances. Their constant presence also makes them a potentially useful tool for the delivery of just in time financial information or as in decision making.

Given the prevalence of mobile phones, particularly smartphones among minorities, low-income individuals, and younger generations, mobile technology has the potential to empower consumers and expand access to financial services for underserved populations.

The use of mobile banking has increased by more than a third in the past year, and it appears likely to continue to increase as more and more consumers use smartphones. While still small, the use of mobile phones to make payments at the point of sale has increased even more rapidly. Over a quarter of mobile phone users express some interest in using their phones to make payments at the point of sale, giving mobile payments substantial growth potential as the ability to make these payments becomes more widespread.

The two factors limiting consumer adoption of mobile banking and payments are concerns about the security of the technology and a sense that they don’t offer any real benefits to the user over existing methods for banking or making payments. With regards to security, consumers have actually become more likely in the past year to report that they simply don’t know how safe it is to use mobile banking, suggesting that consumers need to be provided with reliable and accurate information on the level of security associated with the various means of accessing mobile banking. In terms of the value proposition to consumers, the significant number of mobile users who reported an interest in using their phones to receive discounts, coupons, and promotions or to track rewards and loyalty points suggests that tying these services to a mobile payment service would increase the attractiveness of mobile phones as a means of payment.

Challenges Faced : Mobile Banking

Challenges Faced

Customer awareness: because of lack of data and awareness regarding mobile banking is a reason for less trust in mobile banking services and it’s conjointly one more reason for risk and security issue in mobile banking which is a result of this can be new technology in banking and financial set-up therefore all banking client aren’t aware of it and feel risk to adopt it therefore it’s conjointly a big challenge before of mobile banking services in India.

Security problems & privacy: there’s security of mobile banking services is massive issue and challenges. In mobile banking for the safety purpose PIN or countersign is employed which can be steal by the offender or unauthorized user if mobile device has loss or steal therefore user got to aware about it. Customers are use sensitive information and data in mobile therefore here risk with pass of a legitimate application as a result of application service are provided by third party it’s going to steal our info and send it to a different third party therefore we’ve to aware of applications used for WAP mobile banking services and transfer a legitimate and authorize application for group action with mobile banking services.

Virus & malware attack: there’s conjointly risk with virus and malware attack it’s going to access your account info equivalent to username, countersign and alternative info like in computing system there’s conjointly risk on virus and malware attacks on mobile banking services some codes are written to default mobile banking like Zeus has used for attacks on SMS banking and Zeus used for steal mobile group action authentication equivalent to password and pin number. therefore it’s a conjointly massive security issue and challenge in mobile banking services.

Wireless network: All method of mobile banking service is finished in wireless mode therefore there’s conjointly a security risk in mobile banking services mobile device element contact with cell website and dedicated circuit and microwave for the communication services therefore if there’s any weakness in any a part of this network then risk of attacks is will increase therefore we’ve to secure of these network and network devices for an honest security services.

Risk in SMS mobile banking: Format of SMS is in plain text. presently end to finish secret writing isn’t available. The sole encryption is out there in the base station at transceiver and at the SMS server during transmission time. Because of this there’s a risk in SMS banking equivalent to SMS spoofing attack where the offender will send a message on the network by manipulating the user’s number.

Authentication issue: In mobile banking there’s authentication risk at the login time or once we access our account through the mobile system as a result of in mobile banking for the authentication PINS numbers are used however PINS authentication technique is associate degree recent method and lots of security problems such as countersign and id thievery were by stealing the password and id unauthorized access is also potential by obtaining the countersign offender might access our account. Another risk regarding authentication in mobile banking as if the mobile has been stolen then the offender may get the countersign through the mobile and might access the account by exploiting your id and password.

IMPORTANCE OF MOBILE BANKING

Mobile banking permits customers to be ready to access banking services from anywhere. Businesses and business homeowners are currently ready to save time by creating use of mobile applications to method their payments or maybe receive funds from shoppers on to their phone numbers. it’s significantly popular among tiny to medium-sized enterprises (SMEs).

With mobile technology, banks are ready to slow down on operational prices whereas still maintaining shopper satisfaction. The actual fact that any shopper of a bank will build use of their app to request a service, equivalent to opening an associate degree account or maybe the power to schedule debit orders or alternative payments from associate degree application, permits for larger transactional volumes, eventually driving business growth.

Benefits of Mobile Banking

Perpetually on- mobile are often always or are often portable due to inherent design, enabling users to act in activities equivalent to travel or meeting people, whereas transactions via mobile devices are equipped with Internet.
Location-Centric-Not solely is mobile altogether places, world Positioning System (GPS) is also created to acknowledge phones and tries to personalize supported existing services. distinguishing the situation of net users, provides a special advantage for mobile commerce over wired e-commerce. Using this technology, the mobile commerce suppliers can alter to receive and send info to a selected place.
Convenience- others aren’t restricted by time or space, access to electronic activities. For example, people that are stuck in traffic or waiting within the queue are going to be able to shop for their favorite Internet-based activities or manage their daily transactions through mobile commerce applications. customers can apprehend a special comfort that may improve their quality of life. By creating a lot of comfort, the client can be a lot more loyal. As a result, Communication facilities with mobile commerce applications produce a comfortable.
Customization – mobile is a far higher influence than personal computers. Therefore, mobile commerce producers style a lot of creative and a lot of custom mode tools. For example, exploiting demographic data collected by wireless service providers, and {data} on this location of the mobile users will do a lot of targeted advertising. Advertising messages are often custom supported by the knowledge provided through consultation with the users initial or previous users looking habits.
Establish ability – mobile provides to support the secure mobile phone transactions wherever personal computers are nearly unknown (no name). One person perpetually uses mobile devices and it’s ideal for private -based target promoting ,through the technology of worldwide Positioning System (GPS), service suppliers will acknowledge a user rigorously .Personalize chance to deliver messages to totally different components of area and time through sound and look.

Basics of inflation accounting

Inflation accounting is an improvisation of cost accounting in presence of a considerable rate of inflation or deflation.Historical information on financial statements is no longer applicable when a business operates in a country where there is a significant amount of market inflation or deflation. In some cases, companies are allowed to use inflation-adjusted figures to counter this issue, restating the numbers to reflect current economic values.

Advantages of Inflation Accounting

The following are the advantage of Inflation Accounting

It reflects the current( market value) and not the historical cost of the balance sheet.
It is highly effective in times of general inflation or hyperinflation.
Depreciation of the business is valued and cost on the current price and not on the historical or the carrying value of the asset which is the correct method.
Profit and loss will be more reliable and true.
Financial ratios based on figures, adjusted to the current value, are a good reflection of reliable integrity of the company.

Disadvantages of Inflation Accounting

The following are the disadvantage of Inflation Accounting

Changing in price is a never-ending process hence it becomes difficult every time to reinstate the figures of the company and present the financial statements.
Inflation accounting is a complicated process and it involves long calculation and the data gathering process thus increased cost incurred

Annex I: Issues for further work

Framework Working Group

International Financial Architecture Working Group

Infrastructure

Sustainable Finance Working Group

International Taxation

Financial Sector Issues

Global Partnership for Financial Inclusion

Annex 2: Reports and Documents received

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GST and Demonetisation

Why is India not ready yet?

Lack Of Cyber Security

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Origin Of Public Administration

Meaning And Definitions

Significance of Public Administration

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Understanding currency

Need for Crypto

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Best tips for Share Market

1. Prior to investing, set goals

2. Recognize Your Risk Tolerance

3. Choosing a Stock Broker

4. Learn the fundamentals of the stock market

5. Choose companies that are fundamentally sound

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Problems of Small Scale Industries

1. Funding Shortage

2. Idle Capacity

3. Management abilities

4. Sickness

5. Unpredictable raw material supply

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Advantages of Inflation Accounting

Disadvantages of Inflation Accounting

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