India has, for many years, faced the problem of black money. Despite the measures taken by the government to address this issue, results are few and far between. There still exist stacks of unaccounted money, creating a huge loss for the government. Thus, efficient, proactive government reform is a need of the hour to address this issue.
Banking Regulation (Amendment) Bill, 2020 was introduced in Lok Sabha on 3rd March 2020 to improve cooperative banks’ management and regulation so as to protect the interests of the depositors. It also proposed to strengthen the cooperative banks by increasing professionalism, enabling access to capital, improving governance and ensuring sound banking through the RBI. This bill seeks to ensure that PMC-like frauds are not repeated in the future.
Cyber warfare is becoming a new domain of warfare among nations. This warfare is different from others as even non-state players like terrorists and organised criminal groups are involved in it on a daily basis.
With increased digital transaction in India, post demonetisation, it is essential for the government of India to take measures to safeguard Indian citizens from crimes related to Cyber Space.