Recently, the RBI proposed establishing a Digital Payments Intelligence Platform.

• RBI Proposes to Set Up a ‘Digital Payments Intelligence Platform’ to Mitigate Payment Fraud Risks
• The RBI has created a committee led by Shri A.P. Hota, former MD & CEO of NPCI.
• The committee will explore different aspects of setting up this digital public infrastructure.

Digital Payments Intelligence Platform:

• Digital Payments Intelligence Platform is an initiative by the RBI
• Objective: To enhance the security and reliability of digital payments, boost consumer confidence, and mitigate fraud risks.
• Need of this platform: RBI wants to improve the existing e-mandate system because more people are using automatic recurring payments.

Features:

• Technology Integration: The platform will leverage advanced technologies to counteract fraud.
• The e-mandate system will now cover regular payments but not always at fixed times.
• For Example, This includes topping up Fastag balances for tolls or the National Common Mobility Card (NCMC) used in public transport.
• Integration Plan: RBI plans to include UPI Lite in the e-mandate system to make it more popular among users.

Benefits of Digital Payments Intelligence Platform:

1. Reduced Fraud and Increased Consumer Confidence

• Real-time data sharing: By enabling real-time data exchange across the network, the platform can quickly identify suspicious patterns and transactions.
• This allows authorities to take quicker action and prevent fraudulent activities before they occur.
• Improved detection capabilities: Advanced analytics on the platform can help identify emerging fraud techniques and develop more robust countermeasures.
• This will make it harder for fraudsters to exploit loopholes in the system.
• Increased consumer trust: With a more secure environment, consumers will be more confident using digital payments, leading to wider adoption and growth of the digital economy.

      2. Automated Top-ups for Convenience

• Benefit for Customers: People can set their Fastag and NCMC to refill automatically when their balance drops below a chosen level.
• Ease of Use: This makes paying for travel and transportation simpler and faster.

      3. Enhanced Efficiency and Convenience:

• Streamlined fraud resolution: Faster identification of fraudulent transactions will lead to quicker resolution for victims, minimizing inconvenience and financial loss.
• Improved regulatory oversight: The platform can give regulators a centralized view of digital payments.
• It allows them to develop more effective policies and regulations.
• Innovation Potential: The platform can act as a foundation for future innovations in the digital payments space, fostering the development of new secure and convenient payment methods.

The Jharkhand Governor and Chief Minister recently paid tribute to tribal icon Birsa Munda on his death anniversary.

Birsa Munda:

• He was a folk hero and a tribal freedom fighter who played a pivotal role in the Indian independence movement, particularly in the tribal regions of British India.
• He belonged to the Munda tribe in the Chhotanagpur Plateau area.
• He spearheaded an Indian tribal mass movement that arose in the Bihar and Jharkhand belts in the early 19th century under British colonisation.
• Munda rallied the tribals to fight against the forceful land grabbing carried out by the British government, which would turn the tribals into bonded labourers and force them to abject poverty.
• He influenced his people to realise the importance of owning their land and asserting their rights over it.
• Birsa encouraged the tribe to stick to their traditions and get back to their tribal roots.
• One of Birsa''s notable contributions was the formation of the Munda Rebellion, also known as the Ulgulan, or the Tamar Revolt, in the late 19th century.
• The rebellion was a response to the oppressive policies of the British administration, including the introduction of the Forest Laws, that restricted tribal access to their traditional lands, and the imposition of exorbitant taxes.
• Birsa united various tribal communities under the banner of the Munda Raj and led a series of guerrilla warfare campaigns against the British forces.
• Birsa Munda''s leadership during the Munda Rebellion earned him the title of "Bhagwan" or "Birsa Bhagwan" among his followers.
• He often took inspiration from Munda traditions, Christianity, and Hinduism to guide his followers in rituals and prayers.
• His struggle against exploitation and discrimination against tribals led to a big hit against the British government in the form of the Chotanagpur Tenancy Act being passed in 1908.
• The act restricted the passing on of land from the tribal people to non-tribals.
• Birsa also played a crucial religious role among the Munda people.
• He founded the faith of Birsait, a blend of animism and indigenous beliefs, which emphasized the worship of a single god.
• He became their leader and was given the nickname, ‘Dharti Aba’ or the father of the earth.
• He died on June 9, 1900, at age 25.
• In recognition of his impact on the national movement, the state of Jharkhand was created on his birth anniversary in 2000.
• November 15, the birth anniversary of Birsa Munda, was declared ‘Janjatiya Gaurav Divas by the Central Government in 2021.

Prime Minister Modi took oath today along with 71 ministers of the new coalition government. Thirty of them are Cabinet Ministers, five independent charge, and 36 Ministers of State.

Cabinet Committee on Security (CCS):

• It is headed by the Prime Minister.
• The Committee discusses, debates, and is the apex body when it comes to the appointments of the officials in the national security bodies.
• It also makes all the important decisions on defence policy and expenditure and, generally, all matters of India’s security.
• Members: PM, Ministers of Defence, Home Affairs, Finance and External Affairs.
• Functions:Deals with all the issues related to the defence and security of India.
• The CCS deals with all issues related to the law and order and national security of India.
• It discusses different initiatives to take to enhance the national security of India.
• It also deals with policy matters of foreign affairs that may have a bearing on internal or external security implications, including cases relating to agreements with other countries on security-related issues.
• The Committee discusses the political issues which can impact the security of our nation.

Cabinet Committees:

• Cabinet Committees are extra-constitutional, meaning, they are not mentioned in the Indian Constitution.
• They are partly designed to reduce the burden on the Union Cabinet by allowing smaller groups of ministers to make decisions on specific policy areas.
• They are constituted or reconstituted when a new government takes over or the Cabinet undergoes a reshuffle.

There are a total of 8 cabinet committees:

1. Cabinet Committee on Economic Affairs.
2. Cabinet Committee on Political Affairs.
3. Cabinet Committee on Investment and Growth.
4. Cabinet Committee on Security.
5. Cabinet Committee on Parliamentary Affairs.
6. Cabinet Committee on Employment and Skill Development.
7. Cabinet Committee on Accommodation.
8. Appointments Committee of the Cabinet.

The Central Board of Indirect Taxes and Customs (CBIC) recently started automatic electronic payment of duty drawback amounts directly into exporters’ bank accounts.

Duty Drawback Scheme:

• It is a trusted and time-tested scheme administered by CBIC to promote exports.
• It rebates the incidence of Customs and Central Excise duties, chargeable on imported and excisable material, respectively, when used as inputs for goods to be exported.
• The duty drawback provisions are described under the Customs Act, 1962.
• This WTO compliant scheme ensures that exports are zero-rated and do not carry the burden of the specified taxes.
• It is a crucial program to help exporters offset some of the costs accrued during the export process, particularly in the supply or value chain.

The following are the eligible goods for the duty drawback:

1. To export goods imported into India
2. To export goods imported into India after having been taken for use
3. To export goods manufactured/produced out of imported material
4. To export goods manufactured/produced out of indigenous material
5. To export goods manufactured /produced out of imported or indigenous materials.

The following are the minimum criteria to claim for processing drawback claims:

1. Any individual must be the legal owner of the goods at the time the goods are exported.
2. He/she must have paid customs duty on imported goods.
3. Duty drawback is available on most goods on which customs duty was paid on importation and which has been exported.

Central Board of Indirect Taxes and Customs (CBIC):

• CBIC (erstwhile Central Board of Excise and Customs) is a part of the Department of Revenue under the Ministry of Finance, Government of India.
• CBIC administers all the indirect tax-related matters in India.
• It deals with the tasks of formulation of policy concerning levy and collection of Customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matters relating to Customs, Central Excise, Central Goods & Services Tax, IGST, and Narcotics to the extent under CBIC''s purview.
• The Board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerates, and the Central Revenues Control Laboratory.
• It also ensures that taxes on foreign and inland travel are administered as per the law, and the collection agencies deposit the taxes collected to the public exchequer promptly.