STUDY POINT 44

RBI forms six-member working group to regulate digital lending frauds  The Reserve Bank of India (RBI) has set up a working group to study digital lending activities of the regulated and unregulated players, due to the growing instances of frauds in digital lending space. The group will suggest steps to regulate digital lending including online lending platform and mobile lending. The group will evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities.  The six-member panel comprises of following four RBI internal and two external members :  1. Jayant Kumar Dash, Executive Director, RBI (Chairman)  2. Ajay Kumar Choudhary, Chief General Manager-in-Charge, Department of Supervision (Member)  3. P Vasudevan, Chief General Manager, Department of Payment and Settlement Systems, RBI (Member)  4. Manoranjan Mishra, Chief General Manager, Department of Regulation (Member Secretary)  5. Vikram Mehta, Co-foun

First time in history, Union Budget 2021 to be paperless  Union Budget 2021, slated to be presented on February 1, is going to be completely paperless in the wake of the ongoing coronavirus pandemic. This will be the first time since independence that the budget papers will not be printed. The Centre has received permission for the same from both houses of parliament. The decision has been taken as several people (approximately 100) would be required to stay at the printing press for around a fortnight amid the COVID-19 fear. The budget papers are usually printed at the ministry's inhouse printing press in the North Block. This year's budget may reportedly witness several conventions being broken as the traditional ‗Halwa‘ ceremony, which is a given every year is also not likely to take place, or a low-key function may be held with limited gathering in attendance. Donald Trump becomes first U.S. President to be impeached twice  President Donald Trump was impeached by the U.S. H