India needs proper legal framework to check e-frauds: CMAI
The Dollar Business Bureau CMAI Association of India (CMAI), which represents companies across ICT, telecom, and cyber security segments, said on Wednesday that the country needs separate laws and courts for digital payment issues together with an ‘appropriate legal framework’, as the digital payments witnessed a manifold growth after demonetisation. CMAI said there is a need for an appropriate legal framework to protect the consumers in case they lose their money in digital transactions. NK Goyal, President of CMAI, said, “As of now, India does not have appropriate laws in this regard. The only solution available is under the Information Technology (IT) Act 2000, which mainly deals with cyber thefts. All the cases of losing money during digital payments may not come under ...
APEC 2014: China accedes, USA concedes, India looks on
Bidhu Bhushan Palo | @TheDollarBiz Source - APEC Onlookers are usually rattled when rivals join hands to improve their financial condition because talks on economic partnerships can neither be superficial nor mere diplomacy. And this time, it is Barack Obama, Vladimir Putin and Xi Jinping who have forgotten their differences to meet by the Yanqi Lake in Beijing to take forward the economic partnership among 21 nations on both sides of the Pacific Ocean. Formed 25 years ago in 1989, the influence and the potential of the Asia-Pacific Economic Cooperation (APEC) is huge. In 2010, this group’s total trade stood at around $16.8 trillion ($3 trillion or 18% by China alone), which is more than five times the $3.1 trillion ...
