Elaborating further on community data, the committee argued that “degree of involvement of larger community in building the body of data” challenges the notion of “individual control over personal data”, the Ministry said in its order.
Fund infusion in the merged entity will provide growth capital enabling the bank to enhance lending, Mehta said. Punjab National Bank will get a fresh capital infusion of around Rs 16,000 crore, the FM said.
This resulted in Rs 52,637 crore of excess provisions identified under a revised Economic Capital Framework (ECF) adopted by the RBI board, which the RBI decided to transfer to the government along with Rs 1.23 lakh crore of surplus transfer for 2018-19.
Apart from a series of measures to enhance the productivity of the Indian economy, Arun Jaitley was instrumental in bringing political consensus for a marathon legislative process and subsequent implementation of the Goods and Services Tax.
A top policy maker in the NDA government told The Indian Express that the surcharge will have the “most deleterious” impact on investments in the country and push out unicorns and discourage the inflow of high quality human capital that India was just beginning to attract.