Supreme Court: Right to a Speedy Trial Cannot Override NDPS Act Bail Conditions  ||  SC: Relatives Cannot be Implicated in Bigamy Solely Based on Knowledge of a Second Marriage  ||  Supreme Court: Service Inam Land Attached to a Mosque Constitutes Waqf Property and is Inalienable  ||  Supreme Court: Court Cannot Order an Accused to Surrender While Denying Anticipatory Bail  ||  Supreme Court: Landlord’s Legal Heirs May Amend an Eviction Suit to Include Bona Fide Need  ||  Supreme Court: Unsuccessful Party Can Invoke Section 9 of the Arbitration Act Even After an Award  ||  Karnataka High Court: Accused Cannot be Required to Share Live GPS Location as a Condition of Bail  ||  Guj HC: Plaintiff in Specific Performance Suit Must Prove Readiness &Willingness to Perform Contract  ||  Madras HC: Transgenders are Children of God, Tragedy Lies in Society’s Blindness, Not Their Birth  ||  Del HC: False Educational Qualification Declaration does not amount to Corrupt Practice U/S 123(4)    

Cabinet approves MoU on Collaborative Research on Distributed Ledger and Block Chain Technology- (Press Information Bureau) (12 Sep 2018)

MANU/PIBU/1322/2018

Civil

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the Memorandum of Understanding (MoU) on Collaborative Research on Distributed Ledger and Block chain Technology in the context of Development of digital economy by Export-Import Bank of India (Exim Bank) with the participating member banks, under the BRICS Interbank Cooperation Mechanism namely Banco Nacional de Desenvolvimento Economico e Social (BNDES, of Brazil), China Development Bank (CDB), State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank, of Russia) and Development Bank of Southern Africa (DBSA).

Major Impact

Distributed Ledger/Block chain technology holds potential for solutions to various challenges being faced in the financial sector space of the BRICS nations. The MoU intends to enhance understanding of Distributed Ledger/Block Chain technology, through the joint research efforts to identify areas within respective business operations where it may have the potential for applications aimed at enhancing the operational efficiencies.

Background:

The Xiamen Declaration signed in China on digital economy by the BRICS leaders had highlighted the importance of the digital economy and how the BRICS nations could leverage the thriving and dynamic digital economy that will foster global economic development and benefit everyone. Accordingly, a Memorandum of Understanding (MoU) on Collaborative Research on Distributed Ledger and Block chain Technology in the Context of the Development of the Digital Economy was suggested to be inked by all member banks.

Tags : APPROVAL   MOU   DIGITAL ECONOMY  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved