Digital
Nasscom Foundation presents TechForGood India Conclave 2024
Mumbai: Aligned with the UN’s 2030 SDG Agenda, nasscom foundation presents the TechForGood India Conclave 2024. Themed “Accelerating the 2030 Agenda for Sustainable Development through Technology,” this event is set to take place on Thursday, 18 January 2024, at the India Habitat Centre, New Delhi. The initiative stands as a pivotal platform uniting various stakeholders, including government entities, organisations, civil society, last-mile enablers, social innovators, and the social investment community to facilitate impactful discussions and offer a collective perspective on leveraging digital innovation and data-driven solutions to drive SDG advancements.
The SDGs pose significant challenges while presenting unparalleled opportunities for businesses, governments, and communities in India and across the globe. It’s imperative to recognise that the deceleration of SDG progress isn’t restricted to specific regions; it’s a global concern requiring collective action. Addressing these challenges necessitates leveraging the power of technology as a force multiplier, promising progress. And as the next 7 years become crucial, the realisation that technology is the key is becoming irrefutable.
Speaking about the conclave Nasscom foundation CEO Nidhi Bhasin said, “The TechForGood India Conclave 2024 aims at uniting changemakers to accelerate India’s progress towards the SDGs, sparking bold action on critical issues like sustainability, digital equity and social innovation. We are positive that the conclave will enable the participants to co-create actionable solutions and harness the power of technology to unlock accelerated and more inclusive development”.
With curated master classes, flash panel sessions, visionary talks and fireside chats, over 10 hours of actionable insights, and the opportunity to connect with social innovators and thought leaders within the tech community, the event will dive deep into critical issues like championing sustainable dwellings, adoption of sustainable supply chains, climate change, green building, healthcare, education, and women entrepreneurship through the lens of technology and SDGs. Some notable speakers and delegates include Abhishek Singh, additional secretary, ministry of electronics and information technology; Sundari Nanda, special secretary ministry of home affairs; Urvashi Prasad, Director, NITI Aayog; Sindhu Gangadharan, SVP & MD at SAP Labs India; Amitabh Nag, CEO, Bhashini; Anjali Bansal, founding partner, Avaana Climate and Sustainability Fund; Srividya Nataraj, vice president, corporate service, CGI; Dhimant Parekh, founder & CEO, The Better India.
With designed framework, the event highlights include:
· Ask Me Anything @TechBaithak: A platform for NGOs to access communities that can help with digital empowerment such as open source, digital marketing amongst others
· TechForGood innovation showcase: A platform for social innovators to showcase their innovations and demonstrate the impact on SDGs
· Access to theme based networks: Demarcated zones for theme based networking, to promote cross market linkages and collaboration.
Agenda Link: https://techforgood.nasscomfoundation.org/agenda.php
Registration Link: https://techforgood.nasscomfoundation.org/register.php
Digital
RBI proposes Rs 25,000 compensation cap for small digital fraud losses
RBI, customer bank and beneficiary bank will share payouts
NATIONAL: The Reserve Bank of India has proposed a new compensation framework for small-value fraudulent electronic banking transactions, requiring the central bank, the customer’s bank and the beneficiary’s bank to share payouts to affected customers.
Under draft rules released on Friday, compensation will be capped at the lower of 85 per cent of the net loss amount or Rs 25,000 in cases where the gross loss from a fraudulent electronic transaction is up to Rs 50,000.
The proposal comes as regulators step up efforts to strengthen customer protection amid a rise in digital banking frauds.
RBI governor Sanjay Malhotra had indicated during last month’s monetary policy announcement that the central bank planned to introduce a compensation framework for small-value digital frauds, allowing affected customers to claim relief once during their lifetime.
According to the draft guidelines, when the loss is below Rs 29,412, compensation of 85 per cent of the loss will be paid. Of this amount, 65 per cent will be borne by the RBI, while the customer’s bank and the beneficiary bank will contribute 10 per cent each.
For losses of Rs 29,412 or more but up to Rs 50,000, the compensation will be capped at Rs 25,000. In such cases, the RBI will contribute Rs 19,118, while the customer’s bank and the beneficiary bank will each contribute Rs 2,941.
If funds are later recovered after compensation has been paid, the customer’s bank must recalculate the payout based on the revised net loss and adjust the recovered amount accordingly.
Customers will be eligible for compensation only if they report the fraudulent transaction within five calendar days of its occurrence.
Complaints must be lodged both with the bank and through the National Cyber Crime reporting portal or the National Cyber Crime helpline. Banks must also confirm that the loss is bona fide under their internal processes.
Once a complaint is received, banks must compensate the customer within five calendar days, the draft rules state.
In joint accounts, only one account holder may submit a compensation claim.
The central bank has also proposed tightening transaction alerts by mandating instant SMS notifications for all electronic banking transactions above Rs 500. For transactions of up to Rs 500, banks may decide whether to send alerts based on internal policies.
Banks will not be allowed to charge customers for SMS messages sent to meet regulatory requirements or those used for promotional, marketing or customer awareness purposes.
The draft framework also calls for stronger oversight by requiring banks to periodically report complaints related to fraudulent electronic transactions to their boards or board-level committees. These reports must detail the number and value of cases across categories including card-present transactions, card-not-present transactions, internet banking, mobile banking and ATM transactions.
The RBI has invited public comments on the draft guidelines until 6 April, 2026. The rules are expected to take effect on 1 July, 2026 once finalised.
Banking officials say the proposed sharing of compensation between the RBI, the customer’s bank and the beneficiary bank is intended to increase vigilance across the digital payments ecosystem.
