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Wednesday, October 29, 2025 7:20 PM

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India’s Digital Trust Revolution: National Blockchain Framework Redefines Governance

In the backdrop of India’s fast-evolving digital ecosystem, a quiet yet powerful transformation is underway—rooted not in additional red tape, but in a foundation of trust. The National Blockchain Framework (NBF), introduced by the Ministry of Electronics and Information Technology (MeitY) in September 2024 with an outlay of ₹64.76 crore, represents India’s strategic push toward embedding transparency, integrity, and accountability within digital governance. For decades, governance in India operated through siloed databases and hierarchical permissions, often slowing down service delivery and leaving room for inefficiencies or manipulation. The NBF signals a fundamental shift—from centralized control to decentralized validation, leveraging blockchain’s core principles of immutability, shared ledgers, and trust-by-design systems. At its core, the framework is powered by the Vishvasya Blockchain Stack—a homegrown, modular “Blockchain-as-a-Service (BaaS)” platform managed by the National Informatics Centre (NIC). The stack operates across data centers in Bhubaneswar, Pune, and Hyderabad, forming the technological backbone of this nationwide initiative. Complementing it are two crucial components: NBFLite, a sandbox environment fostering innovation by allowing startups, researchers, and educational institutions to experiment with blockchain-based solutions. Praamaanik, a blockchain-enabled verification tool ensuring mobile applications’ authenticity. The results, even at this early stage, are impressive. As of October 21, 2025, over 34 crore documents have been verified using the platform—spanning property records, judiciary databases, logistics systems, and educational certificates. What began as an ambitious architectural blueprint has swiftly evolved into a functional ecosystem delivering real-world trust and efficiency. For citizens, this translates to instant verification and reduced dependency on intermediaries. For governments, it ensures secure, auditable processes resistant to tampering. For businesses, it creates a transparent environment that enhances compliance and confidence. Collectively, it strengthens India’s push for Atmanirbhar Bharat, by nurturing indigenous technology and reducing reliance on external blockchain systems. However, this transformation isn’t without hurdles. Integrating blockchain across diverse state systems and departments demands continuous skill-building, harmonization of legal frameworks, and alignment between policy and technology. Equally vital is citizen awareness—without which digital trust cannot fully take root. Echoing Prime Minister Narendra Modi’s vision that “Digital India is an empowered India,” the NBF stands as more than an infrastructure project—it’s a reimagination of governance built on verified truth and transparency. As the framework expands, India is poised to witness governance that’s faster, verifiable, citizen-driven, and inherently trustworthy—anchored by a digital backbone designed for trust. Source: DD News

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India Post to Resume All Postal Services to the U.S. from October 15

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The Department of Posts has announced that all categories of international postal services to the United States will resume from October 15, marking the end of a nearly two-month suspension. Postal operations to the U.S. were halted on August 22 due to new regulatory changes introduced by the U.S. Customs and Border Protection (CBP) under Executive Order 14324, which removed de minimis exemptions and required new duty collection procedures. Following extensive technical upgrades, trial runs, and coordination with CBP-approved Qualified Parties, India Post has now implemented a Delivery Duty Paid (DDP) system. This mechanism ensures that customs duties are collected upfront in India during booking, streamlining the process and allowing packages to reach recipients in the U.S. without any additional charges or delays at customs. As per CBP’s updated guidelines, all postal consignments from India to the U.S. will now be subject to a flat customs duty of 50% on the declared FOB (Free on Board) value. However, postal exports will remain exempt from base or product-specific tariffs typically applicable to courier or commercial shipments. This simplified structure aims to benefit MSMEs, artisans, small traders, and e-commerce exporters, making postal exports a more affordable and efficient option for cross-border trade. Notably, India Post will not charge any extra service fees for the DDP process or Qualified Party facilitation. Existing postal rates remain unchanged, preserving the cost advantage for exporters. Customers can now send EMS, Air Parcels, Registered Letters/Packets, and Tracked Packets to the U.S. through any Post Office, International Business Centre (IBC), Dak Ghar Niryat Kendra (DNK), or via the official website www.indiapost.gov.in. Source: DD News

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SEBI Collaborates with UIDAI and RBI to Enable Remote KYC for NRIs

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The Securities and Exchange Board of India (SEBI) is in advanced discussions with the Unique Identification Authority of India (UIDAI) and the Reserve Bank of India (RBI) to introduce a secure remote KYC (Know Your Customer) process for non-resident Indians (NRIs). The initiative, which is currently in the testing stage, aims to allow NRIs to complete KYC verification without the need to physically visit India. SEBI Chairman Tuhin Kanta Pandey described the move as a key priority for the regulator, stating, “This will be a major development once implemented, as it will simplify market access for NRIs.” He made these remarks while addressing an event organised by the BSE Brokers Forum (BBF). Pandey also outlined SEBI’s efforts to strengthen market surveillance, noting that the regulator is transitioning from “reactive supervision to predictive oversight.” He revealed that SEBI has revamped its data warehouse systems to incorporate advanced rule-based alerts designed to detect pump-and-dump schemes, bulk trade manipulations, and other fraudulent activities. Highlighting the regulator’s data-driven approach, Pandey said that such manipulative trading patterns are often traceable through analytics, and the upgraded surveillance infrastructure will enable SEBI to act more proactively. In addition, SEBI is working on a safety net mechanism for depository participants (DPs) to handle outages more effectively—similar to safeguards currently in place for stock brokers. “We are examining a system where, in case of a DP outage, issues can be managed at the depository level,” Pandey explained. On the foreign portfolio investor (FPI) front, SEBI plans to streamline registration further. “The FPI registration process is our window to the world. If that window is clogged with operational hurdles, it loses its clarity. The goal is not to increase risk but to simplify and modernize,” Pandey remarked. He reaffirmed SEBI’s continued focus on investor protection, particularly against cyber fraud and misleading financial advice from unregistered influencers. At the Global Fintech Fest (GFF) 2025 last week, Pandey also highlighted SEBI’s technology-driven reforms, including the Investor Risk Reduction Access Platform and a Unified Investor App, which have enhanced transparency and ease of access. These tools consolidate investor holdings, transaction histories, e-voting, and proxy advisory information under one interface. Pandey added that grievance redressal has also become more efficient through the integration of the Digital Locker system and an upgraded SEBI Complaints Redressal System (SCORES), further reinforcing the regulator’s commitment to a safer, more transparent market ecosystem. Source: IANS

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FM Nirmala Sitharaman Launches Nationwide Drive to Return ₹1.84 Lakh Crore in Unclaimed Assets

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Finance Minister Nirmala Sitharaman on Saturday unveiled a major national campaign aimed at returning nearly ₹1.84 lakh crore worth of unclaimed financial assets to their rightful owners. These funds are currently lying idle across banks, the Reserve Bank of India (RBI), insurance companies, mutual funds, provident fund accounts, and other financial institutions. The three-month-long initiative focuses on creating public awareness and simplifying the process for individuals and families to reclaim their lost or forgotten assets. “These unclaimed amounts are not the government’s property — they belong to citizens,” Sitharaman emphasized, noting that people have long demanded action to recover such funds from entities like the RBI or the Investor Education and Protection Fund (IEPF). Explaining the reasons behind unclaimed assets, she said they often result from missing documents, untracked policies, or lack of awareness, describing the situation as “a ripe fruit hanging within reach but not yet claimed by those it belongs to.” The campaign is structured around three core pillars — Awareness, Access, and Action. Awareness: Educating citizens about the existence of unclaimed money. Access: Enabling easier tracking through the RBI’s UDGAM portal. Action: Ensuring officials follow up on even the smallest clues to help people reclaim their assets. Reassuring the public, the Finance Minister said the funds remain safe and are merely held in custody by the government and financial institutions, not owned by them. “Whether with banks, SEBI, or any other body, the money is securely maintained,” she said. Unclaimed deposits are transferred to the RBI, while unclaimed shares and securities are moved to the IEPF. The government aims to use this drive to reconnect individuals with their financial assets and enhance public trust in the country’s financial ecosystem. Source: TNN

FM Nirmala Sitharaman Launches Nationwide Drive to Return ₹1.84 Lakh Crore in Unclaimed Assets Read More »

MoPR to Launch Nationwide ‘Sabki Yojana, Sabka Vikas’ Campaign on Oct 2 to Strengthen Grassroots Planning

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The Ministry of Panchayati Raj (MoPR) is set to launch the nationwide “Sabki Yojana, Sabka Vikas” campaign on October 2, kicking off the People’s Plan Campaign (PPC) 2025–26 for preparing Panchayat Development Plans (PDPs) for 2026–27. First introduced in 2018, the initiative has helped Panchayats draft inclusive, evidence-based, and convergent development plans in line with both local needs and national objectives. As per data available on the eGramSwaraj portal, more than 18.13 lakh development plans have been uploaded since 2019–20, including 2.52 lakh plans under the current 2025–26 cycle. On September 26, Additional Secretary Sushil Kumar Lohani reviewed the readiness of States, Union Territories, and State Institutes of Rural Development in a virtual meeting. The MoPR has instructed States/UTs to strengthen monitoring systems, appoint nodal officers, train facilitators, finalize Gram Sabha schedules, and ensure public information boards are displayed before the end of September. The campaign will commence with Special Gram Sabhas on October 2, where past plans will be digitally reviewed through platforms such as eGramSwaraj, Meri Panchayat App, and Panchayat NIRNAY. Villages will also identify and prioritize incomplete projects funded under Central Finance Commission grants. Planning will be guided by the Panchayat Advancement Index (PAI) and supported by digital tools like SabhaSaar, with a push towards improving Own Source Revenue (OSR) and expanding community involvement. A special focus will also be placed on tribal empowerment through the Adi Karmayogi Abhiyaan. According to the ministry, this exercise is designed to strengthen participatory democracy, enhance transparency and accountability, and ensure better service delivery at the grassroots, reinforcing the role of Panchayats as vital institutions of rural governance. Source: DD News 

MoPR to Launch Nationwide ‘Sabki Yojana, Sabka Vikas’ Campaign on Oct 2 to Strengthen Grassroots Planning Read More »

PM Modi on GST reforms: “Savings festival to bring smiles to every household”

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Prime Minister Narendra Modi on Monday praised the rollout of the new Goods and Services Tax (GST) reforms, describing them as a step that will reduce expenses and spread happiness across homes. Speaking during his visit to an exhibition in Itanagar, Modi interacted with local traders and retailers, emphasizing how the changes would ease financial burdens. Sharing newspaper headlines on social media platform X, he wrote, “From markets to households, GST Bachat Utsav brings a festive buzz, ensuring lower costs and brighter smiles in every home!” The revised GST structure, which came into effect on September 22, coinciding with the start of Navratri, replaces the earlier four-tier system of 5%, 12%, 18%, and 28% with a simplified two-rate model of 5% and 18%. The government projects that these changes, along with earlier income tax reliefs, could result in national savings of ₹2.5 lakh crore. In his address on Sunday, Modi highlighted that the reforms would empower farmers, youth, women, shopkeepers, small traders, and entrepreneurs. He stressed that MSMEs stand to gain significantly, with higher sales and reduced tax liabilities creating a “double bonanza.” The Prime Minister also urged citizens to prioritize Indian-made products, stating that self-reliance and pride in local goods will accelerate the nation’s progress. Source: Hindustan Times

PM Modi on GST reforms: “Savings festival to bring smiles to every household” Read More »

PM Modi: ‘Bharatiya Model’ Driving Vision of Viksit Bharat 2047

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Prime Minister Narendra Modi on Tuesday endorsed an article by Union Minister Mansukh Mandaviya, which underlined how the philosophy of “Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas” is shaping India’s development journey. Mandaviya’s piece described how governance reforms have transformed lives — electricity is now a basic facility rather than a luxury, welfare schemes are delivered directly to beneficiaries, and infrastructure planning is powered by digital platforms. Sharing the article on X, PM Modi said, “This Bharatiya Model, first tested in Gujarat and later implemented nationwide, has carried governance to the grassroots, ensuring promises translate into delivery. It is paving the way for Viksit Bharat by 2047.” In another post, PM Modi hailed Indian chess star Vaishali Rameshbabu for defending her FIDE Women’s Grand Swiss title in Samarkand, Uzbekistan. The victory also secured her a spot in the 2026 FIDE Women’s Candidates Tournament. Calling her success an “outstanding accomplishment,” the Prime Minister lauded Vaishali’s dedication and wished her success in upcoming challenges. Vaishali scored 8 points in 11 rounds, edging past Kateryna Lagno on tie-breaks to claim the crown. With this, she became the third Indian woman to qualify for next year’s Candidates tournament, joining Divya Deshmukh and Koneru Humpy. The achievement adds to a landmark year for Indian women’s chess. For Vaishali, it also marks a strong comeback after recent setbacks, including modest results in events like the Chennai Grand Masters Challengers, Norway Chess Women’s Tournament, Women’s Grand Prix (Austria & Pune), and the Tata Steel Women’s Challengers. Source: DD News Photo Credit: PTI

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India’s Economy Holds Steady Despite Global Trade Pressures: SBI Capital Report

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India’s economy continues to demonstrate robust resilience amid global trade headwinds and fiscal strains, supported by strong domestic demand and government expenditure, according to a new report by SBI Capital Markets. The study highlighted that while protectionist tariff policies — particularly from the United States — have become a major global challenge, India managed to remain relatively shielded in the first quarter, achieving an impressive GDP growth of 7.8%. The report pointed to ongoing structural reforms as a key factor driving momentum. A streamlined Goods and Services Tax (GST) framework is expected to inject around ₹50,000 crore into the economy, further boosting consumption. However, Indian exporters are increasingly under strain due to retaliatory tariffs from trade partners, with some duties reaching 50%. Notably, a 25% levy linked to Russian crude purchases has heightened cost pressures and disrupted trade flows. On the currency front, despite a softer U.S. dollar, the Indian rupee depreciated nearly 5% year-on-year, hitting record lows. The Reserve Bank of India has limited its interventions, opting instead to allow the weaker currency to support exports while conserving forex reserves. Externally, while capital inflows remain tepid, the current account deficit is viewed as manageable despite sluggish merchandise exports. The analysis also contrasted India’s fiscal situation with that of advanced economies. Rising debt burdens in countries such as the U.S. and U.K. are steepening bond yield curves, while in India, higher state government borrowing continues to exert pressure on long-term yields. Adding to the global backdrop, weaker U.S. employment data has heightened expectations of an imminent Federal Reserve rate cut in its upcoming policy review, the report noted. Source: IANS Photo Credit: iStock  

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New GST Reforms to Strengthen Indian Agriculture, Says Union Minister Shivraj Singh Chouhan

Union Agriculture and Rural Development Minister Shivraj Singh Chouhan has said that the recently announced GST reforms will significantly reduce the cost of farming, directly benefiting small and medium farmers across India. Addressing a press conference in Bhopal, he described the changes as a “boon for farmers and rural India.” Major Relief for Agriculture and Dairy The Minister highlighted that the reduction of GST on bio-pesticides and micro-nutrients will encourage farmers to adopt organic and natural farming over chemical fertilizers. Additionally, the complete exemption of GST on milk and cheese is expected to boost the dairy sector, benefiting consumers, dairy farmers, cattle rearers, and producers. GST cuts on butter, ghee, and milk cans will further strengthen the sector. Lower Costs for Farming Equipment According to Shri Chouhan, GST on agricultural machinery — including tractors, harvesters, power tillers, threshers, paddy planters, and seed drills — has been slashed from 18% to 5%, bringing substantial savings. A 35 HP tractor will now cost around ₹6.09 lakh, saving farmers nearly ₹41,000.  A 45 HP tractor will be cheaper by ₹45,000, while a 75 HP tractor will cost ₹63,000 less.  Equipment such as multi-crop threshers, paddy planters, power weeders, mulchers, and seed-cum-fertilizer drills will also see price reductions ranging between ₹5,000 and ₹32,000.  “These reforms mean that a farmer investing in essential machinery can save anywhere between ₹25,000 and ₹63,000,” Chouhan emphasized. Boost for Allied Sectors and Women Entrepreneurs The Minister also pointed out that allied activities such as animal husbandry, poultry, fisheries, beekeeping, and agro-forestry will gain momentum under the new GST regime. He praised the work of women self-help groups engaged in handicrafts, milk products, and rural enterprises, saying the exemptions would further empower initiatives like ‘Lakhpati Didi’, enhancing women’s income in villages. Support for Organic Farming and Food Processing GST reduction on fertilizer raw materials such as ammonia, sulphuric acid, and nitric acid (from 18% to 5%) is expected to lower fertilizer costs, making organic and natural farming more affordable. Similarly, reduced GST on processed fruits, vegetables, fish, honey, and dry fruits will support value addition and food processing industries, ensuring farmers get higher returns. Rural Infrastructure and Energy Savings Chouhan added that GST cuts on cement, iron, drip irrigation systems, and renewable energy equipment will lower the cost of rural housing, infrastructure projects, and irrigation, aligning with government schemes like Pradhan Mantri Awas Yojana. This, he said, will improve both living standards and productivity in rural India. Strengthening the Rural Economy “These GST reforms are more than just tax cuts — they represent a next-generation reform that will make agriculture profitable, promote allied farming, and empower women entrepreneurs,” the Minister said. He added that lower costs and rising demand would inject more money into the economy, ultimately boosting rural prosperity. Expressing gratitude to Prime Minister Narendra Modi and the Finance Ministry, Chouhan concluded: “Our goal is clear — to reduce production costs, increase output, and ensure higher profits for farmers. These GST reforms will change the face of Indian agriculture.” Source: PIB

New GST Reforms to Strengthen Indian Agriculture, Says Union Minister Shivraj Singh Chouhan Read More »

GST Council Unveils New 5% and 18% Tax Slabs, Effective September 22

In a landmark move, the GST Council in its 56th meeting, chaired by Finance Minister Nirmala Sitharaman, approved a simplified tax structure by removing the 12% and 28% slabs. The new framework will now feature two primary slabs of 5% and 18%, along with a special 40% bracket for luxury and sin goods. The revised rates will come into force from September 22. The marathon meeting, which lasted over 10 hours, saw the Centre and states reaching a consensus on rationalisation. West Bengal Finance Minister Chandrima Bhattacharya pegged the estimated revenue loss from this restructuring at ₹47,700 crore, while Uttar Pradesh Finance Minister Suresh Khanna noted that the final tax incidence on demerit goods could still see further review. Speaking to the press, Sitharaman highlighted that the reforms prioritise the middle class and common man. Daily-use products such as hair oil, soaps, shampoos, toothbrushes, toothpaste, bicycles, kitchenware, and tableware will now attract a 5% rate. Items reduced from 5% to nil tax include UHT milk, paneer, chena, and all varieties of Indian breads. Several food and FMCG items like namkeen, sauces, pasta, noodles, chocolates, coffee, butter, ghee, preserved meat, cornflakes have been brought down to 5%. Goods earlier taxed at 28%—including air conditioners, larger television sets, dishwashers, small cars, and motorcycles up to 350 cc—will now fall under the 18% bracket. The highest GST category of 40% will be applicable to products like cigarettes, gutka, chewing tobacco, bidis, zarda, paan masala, and certain sugary or caffeinated beverages including carbonated drinks and fruit-based fizzy beverages. Prime Minister Narendra Modi welcomed the move, calling it a step towards ease of living. He said the decision, made jointly by the Centre and states, will significantly benefit farmers, MSMEs, the middle class, women, and youth. During my Independence Day Speech, I had spoken about our intention to bring the Next-Generation reforms in GST. The Union Government had prepared a detailed proposal for broad-based GST rate rationalisation and process reforms, aimed at ease of living for the common man and… — Narendra Modi (@narendramodi) September 3, 2025 Hon’ble Prime Minister Shri @narendramodi announced the Next-Generation GST Reforms in his Independence Day address from the ramparts of Red Fort. Working on the same principle, the GST Council has approved significant reforms today. These reforms have a multi-sectoral and… pic.twitter.com/NzvvVScKCF — Nirmala Sitharaman Office (@nsitharamanoffc) September 3, 2025 Source: India TV Photo Credit: PTI

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