wish all success for today's deliberations. thank you. 1 it incorporates various new age features like a data lake and integrated analytics with much higher processing speeds and scalability. data lake is envisioned as a part of cims, which is more flexible than usual database systems, in terms of data fetching from multiple systems ( inside and outside rbi ), data storage ( both structured and unstructured information ) and data processing ( standard and dynamic query based reports ). 2 the innovations implemented in the cims include : ( a ) to improve exchange of data and metadata, a statistical data and metadata exchange ( sdmx ) based repository has been implemented, which consists of the sdmx elements and related artefacts, undertakes data standardisation by aligning the elements with business concepts, and facilitates visualisation at desired level of granularity by drilling down elements ; ( b ) a novel sdmx data conversion tool has been developed and implemented to generate sdmx time series from periodic data submitted by regulated entities ; ( c ) all regtech and suptech data collection features have been implemented through creation of 2 / 3 bis - central bankers'speeches sdmx artefacts / metadata in server - to - server data transmission and data governance ; ( d ) an advanced analytical platform to perform statistical analysis connecting cross domain data has been implemented with integrated programming interface ; ( e ) an sdmx data query functionality provides interactive metadata driven search and data visualisation analytical platform for the general public ; ( f ) power user capability known as common data platform has been implemented ; and ( g ) functionality of regular information submission has been enriched with dashboards for regulated entities, system driven alerts and data submission monitoring utilities. 3 the new standards for national accounts and balance of payments statistics, coordinated by the united nation's intersecretariat working group on national accounts ( iswgna ) and the international monetary fund ( imf ) committee on balance of payments statistics ( bopcom ), respectively aim to meet boarder policy analysis and monitoring needs by integrating elements of social wellbeing and environmental sustainability ; incorporating globalisation and innovation in real and financial sector operations ; incorporating digital transformation ; tracking climate change ; steadiness between stock and flows ; more detailed breakdowns ; consistency with other standards ; and developing new data sources and methods. 4 moore's law 5 kryder's law 6 rao, b. l. s. prakasa ( 2020 ).'c. r. rao :

, established by the enterprise act 2002, enforces both consumer protection and competition law, acting as the uk's economic regulator. in canada, the issue of bank service charges was the subject of a 1988 investigation conducted by the house of commons standing committee on finance. the committee report set out a number of recommendations, which have subsequently been reflected in market practice. the committee ’ s recommendations resulted in improved disclosure of service charges and the designation of office of the superintendent of financial institutions ( osfi ) for handling and reporting on service charge complaints. in the us, organisations such as consumers ’ union are fighting to create legislation that will help protect vulnerable consumers from price gouging on checking accounts. they are demanding lifeline banking legislation that will give consumers access to basic banking services. several american states have implemented legislation for minimum no - frills banking services. bank negara malaysia initiated a nation - wide survey in 2003 to assess the requirements, expectations and the satisfaction level of consumers on the quality of products and services offered by the banking institutions. the quality of interface with bank staff and the efficiency of delivery channels were identified as the key factors that customers look for in their banking relationship. secondary requirements represented potential leverage factors such as product innovativeness with value - added features, which can be used to substantially improve overall customer relationship. the central bank of philippines initiated significant measures geared towards protecting both the industry and the public. in 2002, regulations were issued which tightened the rules on credit card and other lending operations by requiring the banks and their subsidiary credit card companies to ascertain that the cardholders were capable of fulfilling their commitments and setting credit limits based on their net take - home pay. a consumer education committee was subsequently constituted to help improve basic financial literacy. credit card issues : recent measures credit card related payments and charges have been one of the most contentious issues in the recent past. late payment charges levied by the banks on credit cards have attracted attention worldwide. recently, the office of fair trade ( oft ) in the u. k. undertook a review of prevailing conditions in the uk. the oft study revealed that the credit card issuers charged consumers excessively for late payment. the oft came to the conclusion that the default charge should not exceed reasonable preestimated administrative cost. in their opinion, such cost should include the cost of postage, stationery, proportionate additional staff, maintenance of premises, etc. on this basis, oft arrived at the conclusion that any charge exceeding the