a bank by abusing the swift messaging system which thankfully could be salvaged post event without any apparent monetary loss. we also continue to receive information on several other cyber incidents - be it ransomware attack, atm / debit card incident or unauthorised access to bank servers. phishing / vishing also continue to haunt bank customers with such attacks becoming more and more sophisticated. 3. technology adoption by banks and other financial entities has increased manifold in the recent years and today if a bank is not present in the digital world it would be well - nigh impossible for it to compete in the market. as technology evolves from being an enabler and differentiator to being at the core of the banks ’ operations, associated issues of security need to be addressed comprehensively. 4. post withdrawal of legal tender character of ₹ 500 and ₹ 1000 bank notes, there has been a phenomenal push towards digital mode of payment across the country. aadhaar enabled payment systems are gaining currency and the recent launch of ‘ bhim ’ app for facilitating payments is another welcome move. while increasing adoption of digital payment technology would bring in several benefits to the economy, we need to be conscious of security aspects as well. given this backdrop, let us look at some of the developments internationally. 5. in october 2016, g - 7 countries came out with what is called as ‘ fundamental elements of 1 / 5 bis central bankers'speeches cyber security for the financial sector ’, which covers cybersecurity strategy and framework, governance, risk and control assessment, monitoring, response, recovery, information sharing and continuous learning as key elements. the committee on payments and market infrastructures ( cpmi ), bis and the international organization of securities commissions ( iosco ) have issued guidance on cyber resilience for financial market infrastructures ( fmis ) which also emphasises on the importance for authorities to cooperate to support broader financial stability objectives. the bank of england ( boe ) has implemented “ cbest ”, a new framework for testing cyber security vulnerabilities, particularly in respect of core financial sector entities. hong kong monetary authority has announced the launch of a “ cybersecurity fortification initiative ” ( cfi ), a comprehensive initiative aiming to raise the level of cybersecurity of banks. 6. closer home, rbi issued a circular on cyber security framework in banks on june 2, 2016 mandating cyber security preparedness. a specialised cell ( c - site ) has been created

of national income estimation in the post - independence period. in 1949, the government of india formed the national income committee ( nic ) under the chairmanship of p. c. mahalanobis, with v. k. r. v. rao and d. r. gadgil as members. from then onwards the national income estimation has been steadily strengthened. nic recommended the holding of an annual conference on national income and wealth. the first indian conference on research in national income was organised by the central statistical organisation ( cso ) in early 1957. in 1964, this conference was converted into the indian association for research in national income and wealth ( iarniw ). dr. v. k. r. v rao was the first president of iarniw. he is credited with the building of iarniw as an independent research body under the aegis of the central statistical organization. in order to improve the quality and fill up the gaps in statistical information, it was decided to establish a national sample survey organisation ( nsso ). this organization had four pisions : survey design and research, field operations, data processing, and economic analysis. the national sample survey ( nss ) is the largest multi - purpose socio - economic survey. the coverage and scope of data collection and dissemination of cso has increased manifold in recent times. its current activities include national income accounting, conduct of annual survey of industries, economic censuses and its follow up surveys, compilation of index of industrial production, as well as consumer price indices for urban non - manual employees, human development statistics, gender statistics, imparting training in official statistics, five year plan work relating to development of statistics in the states and union territories ; dissemination of statistical information, work relating to trade, energy, construction, and environment statistics, revision of national industrial classification, etc. the national statistical commission ( nsc ) set up by the government in january 2000 under the chairmanship of dr. c. rangarajan reviewed the statistical system and the entire gamut of official statistics in the country. core functions of nsc, inter alia, include identification the core statistics which are of national importance and are critical to the development of the economy, to evolve national policies and priorities relating to the statistical system and to evolve standard statistical concepts, definitions, classifications and methodologies in different areas in statistics and lay down national quality standards on core statistics. one of the key recommendations of this commission was to establish a permanent national commission