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Page 2 - டிஜிட்டல் பொருளாதாரம் ஜேன் ஹியூம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Bragg committee to probe major bank debanking of fintech start-ups

Bragg committee to probe major bank ‘debanking’ of fintech start-ups Save Share A Senate committee examining financial technology policy will investigate whether major banks are obstructing access to the real-time payments system, during the final leg of an inquiry that will also formulate a policy around digital assets. Liberal senator Andrew Bragg said “debanking” is a “major concern” for fintech start-ups seeking access to the New Payments Platform, which the banks built under guidance from the Reserve Bank of Australia. Andrew Bragg: “The policy issues which are driving instances of debanking are for Canberra to solve.”  Dominic Lorrimer As it relates to “access to payment infrastructure, we cannot have these entities being effectively shadow banned by financial institutions merely because they pose a competitive threat,” he said in a speech on Wednesday night.

Budget 2021: $1 2 Billion Into Australia s Digital Future

Budget 2021: $1.2 Billion Into Australia’s Digital Future The Australian government has announced it will be spending $1.2 billion (US$930 million) to help grow the nation into a leading digital economy by 2030 as part of the upcoming federal budget. “Every business in Australia is now a digital business,” Prime Minister Scott Morrison said. “This transformation is not merely a national one that needs to happen it’s a global one that is happening.” “We must keep our foot on the digital accelerator to secure our economic recovery from COVID-19.” The measures include $100 million in digital upskilling programs, $124 million for Artificial Intelligence initiatives, a 30 percent tax offset for the game development market, and strengthening of cyber security.

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