National Digital Nagrik Forum: It is an online platform that aims to advance the rights of traders and consumers and other sections of society, and shape policy to boost the digital trade economy. Objective is to shape policy discourse around digital economy trade in India with a view to contributing to the Government of India’s vision of creating a trillion-dollar digital economy while maintaining an open, safe, trusted and accountable internet ecosystem.
It will focus on five core themes. The first pillar consists of consumer protection and online safety with a core focus on efficient grievance redressal. The pitfalls of digital cartelization and how a level-playing field is necessary to discourage discriminatory and anti-competitive practices in the online world are part of the second pillar. Third, the potential of Indian digital technologies to not only transform retail and industrial trade but also boost employment and expand the investment footprint. Fourth, a first principles-based taxation policy that encourages certainty and productivity, especially for sectors with high growth potential, while preventing illegal activities such as tax evasion and money laundering. Finally, the forum will study emerging technologies, such as blockchain and artificial intelligence, to assess their impact on retail trade and, at the same time, safeguard consumers’ interests.
ULLAS Initiative: The Understanding Lifelong Learning for All in Society (ULLAS) initiative is poised to revolutionize education and literacy across the nation. It is done by fostering a learning ecosystem that reaches every individual, bridging the gaps in basic literacy and critical life skills. It imparts basic education, digital and financial literacy and critical life skills to citizens aged 15 and above who lost on the opportunity to go to school. It is being implemented through volunteerism. It will serve as a digital gateway for learners to engage in diverse learning resources through the DIKSHA portal of NCERT. The ULLAS app can be used for registration of learners and volunteers either through self-registration or by surveyors.
National Cooperative Consumers Federation of India (NCCF): It was established on 16th October 1965 to function as the apex body of consumer cooperatives in the country.
It is an organization to promote consumer cooperative movement in the country, aspires to facilitate the voluntary formation and democratic functioning of cooperatives, based on self-reliance and mutual aid for overall economic betterment and financial autonomy.
It is registered under the Multi-State Co-operative Societies Act, 2002.NCCF functions under the Ministry of Consumer Affairs, Food and Public Distribution.
Headquarters: New Delhi. The management of NCCF vests in the Board of Directors. The ultimate authority of NCCF vests in the hands of the General Body.Board of Directors exercises all the powers of NCCF except those reserved for General Body.
Derivative: A derivative is a contract between two parties which derives its value/price from an underlying asset. The commonly used assets are stocks, bonds, currencies, commodities and market indices. These instruments allow investors and traders to speculate on the price movements of the underlying asset without owning it directly. The value of the underlying assets keeps changing according to market conditions. The basic principle behind entering into derivative contracts is to earn profits by speculating on the value of the underlying asset in future. Derivatives serve various purposes, including hedging against risks, providing leverage, and facilitating price discovery.