Parliamentary panel to review self-reliance, modernisation of Defence Public Sector Undertakings briefing today

The Committee is chaired by BJP MP Radha Mohan Singh.

The meeting will witness a briefing by the representatives of the Ministry of Defence/DPSUs on the subject 'Review of Self-reliance and Modernisation of Defence Public Sector Undertakings (DPSUs) - Old DPSU'.

Earlier on July 2, the Parliamentary Standing Committee on Finance held an extensive review meeting with officials of the Reserve Bank of India (RBI) and representatives of the Institute of Chartered Accountants of India (ICAI) to assess the progress of India's Central Bank Digital Currency (CBDC), popularly known as the digital rupee

They also examined the broader regulatory and operational landscape surrounding virtual digital assets (VDAs).

The meeting assumes significance at a time when India is attempting to strike a balance between encouraging financial innovation and maintaining monetary and financial stability.

While the RBI has been steadily expanding pilot projects for its sovereign digital currency, privately issued cryptocurrencies and other virtual digital assets continue to pose regulatory, taxation and enforcement challenges.

The committee discussed what further policy interventions may be required to strengthen India's digital financial ecosystem while ensuring adequate safeguards for consumers, financial institutions and the broader economy.

On June 24, the Parliamentary Standing Committee on Defence heard the views of senior defence and Army officials on 'Role of Indian Army in ensuring defence of the Country'.

CDS Gen NS Raja Subramani and Army Chief Designate Lt Gen Dhiraj Seth were among the senior officials present.

The committee heard oral evidence from the representatives of the Ministry of Defence.

Sources said that officials informed the committee about various steps taken for technology adoption in line with modern requirements and the moves towards innovation.

Sources said that during the presentation, the officials also informed about the robust defence of India's borders, which cover diverse geographic domains and have specific requirements. (ANI)