The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
The minister also cautioned the social media giant and its CEO Mark Zuckerberg of repercussions under the IT Act in case of any data breach came to light.
With Donald Trump all set to become US president, Indian exporters may face high customs duties for goods like automobiles, textiles and pharmaceuticals if the new US administration decides to pursue the 'America First' agenda, opined trade experts. Experts also said that Trump could also tighten H-1B visa rules, impacting costs and growth for Indian IT firms. Over 80 per cent of India's IT export earnings come from the US, making it vulnerable to changes in visa policies.
Responding to debate on the bill, Sports and Youth Affairs Minister Anurag Thakur said it will promote sports and protect the interest of sportspersons.
A company claims to run ads on Facebook where students are encouraged to provide their details to get help from career counsellors.
The TIME 100 AI list is an interesting assortment of titans. Indians make up about 20 per cent of the coveted list, which is pretty commendable, notes Sandeep Goyal.
India stares at the risk of an influx of Chinese products as US tariffs on a range of Chinese goods, including solar panels, electric vehicles, lithium-ion batteries, syringes, and steel, are set to take effect from September 27. With higher tariffs reducing China's access to the US market, there is concern that China may divert its exports to other markets, including India, which could lead to potential dumping of goods. This situation could challenge Indian industries, particularly in sectors where competition with Chinese products is already fierce.
First things first: For those wondering if they need to reapply, the answer is no.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
As we brace for unprecedented rates of urbanisation, it is crucial to ensure that illegal constructions and unauthorised land use are curbed, asserts Amit Kapoor.
Arora, who is Director of INCLEN Trust, said it is not possible to predict any third wave at this time.
Absence of comprehensive data protection and privacy laws will be barriers in the government's digitalisation drive.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
According to industry insiders, India has 400 million smartphones and is the world's fastest-growing app market. So the addition or deletion of apps impacts the global valuations of these platforms. "Based on calls given by various local organisations to delete Chinese Apps, there will be an impact," said Blaise Fernandes, director at foreign policy think tank Gateway House. "All of them eventually will go the IPO (initial public offering) route so there would be economic impact also."
Hearing from Apr 18 by five-judge SC bench against WhatsApp, FB move; Centre, Trai also summoned
'A lot of them are converted to other tokens, and since crypto is dealt with internationally, it can go to any exchange in any country.'
The opposition will seek to target the government on the issue of farmers' plight as well as their demand for a legal backing for minimum support price.
India is investing in developing indigenous capabilities in 5G and 6G telecom technologies besides focusing on manufacturing semi-conductors, Prime Minister Narendra Modi said on Thursday. In a virtual address at the Sydney Dialogue, the prime minister said the "greatest product" of technology today is data and that India has created a robust framework of data protection, privacy and security. "And, at the same time, we use data as a source of empowerment of people. India has unmatched experience in doing this in a democratic framework with strong guarantees of individual rights," he said.
The Indian market regulator had revamped the FPI regulations in 2014 giving custodians the mandate to collect and verify the KYC documentation of offshore investors
He said the Aadhaar programme violated informational privacy, self-determination and data protection.
India is headed for general elections early next year, and the DIA is expected to be legislated only after the 2024 polls and the formation of the government.
Capital markets regulator Sebi on Wednesday came out with a cybersecurity framework for all portfolio managers having an asset base of at least Rs 3,000 crore. The new guidelines will come into force from October 1, 2023, the Securities and Exchange Board of India (Sebi) said in a circular. Under the framework, Sebi asked portfolio managers to report all cyber-attacks and breaches experienced by them within 6 hours of detecting such incidents.
The Bombay high court has passed an ex-parte interim order restraining several entities from operating websites etc claiming to provide PAN card services on behalf of the government-owned UTI Infrastructure Technology and Services Limited (UTIITSL) and noted such an act poses a "national level threat". A single bench of Justice Bharati Dangre, in its order of January 12, said the Union government has made it mandatory for PAN card holders to link the same to their Aadhar Card, which is an acceptable proof of identification. Therefore, any potential misuse of the licence/ authorization to issue PAN cards would be highly detrimental not only to the interest of the company but also to national interest, the HC said.
While most banks in India store all this data on Indian servers in their core banking systems, the current directive addresses new-age payment and fintech companies operating in the space
India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.
Modi cautioning that cryptocurrency can spoil the youth.
In an effort to attract investors to the Social Stock Exchange (SSE), the bourses have reached out to the Securities and Exchange Board of India (Sebi) and the government with the industry's demand for additional benefits on contributions made towards social enterprises through the platform. SSE is a regulated platform to facilitate organisations working towards social causes to raise funds and have access to higher capital through the bourses. The platform is aimed at becoming a meeting ground for donors and social enterprises.
The UIDAI, set up in 2009, will manage the generation and authentication of Aadhaar numbers.
The Reserve Bank of India has issued several warnings that the public should not fall prey to such unscrupulous activities and verify the companies offering loans online and through apps.
The Supreme Court adjourned to Tuesday the hearing on a plea of the Securities and Exchange Board of India (SEBI) seeking extension of six months to complete a probe into allegations of stock price manipulation by the Adani group. The hearing on the market regulator's plea and PILs could not take place on Monday due to paucity of time and on account of scheduled hearing of certain matters before a special bench at 3 pm. A bench comprising Chief Justice D Y Chandrachud and justices P S Narasimha and J B Pardiwala on May 12 had said it would consider granting three more months to Sebi for concluding its probe into the allegations of stock price manipulation and lapses in regulatory disclosure.
The advent of artificial intelligence, blockchain technology and cryptocurrencies, and the increasing use of Internet of Things devices throw techno-legal challenges regarding privacy and security. Experts say, any expansion of power to the government to block web-services is detrimental to the interests of users, innovation, and India's larger technology ecosystem. The move to block the mobile apps is likely to have a lasting impact on the data security and privacy framework.
With thousands of people receiving ransom messages from cybercriminals every day, Devangshu Dutta explains how you can defeat the hackers.
If a bank shuts down, every account holder it has will get back their money for a maximum limit of Rs 5 lakh. It was Rs 1 lakh before.
Roles ranging from digital marketing to wealth management are some of the emerging roles, notes Sekhar Garisa, CEO, foundit, a job search app.
'United Health Interface is in line with UPI. UPI is a language of money transfer, similarly, UHI is a set of protocols, which is going to create a language of health service delivery'
'The last year's growth is a foretaste of things to come in the retail credit market.'
While noting there needed to be a balance between the two fundamental rights, the Srikrishna panel stated there was an inherent conflict. "However, disclosure of information from public authorities may lead to private harms being caused. It is thus important to recognise that, in this context, there is a conflict of fundamental rights, between transparency and privacy," the report stated.
The government is planning new regulations that may impose penalties on both the creator and the platform hosting deepfakes, as it looks to clamp down on what IT and Telecom Minister Ashwini Vaishaw described as "a threat to democracy".
Prasad said the probe by the CBI will determine whether Cambridge Analytica violated the Information Technology Act, 2000 and the Indian Penal Code.
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