The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
There would be a gap in legislation to be caused by proposed winding up of MRTPC with respect to unfair trade practices. The gap can be filled in be establishing NCPA through enactment of National Consumer Protection Authority Act, the document said. The MRTPC, which has been looking into various unfair trade practices would be wound up to make way for Competition Commission, which is likely to be fully operational by the end of next year.
Each dept could handle a designated area.
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI), has never minced words while talking about the giant technology companies, referring to them on multiple occasions as "centres for entrenched and unchecked dominance". The anti-trust regulator has, in fact, been cracking down on big technology companies such as Google, Apple, Facebook, and others, after they were hauled up by regulators and lawmakers in Europe and Australia. However, in several instances, existing regulations have prevented the CCI from going all out against these companies for anti-competitive activities.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
Uber Technologies said it is doing a fresh round of recruitment for its India tech centres and is planning to hire 500 more tech employees by December. The app-based mobility and delivery company has a 1,000-member tech team across its centres in Hyderabad and Bengaluru. The firm said the hiring plan is a testament to Uber's commitment to India, and its recognition of the engineering talent in the country. Uber hired 250 engineers to its India teams in 2021.
MeitY had stated there was a need to set up GACs as grievance officers hired by the platforms often did not address issues satisfactorily.
The new regulatory body would be called the Civil Aviation Authority and would replace the Directorate General of Civil Aviation.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
Draft guidelines for Small Banks and Payments Banks were issued by the RBI in July and comments were invited till August 28.
The government will come out with proposed modalities and terms of references for setting up grievance appellate committees to address social media users' complaints in the next 10-12 days, and expects the panel to be in place by November 30, Union Minister Rajeev Chandrasekhar said on Tuesday.
Even if it wants to censor what you read, watch, or consume, the amount of content online is so huge that it is physically impossible for any government to do it, notes Vanita Kohli-Khandekar.
Former chairman of the UIDAI Nandan Nilekani, elucidates how Aadhaar could become the spine for alternative banking and could replace government services with cash benefits.
'Passengers of the Jet Airways flight will be entitled for compensation for discomfort and trauma, but it may not be Rs 2 million in this incident.'
His visit to India followed a few cancelled plans since he took office in July 2019 due to the coronavirus pandemic crisis, with the two leaders holding several virtual talks and eventually meeting in person on the sidelines of the COP26 climate summit in Glasgow last November.
The recent default on deposit payments by a couple of Yash Birla Group companies has brought to surface difficulties an investor has to face in recovering his money.
All costs relating to room, boarding, nursing expenses, medical consultation including telemedicine, consumables such as PPE kits and intensive care unit will be covered under the policy. It will also include the cost of treatment for any other co-morbidities, including pre-existing comorbid conditions along with the treatment for Covid-19.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
Consumers have to watch out for four marks on hallmarked gold jewellery: BIS mark, purity in carat, assay centre's name and jewellers' identification mark.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
Regulator's to-do list includes guidelines on traceability mechanism, food recall portal.
The roots of the cancellation of 2G telecom spectrum licences and coal blocks lie in two non-profit organisations - Common Cause and CPIL.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present.
The proposed policy is increasingly becoming an item of negotiation, as the US pushes hard to change India's stance.
The Financial Sector Legislative Reforms Commission had in a report last year proposed a unified regulator for the entire financial sector -- markets, insurance, commodities and pension. It had, however, proposed to keep banking out of its purview for now.
Gail India has protested Petroleum Minister Mani Shankar Aiyar's plans to open up laying of natural gas pipelines to the private sector, saying competition cannot protect consumer interest.
The next step is the charter, which aims to safeguard consumer rights and address criticism about the government not doing enough for passengers.
The finance ministry has put out a revised draft in public domain.
There will be uncertainty about outcomes,but one must hope for the best, observes T N Ninan.
TRAI said that Internet service providers would not be allowed to discriminate on pricing of data access for different web services.
The fifth round of talks was held on December 5, while the sixth round originally scheduled for December 9 was called off after an informal meeting of Home Minister Shah with some union leaders failed to reach any breakthrough.
NTPC to be the worst hit, stock slides to five-year low on announcement.
Are we running a cricket match using football rules, asks Ajit Balakrishnan.
With the ongoing Parliament session -- the last for this Lok Sabha, witnessing continued turmoil, there are indications that the legislation would be tabled in the Rajya Sabha so as to keep it alive for the new House to take it up.
The South African government and large pharmaceutical companies are in combat mode regarding the proposed national policy on intellectual property that hopes to improve access to medicines for the poorer sections of the population.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
The government has the upper hand in the ongoing negotiations, and it is unclear if a real debate will happen, observes Tulika Narayan.
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