The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
'Given China's past behaviour and their territorial claims, should we be sceptical regarding China's willingness to adhere to these agreements fully? The answer is yes.' 'As Ronald Reagan famously said in the context of the SALT talks, 'Trust, but verify!' India should also do the same.' 'This has already begun with foot patrolling, drones, satellite imagery and so on. India's military deployment did mirror China's and will continue to do so in the future.'
Senior bankers point out that while they will eventually attract qualified professionals, onboarding them takes time.
'This is the first case in which we saw use of Starlink by smugglers.'
Essentially there is no change in the US policy on the security aid to Pakistan which is currently under freeze.
The government has approved the construction of two indigenously designed nuclear attack submarines and is expected to ink contracts next month to procure 26 naval variant of Rafale jets and three Scorpene submarines, Navy Chief Admiral Dinesh Tripathi said on Monday.
The top court said since the remit of the panel has been expanded, the committee would submit its report by September 30 on various measures to rectify deficiencies in the examination system.
Amid a row over irregularities in competitive exams National Eligibility cum Entrance Test (NEET) and National Eligibility Test (NET), the education ministry on Saturday notified a seven-member panel headed by former Indian Space Research Organisation (ISRO) chief K Radhakrishnan to ensure transparent, smooth and fair conduct of examinations through the National Testing Agency (NTA).
The government on Wednesday admitted in the Lok Sabha that Pakistan had clandestinely acquired know-how on nuclear weapons technology. In a written reply, External Affairs Minister Pranab Mukherjee said New Delhi has consistently shared its concerns regarding the adverse effects of such developments on India's security with the international community.
'We condemn recent illicit missile launches in the region that violate UN Security Council resolutions. We express serious concern over recent dangerous and aggressive actions in the maritime domain. We seek a region where no country dominates and no country is dominated one where all countries are free from coercion, and can exercise their agency to determine their futures,' the declaration said.
As the Union government explores ways to restrict import of laptops and other electronic devices starting with a 5 per cent reduction from the current level, it is working to ensure that there's no supply disruption in India even if an import cap is introduced, it is learnt. The caveat assumes significance in the context of the government's announcement of its plan in August 2023 to issue licences for import of select IT hardware products to reduce the country's dependence on China.
The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
The blast at The Rameshwaram Caf has caused distress and concern among the startup and information technology (IT) community, raising questions related to safety and security. Approximately 10 people were reportedly injured in a low-intensity bomb blast at The Rameshwaram Caf, a popular restaurant in Bengaluru's Brookfield. The surrounding area is a major hub for the Indian technology (tech) industry, housing many startups and top IT companies such as IBM, SAP, Accenture, International Tech Park Bangalore, and Prestige Technostar.
Prime Minister Narendra Modi has said that the Quad is not against anyone, but for a rules-based international order and respect for sovereignty, in a veiled reference to China.
'Even for operational buildings, we are looking to smarten them in various ways.'
"Indian travellers would be aware of recent disturbances in some parts of the United Kingdom. The High Commission of India in London is closely monitoring the situation," reads the message entitled 'Advisory for Indian Citizens Visiting the UK.'
Stock exchanges have intensified vigil on Small and Medium Enterprise (SME) listings by mandating more comprehensive financial disclosures and enhanced monitoring of utilisation of issue proceeds from investment bankers, amid rising instances of dubious practices. Bourses - responsible for vetting initial public offering (IPO) documents and granting approvals to SMEs - have tightened norms in recent weeks with further measures planned for new filings to safeguard investor interests, sources said.
Tech giant Microsoft has unveiled a blueprint for India on artificial intelligence (AI) governance, and proposed a regulatory architecture to oversee safety protocols, according to a whitepaper released on Thursday. The whitepaper titled "Governing AI: A Blueprint for India" comes amid Microsoft raising its stakes in its artificial intelligence tool ChatGPT. The proposed AI regulatory architecture includes regulations prescribing safety and security requirements, then license deployment for permitted uses in a licensed Al data centre with post-deployment safety and security monitoring and protection.
'The focus of the legislation will be to minimise user harm and increase the accountability of platforms, while also promoting innovation.'
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
The Centre is considering a proposal on increasing coverage under the Ayushman Bharat scheme to Rs 10 lakh from the current Rs 5 lakh.
Leading broadcaster Zee Entertainment on Monday said it is planning to raise funds from the market through various routes, including issuing of equity of shares, and qualified institutions placements (QIPs). Though the company has not specified the amount it plans to raise, Zee Entertainment Enterprise Ltd (ZEEL) in a regulatory filing said its board is meeting on June 6 to consider the proposal for this.
The Securities and Exchange Board of India (Sebi) has proposed sweeping changes to the rights issue framework to enhance its attractiveness, aiming to make it the preferred route for additional fundraising by listed companies. Among the changes proposed by the market regulator are reducing the timeline to first 20 days and then to just three days, allowing shareholders to renounce their rights entitlement to investors of their choice, and eliminating the requirement to appoint an investment banker or file a draft letter of offer.
Indian companies are generating more cash than ever. The net cash flow from listed firms' operations hit a new high of Rs 11.1 trillion in financial year 2023-24 (FY24), crossing the Rs 10-trillion mark for the first time, according to the Centre for Monitoring Indian Economy (CMIE) data going back to 1990-91. The FY24 figure represents a 19.3 per cent jump over the previous year, even as quite a few companies are yet to release their numbers.
'The biggest near-term risk to Indian equities is the outflow of investments to China as tactical trades by foreign investors.'
Delhi police commissioner Rakesh Asthana on Sunday said over 27,000 police personnel have been deployed for Republic Day security duties in the national capital and anti-terror measures intensified.
The top cop of the state said despite the verdict coming out last week every district is on a "high state of preparedness" and no untoward incident has been reported so far.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
'Candidates will receive hands-on training in drone piloting, maintenance, data analysis, and regulatory compliance.'
'I gave enough evidence and proof to punish corrupt officials.' 'But my own government has not filed any FIR against such officials.'
If a citizen chooses not to use Aadhaar as the default unique identity, then other unique identity proofs masked and linked to Aadhaar would be used.
The recent drone scare at London's Gatwick airport has exposed the lack of preparedness against drones, says Pranjal Sharma.
Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
Steps taken to prevent misuse of the platform have to be balanced with data privacy and security concerns, say experts.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
While the telecom ministry and cellular operators are trying to hammer out differences over the issue, the security agencies have submitted a report to the Union home ministry about the abuse of the new technology by some terrorists modules and hawala operators. The sources said government has already asked telecom companies to make possible monitoring of content transmitted through Blackberry or stop the service as it was causing a major security breach.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
He also said that terrorists are constantly finding new ways to carry out violence, radicalise youth and raise financial resources and the darknet is being used by terrorists to spread radical content and conceal their identities.
Often during the day or night, there is intermittent firing where these groups are taking shots at these quadcopters, available freely in the market, the officials said.
