Mergers and acquisitions would continue to create big corporate conglomerates but there is a need to draw a red line to avoid dominance and curbing of open competition in market by them, he said while addressing a conference on competition issues in New Delhi.
'Malicious files can silently sit in your phone and relay data to hackers without your knowledge.'
The government on Tuesday said it will allow setting up of world-class foreign universities in Gandhinagar's GIFT City, free from domestic regulations, to facilitate availability of skilled manpower in the financial services space. In addition, an international arbitration centre will be set up in the GIFT City for timely settlement of disputes under international jurisprudence, Finance Minister Nirmala Sitharaman said while presenting the Union Budget for 2022-23. The centre could be on the lines of the Singapore International Arbitration Centre, or the London Commercial Arbitration Centre.
Its statement also said Facebook does not use WhatsApp payments information for commercial purposes.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Tamil Nadu is the celebrated home of the 'social justice' movement in the country, yet caste differences and violence has only been increasing in numbers and becoming more brutal in recent years, observes N Sathiya Moorthy.
The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal, which is a part of the recommendations made by a working group formed by Irdai and the General Insurance Council, suggests that insurance frauds should feature when the risk profiles of individuals are evaluated and should be used to calculate their credit scores. A poor credit score can deprive a person of financial services such as loans and credit cards, and deter him from indulging in fraud.
This will be done across five cities - Delhi, Bengaluru, Coimbatore, Bhopal, and Shillong. Thereafter, it will be scaled up and launched in 100 cities over a period of six months, said a senior government official.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The prime minister, who is on a two-day visit to the state, inaugurated, laid the foundation stone of and dedicated to the nation, railway and metro projects in the state worth Rs 4,500 crore.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
Nandan Nilekani talks about moving towards a cashless economy and freedom of Internet, among others
For the first time, the value of card and mobile payments of Rs 10.57 trillion was more than ATM withdrawals of Rs 9.12 trillion in Q4 of fiscal 2019-20. In the months of lockdown, the gap may have widened further, but cash could be back in vogue when the situation normalises.
The company was awaiting clarification from the Reserve Bank of India on data storage before it took a final call on data localisation.
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
As of now, there is nothing to suggest that the 'Michaelpatti episode' has the potential to polarise Dravidian Tamil Nadu on religious lines, observes N Sathiya Moorthy.
The verdict, upholding Centre's November 15, 2019, notification bringing personal guarantors of corporate debtors under the net of the IBC, assumes significance in view of the fact that various high-profile industrialists may now face insolvency proceedings along with their debt-ridden firms under the IBC.
Delhi High Court says it can do so under the TRAI Act, rejects petitions filed by telecom associations.
The venture is applying to the Reserve Bank of India for approvals.
As all regulators are part of it, individuals don't need to worry about approaching the right authority
Top officials in key ministries, including finance and IT, are of the opinion that a sensitive payments system such as UPI should not be on a platform whose security is possibly compromised.
Under the 20.68 km-long monorail project, services will be provided between Poonamalle and Kathipara with a link from Porur to Vadapalani in Chennai, a senior UD Ministry official said.
An advocate of diversity, she is a South African lawyer turned model.
Trai said the reports that compensation was not feasible were based on wrong inputs.
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
The 16-digit randomly generated number by the Aadhaar system was supposed to be introduced by the UIDAI on March 1 and mandatorily deployed by companies using Aadhaar by June 1.
India will need an annual investment of Rs 15 trillion in infrastructure over the next five years, says Chandrajit Banerjee, DG, CII.
Olympic officials have showered praise on South Korea's Winter Games organisers for staging a successful event against the odds, but they have also left it with a warning: don't leave any white elephants behind.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
Thinking big, China is changing the world order; with mixed priorities, we can but tag along, writes T J S George.
The markets regulator made it easier for banks to acquire control in listed companies.
Trai calls both Jio and incumbents for a meeting to discuss the issue
The underlying tone of a call for separate Mumbai city is always seen as a class war and a linguistic war, says Neeta Kolhatkar
Discussions are on in government about how to make the process simpler for the poor and more cost-effective for telecom operators, says Subhomoy Bhattacharjee.
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Banking as we know it will stand on its head in the next 10 years.
2015 is set for a lot of changes - and some that we would like to happen
'The strategy has to be restoring order in one part and countering the very effective propaganda through a very nimble monitoring and response system,' says Lieutenant General Syed Ata Hasnain, who retired as the General Officer Commanding of the Srinagar-based 15 Corps.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
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