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.
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.
State-owned Life Insurance Corporation (LIC) is not keen on a composite license but it is looking to buy less than 50 per cent stake in a standalone health insurance company to enter the health insurance segment such that they have a say in the management of the company, without having to run the company, sources in the know said. "LIC doesn't need a composite licence. "Even if it is introduced, they will not opt for it.
The government may not be able to put in place the Digital India Act, which aims to replace over 23 years old IT Act 2000, before the next general election, as there is not much time left for extensive consultation, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Wednesday. While speaking at the Global Technology Summit 2023, the minister, however, said the rules for the Digital Personal Data Protection Act will be out later this month for consultation and are expected to be notified by the end of December or early January. Chandrasekhar said the existing IT Act doesn't even have the word internet, and there is a consensus that it can be safely superseded and replaced.
Holding that Air India's conduct appeared to be 'unprofessional', aviation regulator Directorate General of Civil Aviation (DGCA) on Thursday issued notices to the officials and crew of the New York-Delhi flight, asking why action should not be taken against them for 'dereliction' of duty while handling the November 26 'urination' incident.
This is the second time in less than a week that the watchdog has taken enforcement action against the airline in connection with unruly passenger behaviour.
Chandrasekaran also said that "We fell short of addressing this situation the way we should have."
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".
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.
India supports dialogue and diplomacy and not war, Prime Minister Narendra Modi said at the Brazil, Russia, India, China, South Africa (BRICS) Summit in Kazan, Russia on Wednesday, in an unambiguous message calling for resolution of the Russia-Ukraine conflict through peaceful negotiations.
DAP does not consider past I-T returns to match a taxpayer's resources with their expenditures or investments, points out Harsh Roongta.
Passengers of a San Francisco-bound Air India flight faced a harrowing time due to an inordinate delay and some of them fainted as the aircraft's air-conditioning system was non-functional.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
Telecom service providers (TSPs) have begun to monitor and prevent spam calls since May 1, with the help of an artificial intelligence and machine language-based system acting on the Telecom Regulatory Authority of India's (Trai) latest directive on the matter, its officials told Business Standard. Touted as the first big technological measure against the growing menace of unsolicited commercial communications, all TSPs have confirmed to Trai that they have rolled out the AI/ML tool. The filter system works on the distributed ledger technology (DLT) platform used by TSPs, and is set to go for incremental updates, rules for which will soon be released, they added.
In a statement, an Air India spokesperson said a passenger travelling in business class was off boarded on the advice of the captain following some argument with members of the crew before the scheduled pushback.
The government asked digital platforms to provide technical and business process solutions to prevent and weed out misinformation that can potentially harm society and democracy, Union Minister Ashwini Vaishnaw has said.
Rakesh started on the backfoot with Ken pulling off a perfect first end shooting 30 out of 30, while the Indian dropped a point.
An airline official said there were 292 passengers, including 8 infants onboard the plane.
Google CEO Sundar Pichai says Gemini will eventually be integrated into Google's search engine, its ad products, the Chrome browser.
'In the next 15-20 years, India will have at least 50 new (AI-driven) billion-dollar companies that are going to solve problems for the largest companies around the world.'
Citing various aspects, the forum has appealed to the DGCA to "withdraw the harsh punishment and suspension of the PIC". it said.
"The DGCA is conducting an investigation into the matter. The Investigation team will examine the relevant facts," said a senior DGCA official.
'We want to play the value game for our consumers, which is health and retail will grow faster for us than the group.'
The octogenarian was asked to wait due to heavy demand for wheelchair.
'With free software on the Internet and apps, creating a deepfake video can take 3 to 5 minutes. Anyone can make these videos.'
Paris 2024 gearing up to face unprecedented cybersecurity threat
The Boeing 737-800 aircraft had 184 passengers onboard and all are safe, an airline spokesperson said.
Without our realisation, basic AI is already managing our personal and work lives through emails, work processes and even entertainment
This is the third instance in the last three days when the aviation regulator grounded a plane after an incident.
One looks upon the coming new year with foreboding as current wars in Ukraine and Gaza spill over and escalate and new ones erupt in incipient fault lines across the world, notes former foreign secretary Shyam Saran.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
Nikkei 225 index hit the 40,000 mark for the first time ever on Monday, continuing its bull-run that saw the index reclaim its 1989 peak of 34,000 levels in February. as global investors latched on to Japan's biggest companies on improving shareholder returns, the weaker yen and booming corporate profits. Analysts remain bullish on Japan, mostly aided by gains in technology shares. Adoption of artificial intelligence (AI), according to a note by Morgan Stanley, is likely to benefit Japanese companies, which is almost at par with the US-based companies.
"The AI865 flight on Thursday got delayed as it developed a technical snag. It had to return to the bay. Passengers started knocking on the cockpit door, asking and taunting the pilots to come out," said an airline official. "One male passenger even said that he will break open the cockpit door if the pilots didn't come out," the official said, adding the situation inside the plane "went from bad to worse".
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.
In his opening remarks at the virtual summit of Leaders of G20 countries, Modi made it clear that terrorism was "unacceptable" to everyone and the death of civilians, anywhere, was condemnable.
The Delhi Police sent multiple teams to nab the man, who had allegedly urinated on his female co-passenger on an Air India flight on November 26 last year, but he was absconding, officials said on Thursday.
Sources close to the development told Business Standard the company was exploring different ways to save on its employee costs and had laid off a few employees on "performance" grounds. "We will see a similar development for the next few months. "The company is fine-tuning its hiring policies and implement rigourous measures to look into employee performance," a source said.
With this, Italy becomes the first European country to block the advanced Artificial Intelligence software, which is capable of emulating and elaborate human conversations among other actions.
Earlier this month, Air India issued show cause notices to the Pilot-in-Command and four crew members of the flight and derostered them pending investigation.
'What can a teacher do that ChatGPT cannot?'
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