Use cases for drones are, however, immense - industrial inspections, geospatial surveys, agricultural surveys, and general surveillance and security.
The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions is mandatory for companies with turnover of over Rs 500 crore from October 1. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said e-invoicing will be extended to businesses with a turnover over Rs 100 crore from January 1.
The Delhi Police on Thursday said the statements by Twitter on the ongoing enquiry in the 'toolkit' case was mendacious and designed to impede the lawful enquiry.
The show-cause notice dated February 8 by DCGI V G Somani cited a Delhi high court order dated December 12, 2018, which prohibits online sales of medicines without a licence.
External Affairs Minister S Jaishankar on Wednesday held wide-ranging talks with his Russian counterpart Sergey Lavrov focusing on the Ukraine conflict, bilateral ties and issues relating to the G20 foreign ministers' meeting.
Demonetisation and Agniveer reveal the two mindsets India has become. In both these government schemes, one sees a desire to play the country like an orchestra anchored by conductor/conductors, argues Shyam G Menon.
Ride-hailing platform Uber on Wednesday said it is recruiting close to 250 engineers for its teams in Bengaluru and Hyderabad as it continues to expand the scope of operations for its engineering and product work in the country. The current round of hiring will strengthen the company's rider and driver growth, delivery, eats, digital payments, risk and compliance, marketplace, customer obsession, infrastructure, adtech, data, safety and finance technology teams, a statement said. These roles are currently split between the company's Hyderabad and Bengaluru tech centres, it added.
'There are already multiple lawsuits against the IT rules.' 'So questions of compliance are like rearranging deck chairs on the Titanic.'
The government on Thursday announced new rules to curb misuse of social media platforms, as it mandated firms to appoint grievance officer, disclose the first originator of the mischievous information and remove, within 24 hours, content depicting nudity or morphed pictures of women.
Google received over 27,700 complaints in April this year from individual users in India over alleged violation of local laws or personal rights, which resulted in the removal of 59,350 pieces of content, the company said in its maiden monthly transparency report.
'As long as businesses do not consider cyber recovery an integral part of their enterprise IT, they remain greatly vulnerable.'
In a bid to pitch India as an uplinking hub, the government on Tuesday announced relaxation in guidelines for compliance for television channels and also made a 30-minute daily public interest broadcast mandatory, mainly for entertainment channels.
The Department for Promotion of Industry and Internal Trade (DPIIT) will soon start public consultation for a national retail trade policy, which is likely to include an insurance scheme aimed at providing financial protection against losses caused by theft, accidents or natural calamities. The policy will also spell out ways to give traders access to low-cost finance, promote digital inclusion, and create necessary infrastructure to support them, a senior government official told Business Standard. This is expected to offer relief especially to traditional traders, who are facing stiff competition from large e-commerce players.
Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 in Parliament on February 1. The Budget is a statement of the government's estimated receipts and expenditures for a fiscal year (April 1 to March 31). It's divided into Revenue and Capital Budget. The Revenue Budget includes the government's revenue receipts and expenditures while the Capital Budget includes its capital receipts and payments.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
The total amount of fraud reported by banks showed a drop in 2020-21 - for the first time in eight years - though there is an emerging trend of private sector banks reporting a larger number of frauds related to card and internet banking. According to the latest data released by the Reserve Bank of India, commercial banks reported Rs 1.38 trillion of frauds in 2020-21, as compared to Rs 1.85 trillion in the previous year. The first half of the current fiscal year saw banks reporting frauds worth Rs 36,342 crore.
Under the rules, media companies or their associations have to form self-regulatory bodies which would be headed by a retired judge of the Supreme Court or high courts or an eminent person.
The new IT rules -- which came into effect last year -- require large digital platforms (with over 50 lakh users) to publish compliance reports every month, mentioning the details of complaints received and action taken.
In a bid to provide a level playing field, the government has decided not to levy 2 per cent digital service tax if goods and services are sold through Indian arm of foreign e-commerce players.
The government on Friday made it mandatory for social media influencers to disclose their "material" interest in endorsing products and services and violations can attract strict legal action, including ban on endorsements. The regulations are part of continuing efforts to curb misleading advertisements as well protect the interests of consumers amid the expanding social influencer market which is projected to be worth around Rs 2,800 crore by 2025. The new guidelines named 'Endorsement Know Hows -- for celebrities, influencers and virtual media influencers (Avatar or computer generated character) on social media platforms' has been issued by the Department of Consumers Affairs.
Google is committed to complying with local laws and engages constructively with governments as they scrutinise and adopt regulatory frameworks to keep pace with the fast evolving technology landscape, its CEO Sundar Pichai said on Thursday.
The highest number of URLs actioned pertained to Abuse/Harassment and IP-related Infringement (46 each), followed by Privacy Infringement (35), Impersonation (16) and Defamation (15). URLs actioned under Misinformation/Synthetic and Manipulated Media category stood at 7, and Sensitive Adult Content and Hateful Conduct (one each).
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
Meta-owned Facebook 'actioned' about 21.6 million content pieces across 13 violation categories in India during March, according to a monthly report by the social media giant.
The Indian IT industry will stage a "strong recovery" in 2021-22 with a revenue growth of up to 11 per cent, ratings agency Crisil said on Wednesday. The recovery will be led by increasing outsourcing and accelerating digital transformation services mainly in sectors such as banking, financial services and insurance (BFSI), healthcare, retail and manufacturing, it said. As per Nasscom, the IT services industry grew 2.7 per cent to $99 billion in 2020-21.
'There were two options before the government -- create a complex, cumbersome law, which will cause a tremendous amount of compliance challenges for startups or say let's go back and do a clean slate, where we do a framework of laws and policies'
Twitter received 94 grievances and 'actioned' 133 URLs between May 26 and June 25, the microblogging platform said in its maiden monthly compliance report as mandated by the IT rules.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
The News Broadcasters Association (NBA) Thursday urged the government to 'exempt and exclude' the traditional television news media and its extended presence on the digital news platforms from the ambit of the IT Rules 2021, saying it is already 'sufficiently regulated' by various statutes, laws, guidelines, codes and regulations.
Modi said the young and aspirational India understood the need for political stability to achieve faster development and had ended three decades of instability by mere touch of a button.
GST officers can now launch prosecution against offenders in cases where the amount of evasion or misuse of input tax credit is more than Rs 5 crore, the finance ministry has said. However, this monetary threshold will not be applicable in the case of habitual evaders or in cases where arrests have been made at the time of investigation. "One of the important considerations for deciding whether prosecution should be launched is the availability of adequate evidence," the GST investigation wing under the finance ministry said, while issuing instructions for launching prosecution.
In the new Parliament House, with a soft launch this Winter Session, paper is expected to disappear. For the guidance of ministers, secretaries can scribble notes on linked pads even from their offices to respond to queries from members.
'Marginal rates will definitely affect the consumer's decision in entering a new transaction, but in reality, they don't affect much because banks/financial institutions have come up with step-up EMIs: 50% of home loans which exceed 15 years in India are prepaid, within 7-8 years.' 'This doesn't happen anywhere in the world.'
The comments assume significance as social media companies are facing the deadline of May 25 to comply with the new guidelines for digital platforms.
The telecom ministry will set up an intelligence unit and a consumer protection system as part of continuing efforts to tackle the menace of pesky calls as well as to take strict action against financial frauds perpetrated using telecom resources.
Twitter said it will continue to be strictly guided by principles of transparency, a commitment to empowering every voice on the service, and protecting freedom of expression and privacy under the rule of law.
The content 'actioned' belonged to categories including bullying and harassment, violent and graphic content, adult nudity and sexual activity, child endangerment, dangerous organisations and individuals, and spam, among others.
The Department of Telecom (DoT) has slapped a penalty of Rs 2,000 crore on Vodafone Idea and Rs 1,050 crore on Bharti Airtel based on sector regulator Trai's recommendation five years ago, according to sources. The DoT has given three weeks time to the telecom operators to pay the penalty, a source said while sharing the content of the demand notice served to the companies on Thursday. When contacted Bharti Airtel spokesperson said, "We are deeply disappointed with the arbitrary and unfair demand based on Trai recommendations of 2016 relating to provisions of point of interconnect to a new operator.
Google received 31,497 complaints from users and removed 94,173 pieces of content based on those complaints in December, the tech giant said in its monthly transparency report.
The two central premier investigative agencies - Central Bureau of Investigation and Enforcement Directorate - have asked their officials to focus more on digital evidence, e-forums and social media to crack down on offenders. These are a crucial part of prosecution amid the second wave of the pandemic. The Income Tax Department is going full throttle on data analytics to issue notices in time-bound cases. Further, sleuths have been given electronic devices including laptops with secure connections, which keep data encrypted and inaccessible.
