Top headlines: India Inc faces stricter code, Meta cracks on surveillance

India Inc's corporate governance mettle will soon be put to the test with a stricter framework. More on top headlines this morning

A sweeping crackdown was announced by Facebook's parent company Meta on surveillance companies that the social media giant alleged snooped on people in over 100 countries. The firm also identified India's BellTrox as one of the firms carrying out “indiscriminate” surveillance targeting people. More on that in today's top headlines

India Inc to get voluntary corporate governance norms

India Inc’s corporate governance mettle will soon be put to the test with a stricter framework.

Sources said the country’s largest bourse, the National Stock Exchange (NSE), will unveil governance and disclosure norms next week that will be more stringent than what is prescribed under the Sebi (Securities and Exchange Board of India) Regulations or the Companies Act. Read more

Meta identifies six firms for spying on users

Facebook parent Meta Platforms Inc. has announced a sweeping crackdown on surveillance companies that it says have used its social media websites to spy on people in more than 100 countries.

In a report published on Thursday, Meta identified six companies from Israel, India, and North Macedonia, in addition to an unknown entity in China, which it said carried out “indiscriminate” surveillance targeting thousands of people. Read more

Govt rolls back proposals in draft power Bill

The Central government has decided to roll back several proposals introduced in the draft Electricity Bill, 2020. The Bill will no longer have a provision on abolition of electricity subsidies.

This would also impact the Centre’s commitment to introduce Direct Benefit Transfer (DBT) in the electricity sector. In the latest round of changes in the Bill, the proposal of DBT has been dropped too. Read more

Govt plans to complete 5G auctions in July

The government is looking at a time frame within the first two weeks of July to kick off and complete the upcoming 5G auctions, according to discussions between officials and stakeholders. It is expected that the Telecom Regulatory Authority of India (TRAI) will give its recommendations on the base price by March, after which the necessary cabinet clearances will be given. Read more

Personal Data Protection bill has 12 recommendations

The parliamentary joint committee on the Personal Data Protection (PDP) Bill, 2019, headed by P P Chaudhary, MP, on Thursday presented its report, recommending changes to draft legislation, including altering its name to “Data Protection Bill”. Read more