Page 2 - Regulations

Skilled labour, simplification of regulations to propel services: Survey

According to the Economic Survey 2024-25, its share in total GVA at current prices has risen from 50.6 per cent in FY14 to around 55 per cent in FY25

Economic Survey: Independent agency mooted to assess financial regulations

May be tasked with providing an impartial, objective assessment of regulatory processes and outcomes

Deregulate to grow: Eco Survey says India needs Ease of Doing Business 2.0

The Economic Survey 2024-25 highlights the need for deregulation to enhance investment efficiency, reduce compliance burdens, and support MSMEs, industrial competitiveness, and job creation

Strengthening regulatory bodies: Key reforms for efficiency, accountability

This column is not focused on analysing the performance of regulators, but rather on examining certain broad core issues that need to be addressed

RBI lifts lending restrictions from JM Financial's non-banking unit

JM Financial's non-banking unit can now immediately offer loans against shares and debentures, according to a brief statement from the financial services group

India, EU regulators in negotiations as October deadline on oversight looms

The Reserve Bank of India denied European Securities and Markets Authority's request to co-supervise Indian transactions, citing concerns over "extra-territorial reach"

Sebi bars Seacoast Shipping promoters, orders impounding of Rs 84 cr

The market regulator has directed Shah and six others to impound the illegal gains amounting to over Rs 84 crore and barred Seacoast from raising any money from the public

Govt to release fresh broadcasting Bill draft after detailed consultations

The government is likely to reconsider the contentious provisions of the Broadcasting Services Regulation Bill that had raised concerns among online content creators as it sought to club them with OTT or digital news broadcasters. The Bill was released for consultations in November last year and a fresh draft was circulated among select stakeholders for their views. An official said that the government may be open to reviewing certain clauses of the Bill as it had drawn sharp reactions from a section of media representatives. Addressing a press conference here last week, representatives of DigiPub News India Foundation, an organisation representing more than 90 digital news publishers, and the Editors Guild of India said the Ministry of Information and Broadcasting held closed-door consultations with selective stakeholders and larger discussions with digital media organisations and associations of civil society have so far not taken place. They had written to the Ministry seeking .

Sebi proposes measures to curb speculative trading in index derivatives

Sebi also proposed weekly options contracts to be provided on a single benchmark index of an exchange and brokerages to collect option premiums on an upfront basis from their clients

PwC names in-house executive as its new China head amid regulatory scrutiny

PwC said in a statement to Reuters on Wednesday that Shanghai-based Li assumed the role of chairman of PwC China and Asia Pacific with effect from July 1

Raft of exemptions for government companies covers Sebi, MCA, CCI

The rules surrounding MPS requirements have differed for PSUs compared to their private sector counterparts

A case for making RBI regulations plain, simple

Plain language in communication will help customers of financial services to become aware of their rights. It will make information accessible and help the RBI's work

GenAI new, balance must be struck between innovation, regulation: Vaishnaw

Generative AI is a relatively new phenomenon, and a fine balance must be struck between innovation and regulation to safeguard social structures and ensure progress, Union Minister for Electronics and IT Ashwini Vaishnaw said on Wednesday. Speaking at a seminar by Women Journalist Welfare Trust, the minister said while technology and AI are making lives easier with transformative powers, if left without safeguards they also pose a downside risk to age-old established structures, and hence a new set of regulations and legislations are required. "There is a very risky side, which is affecting our society, democracy, and many of the social structures that were meticulously built over decades and centuries. Many of the institutions that were meant to protect society and make sure that we all live in a harmonious way are under attack," he said. The minister said despite existing in the industrial world for three decades, AI as a generative AI, that can be used by a normal user, is a new

How self-regulatory organisations may set their relationship with Mint Road

The risk is that there could be a multiplicity of SROs, leading to pull and push pressures

DGCA asks Vistara to provide information about flight cancellations, delays

Airline asked to comply with regulations on assisting passengers affected due to cancellations or delays

Recently notified regulations applicable to cases under probe: CCI chief

The recently notified competition regulations on settlement, commitment, leniency plus and global turnover will be applicable to cases that are under investigation by the Competition Commission, according to the watchdog's chief Ravneet Kaur. In an interview with PTI, she also said the new regulations related to settlement and commitment framework will help in providing quick market correction. Last year, Parliament cleared various amendments to the Competition Act, and in recent times, the Competition Commission of India (CCI) has notified the regulations pertaining to the changes. After carrying out detailed public consultations, the watchdog has notified the regulations related to settlement, commitment, leniency plus, and turnover. About the leniency plus regime, the CCI Chairperson said it will act as an incentive for an entity to provide details about the existence of a cartel and stressed the importance of getting information about cartelisation to establish the existence of

Advertising body ties up with CCPA to tighten regulation on misleading ads

The Advertising Standards Council of India (ASCI) on Tuesday announced a tie-up with the Central Consumer Protection Authority (CCPA) to strengthen regulation around misleading ads. The CCPA has requested ASCI to forward any advertisement that is non-compliant with the ASCI Code and could potentially violate the Consumer Protection Act, 2019, along with its accompanying guidelines, to the CCPA for appropriate action, a statement said. "With similar objectives, CCPA and ASCI can work in complementary ways to ensure that any infringements are addressed effectively. New challenges are being created by digital advertising, and keeping pace demands a collaborative approach with like-minded bodies," Department of Consumer Affairs secretary Rohit Kumar Singh said. "Regulators working closely with self-regulators is an established best practice, and we hope that with this partnership, regulation of Indian advertising keeps getting more effective," he added. Singh said that in case of repea

Irdai notifies series of regulations, tweaks rules on surrender charges

Insurance regulator IRDAI has notified a host of regulations, including on surrender charges wherein insurers have to disclose such charges upfront. IRDAI (Insurance Products) Regulations, 2024 merge six regulations into a unified framework aimed at enabling insurers to swiftly respond to evolving market demands, enhancing the ease of conducting business, and boosting insurance penetration. These regulations promote good governance in product design and pricing, including strengthening the principles governing guaranteed surrender value & special surrender value along with disclosures thereof, IRDAI said in a statement. It also ensures that the insurers adopt sound management practices for effective oversight and due diligence, it said. These regulations, which will be effective April 1, 2024, stipulate that the surrender value is expected to remain the same or even lower if policies are surrendered within three years of the purchase. For policies that have been surrendered from .

Robust regulations must to check digitalisation risks: RBI dy guv

Robust regulatory frameworks are needed to protect customers from misuse and fraud resulting from rapid digitalisation in financial services and proliferation of fintech platforms, RBI deputy governor Swaminathan J said while speaking at an event in Paris. Addressing the Global Money Week 2024 earlier this week, the deputy governor said the COVID-19 pandemic accelerated digitalisation in financial services, prompting a swift transition to online mode by service providers and customers, according to an RBI statement. Accompanying this surge in digitalisation was also the proliferation of fintech platforms, he said. Often operating outside the regulatory envelope and unconstrained by legacy systems that typically encumber traditional banks, fintech companies exhibit remarkable agility and adaptability in offering customised financial products, Swaminathan added. "These developments are indeed welcome. However, while they offer immense benefits such as accessibility and ...

RBI issues requirements for SRO recognition, sets minimum benchmark

The Reserve Bank on Thursday issued an omnibus framework for recognising Self-Regulatory Organisations (SROs) for its regulated entities, under which SROs would be required to establish minimum benchmarks for their members. The RBI said SROs enhance the effectiveness of regulations by drawing upon the technical expertise of practitioners and also aid in framing/ fine-tuning regulatory policies by providing inputs on technical and practical aspects. With the growth of regulated entities (REs) in terms of number as well as scale of operations, increase in adoption of innovative technologies and enhanced customer outreach, the RBI had felt the need to develop better industry standards for self-regulation. The framework said, SROs will be expected to operate with credibility, objectivity and responsibility under the oversight of the regulator, with the objective to improve regulatory compliance. In general, SROs are expected to adhere to a set of overarching objectives for betterment o