Page 4 - Regulations

After drive against spurious drugs, DCGI collating data on pharma plants

The DCGI, in a letter dated September 4, has instructed state drug controllers to obtain the details from the firms under their jurisdiction

Discussions on global framework to regulate crypto underway: FM Sitharaman

Sitharaman added that cryptocurrencies can not be regulated efficiently without the cooperation of all countries

UAE creates federal authority for commercial gaming as casinos flock nation

Casinos long have been rumoured to be considered as a way to raise money in the UAE and boost its tourism industry, particularly in Dubai, home to the long-haul airline Emirates

SC proposes to strengthen self-regulatory mechanism for TV news channels

The Supreme Court on Monday found fault with the existing self-regulatory mechanism to monitor TV news channels and sought the Centre's response, saying it wants to make it "more effective". Making it clear that it does not want to impose any censorship on media, a bench headed by Chief Justice D Y Chandrachud stressed on the need for having an effective self-regulatory mechanism and said some channels went "berserk" during the coverage of actor Sushant Singh Rajput's death case. The top court asked the News Broadcasters Association (NBA), which is now known as News Broadcasters and Digital Association (NBDA) and has a self-regulatory mechanism, to take inputs from the chairperson of News Broadcasting and Digital Standards Authority, Justice (retd) A K Sikri, and its former chief Justice (retd) R V Raveendran, both former Supreme Court judges. It noted that the self-regulatory mechanism can be strengthened after taking note of all existing material, including the inputs of former ap

Titan sub's implosion draws attention to deep-sea expeditions regulations

When the Titan submersible made its fateful dive into the North Atlantic on Sunday, it also plunged into the murkily regulated waters of deep-sea exploration. It's a space on the high seas where laws and conventions can be sidestepped by risk-taking entrepreneurs and the wealthy tourists who help fund their dreams. At least for now. We're at a point in submersible operations in deep water that's kind of akin to where aviation was in the early 20th century, said Salvatore Mercogliano, a history professor at Campbell University in North Carolina who focuses on maritime history and policy. Aviation was in its infancy and it took accidents for decisions to be made to be put into laws, Mercogliano said. There'll be a time when you won't think twice about getting on a submersible and going down 13,000 feet. But we're not there yet. Thursday's announcement by the U.S. Coast Guard that the Titan had imploded near the Titanic shipwreck, killing all five people on board, has drawn attention

Regulating AI

Guidelines will need to evolve over time

India could lead global conversations around AI regulation: Sam Altman

Altman said his company was delighted to see the adoption of and enthusiasm for ChatGPT in India

Govt to brief industry on US-led initiative IPEF's supply chain pillar

Government officials said there will be more rounds of stakeholder and legal consultations will take place before the text is finalised

Cough syrup exporters need to undertake testing at govt labs from June 1

Cough syrup exporters will have to undertake testing of their products at specified government laboratories from June 1 before getting permission for the outbound shipments. The direction has come after quality concerns were raised globally for cough syrups exported by Indian firms. The export of cough syrup shall be permitted to be exported subject to export samples being tested and production of certificate of analysis issued by any of the laboratories, with effect from June 1, 2023, the Directorate General of Foreign Trade (DGFT) said in a notification on Monday. The specified central government labs include Indian Pharmacopoeia Commission, regional drug testing lab (RDTL - Chandigarh), central drugs lab (CDL - Kolkata), central drug testing lab (CDTL - Chennai Hyderabad, Mumbai), RDTL (Guwahati)] and the NABL (National Accreditation Board for Testing and Calibration Laboratories) accredited drug testing labs of state governments. Explaining further, an official said that to ...

NHB asks housing finance cos to adopt early warning signals framework

Regulator for housing finance firms NHB has asked housing finance companies with asset size of over Rs 1,000 crore to adopt an early warning signals (EWS) framework to check financial frauds and also to prevent accounts from turning into non-performing assets. National Housing Bank (NHB), in a recent circular, said analysis of the frauds reported by the housing finance companies (HFCs) has revealed that the reasons behind accounts being identified as fraud accounts are seller impersonation, submission of fake income/ employment documents, submission of fake title deeds, a collusion of the builder and borrower. It has also been observed that such deficiencies are identified only when the borrower stops paying the EMIs after the disbursement of the loans, NHB said. "It has been therefore decided that an Early Warning Signals (EWS) Framework should be adopted by the HFCs so that an alert is triggered before the account turns into non-performing asset (NPA) or declared as a fraud ...

Sebi relief for large registrars on enhanced reporting requirements

Markets regulator Sebi on Monday provided relaxation of 60 days to large Registrars to an issue/ Share Transfer Agents (RTAs) from complying with the enhanced requirements pertaining to periodic reporting. Under the rules, QRTAs or qualified RTAs are required to comply with enhanced responsibilities through adoption and implementation of an internal policy framework and periodic reporting requirements. In a circular, Sebi clarified that an RTA would be categorised as QRTA if at any time during a financial year, the combined number of physical and demat folios being serviced by the RTA for listed companies exceeds 2 crore. In case of the categorisation as a QRTA, an intimation needs to be sent by the RTA within five working days to Sebi. Further, it said that an RTA will be considered as a QRTA from the date of categorisation as a QRTA and will be considered as such for the next 3 financial years, irrespective of subsequent fall in number of folios and will be liable to comply with

Sebi proposes to tighten regulations on issuance of bonus shares

The market watchdog noted that the proposed change will help mitigate the mismatch between the listed capital and issued capital of the issuer

New regulations to benefit Indian auto component manufacturers: Report

The new rules and trends are increasing the need for content per vehicle and this, in turn, is helping companies boost their revenue and profits

Indian gaming industry needs stable regulatory environment: Sameer Barde

The industry's worry is the "knee-jerk reaction" of states in regulating the industry, Barde said

Other countries should trust credibility of Indian regulations: RBI Guv Das

The India of today is different from what it was earlier and regulators of other countries should trust the credibility of Indian regulations, Reserve Bank of India Governor Shaktikanta Das said

What we know about Iran's notorious 'morality police' and how it operates

This force has been patrolling the streets of Iran since 2006, arbitrarily enforcing its strict dress code

Sebi penalises entity, directors for violating regulatory norms

Markets regulator Sebi on Tuesday imposed a penalty of Rs 50 lakh on an entity and its directors for violating the regulatory norms in the case of CapitalVia Global Research Ltd. The regulator slapped a fine of Rs 50 lakh on CapitalVia Global Research Ltd (Noticee 1) and its directors -- Kiran Ravindra Kumar Choudhary (Noticee 2), Rohit Gadia (Noticee 3) and Prem Prakash (Noticee 4). The penalty has to be paid jointly and severally. The order came after Sebi conducted an inspection of CapitalVia Global Research Ltd from April 2016 to September 2017 to verify whether CapitalVia and its directors had complied with regulatory requirements prescribed under IA (Investment Advisers) norms. Sebi had issued two orders against the company and its directors. In the first order vide dated November 2016, it directed noticees not to solicit or undertake any fresh advisory business from the date of order till further directions. In its second order, which was passed on January 2017, noticees w

Regulations not a remedy for fraud: Sebi whole time member SK Mohanty

According to a survey, 47 per cent respondents considered lack of visibility over third parties as the biggest concern to bribery and corruption

Crypto weekly wrap: Tokens recover after plunging post-US inflation data

Bitcoin rose by almost 4 per cent after dropping to its lowest at $18,300 post-US inflation data was released

Why India needs a central regulatory framework for online gaming?

In September, the I-T department issued show cause notices to seven online gaming firms and about three dozen high-value players for a possible evasion of Rs 28,000 crore