The Ministry of Finance has proposed a draft bill to ban unregulated lending practices, particularly targeting digital lending platforms. Amongst various provisions, it authorises police to conduct warrantless searches, seize assets, and freeze accounts tied to illegal activities. Penalties include signif...
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jointly launchedan international advisory body for submarine cable resilience. The body will work towards promoting practices that improve cable resilience, reduce risks of damage, and ensure swift repair and deployment. The committee will be comprised of 40 members from around the world—including mini...
Penalties include significant fines and prison sentences. The bill also creates a central database of legitimate lenders that will enable public verification and reporting of illegal practices. The draft bill comes after a multitude of reports and increasing regulatory scrutiny about predatory digital len...
“The retail eRupee pilot began in December 2022 and there has been very little public announcement with respect to it. RBI Deputy Governor Rabi Sarkar reportedly spoke about it in a closed-door IBA meeting – and in June 2023, banks were asked to expand the scope of the pilot and leading...
clear, proactive legal frameworks for AI, with a focus on mitigating harm in high-risk sectors like healthcare and defense, while allowing flexibility in low-risk applications. Early regulation was seen as essential to prevent monopolistic markets and promote fair competition, without hampering ...
ET reports that the company could have also applied for a licence to the central bank and it could already be under consideration. This though could not be verified as RBI is yet to release the names of the entities which NBFC P2P category and is said to have received multiple applications...