The warning coincides with mounting pressure from Germany and...
Category:
Regulation
Latest
New law in the works for safe, orderly migration
Underlining the need to spread awareness about safe migration, the...
Corporate ‘Irritation’ over ESG fueled by significant costs
There’s evidence to suggest that fund managers devoting lots of...
FACTBOX-How Big Tech is faring against U.S. lawsuits and probes
The U.S. Justice Department sued Google in October, accusing the $1 trillion company of illegally using its market muscle to hobble rivals. A trial date was set for Sept. 12, 2023. A lawsuit by 38 U.S. states and territories accuses Google of abusing its market power to try to make its search engine as dominant inside cars, TVs and speakers as it is in phones. This was consolidated with the federal lawsuit for purposes of discovery.
Assam private hospitals directed no COVID-19 patient be refused admission for having health insurance
The Health and Family Welfare Department said that it has received reports of some private hospitals refusing admission to COVID-19 patients despite having medical insurance.It referred to an order by the Insurance Regulatory and Development Authority of India (IRDA) in March last year that removed all hurdles in the policies and had directed that the cases should be handled expeditiously.
India bans Mastercard from issuing new cards in data storage row
In a notification, the RBI said Mastercard had not complied with data storage rules from 2018 that require foreign card networks to store Indian payments data “only in India” so the regulator can have “unfettered supervisory access”.
India accounted for highest number of govt requests for account info in Jul-Dec 2020: Twitter
India also ranked second in terms of volume of legal demands for content removal, after Japan, Twitter — which has an estimated 1.75 crore users in India — recently appointed a Resident Grievance Officer, days after it designated a Chief Compliance Officer, and also released its first India Transparency Report on Sunday to comply with the new IT rules.
China tightens control over cybersecurity in data crackdown
Beijing is increasingly sensitive about control over information about its people and economy. Companies are barred from storing data about Chinese customers outside China. Companies including ride-hailing service Didi Global Inc, which recently made its US stock market debut, have been publicly warned to tighten data security.
Under the new rules, anyone in China who finds a vulnerability must tell the government, which will decide what repairs to make. No information can be given to “overseas organisations or individuals” other than the product’s manufacturer.
Bank employees working in sensitive positions to get surprise leaves of at least 10 days
In a communication to lenders, including rural development banks and cooperative banks, the RBI asked them to put in place a ‘mandatory leave’ policy as part of the prudent risk management measure.
During the mandatory leave, the bank employee will not have access to any physical or virtual resources related to the work responsibilities, with the exception of internal/ corporate email which is usually available to all employees for general purposes.
UP Population Bill draft denies government jobs, subsidy If more than 2 children
Listing incentives for public servants who adopt the two-child norm, the draft bill says, “Public servants who adopt the two-child norm will get two additional increments during the entire service, maternity or as the case may be, paternity leave of 12 months, with full salary and allowances and three per cent increase in the employer’s contribution fund under national pension scheme.”
Don’t want Tom, Dick and Harry to collect money: HC on crowdfunding for treatment of rare diseases
The high court said it was concerned that every ”Tom, Dick, and Harry” was collecting funds via crowdfunding for treatment of the children suffering from rare diseases and asked the state government whether it has any control over such transactions.
Justice P B Suresh Kumar said the court does not want to interdict the crowdfunding process, but it wants the funds to go to the government instead into the account of some private individuals who may or may not give it to those who require the money.
Indian economy lacks fresh investment as banks find lending risky
While banks are dithering on loans on the one hand, companies are pushing back investment plans amid lack of demand on the other.
Corporate willingness for new investments is low, according to the Centre for Monitoring Indian Economy Pvt., with capital expenditure declining. While companies have posted bumper profits mostly on the back of widespread cost cutting, most have used the extra funds generated to pay down bank loans.
Saudis may work longer, pay more to Kingdom’s pension fund: Report
The government — faced with an estimated actuarial gap of 800 billion riyals ($213 billion) at the state-controlled pension fund — is weighing proposals to increase the retirement age, according to three people familiar with the matter, who asked not to be identified to discuss confidential deliberations. It could also require workers to contribute more of their salaries to the General Organization for Social Insurance, or GOSI, which manages both public and private sector pensions, the people said.