DRAFT RULES
TRAI may offer some leeway on service quality rules to telcos
The Telecom Regulatory Authority of India (TRAI) is expected to ease some of the parameters in its proposed quality of service (QoS) regulations, initially deemed too stringent by the telecom industry. This comes as TRAI emphasizes the need for telecom operators to enhance their service quality, particularly after recent tariff hikes.
Major credit card rule changes of big banks that will come into effect in July: SBI Card, HDFC Bank, ICICI Bank, Citibank
New credit card rules: Many major banks have implemented significant modifications to the credit card services. Let's examine the important changes to credit card services offered by these major institutions, which will take effect in July.
Australia gives internet firms 6 months to draft online child safety rules
The eSafety Commissioner requested online industry members to submit a plan by October 3 outlining measures to shield minors from encountering high-impact content prematurely, covering themes such as suicide and eating disorders. The code should establish criteria for app stores, websites (including pornography and dating sites), social media platforms, and multiplayer gaming platforms to verify user content suitability, stated the commissioner.
Faster nod for power connection to EV charging stations proposed
The Indian government has proposed new guidelines to reduce the approval time for electricity connections for electric vehicle (EV) charging stations. The approval time in metropolitan areas will be cut from seven days to three days, and in municipal areas from 15 days to seven days. In rural areas, the time will be reduced from 30 days to 15 days. The draft guidelines also call for an online single-window clearance system for faster processing of these connections.
Karnataka releases draft gig workers Bill; seeks comments from platforms, other stakeholders
Karnataka introduced draft Bill for app-based platforms to provide social security benefits to gig workers and sought public feedback. The Bill proposes fee on transactions and penalties for non-compliance. It aims to protect workers' rights and ensure basic social security. It is inspired by Rajasthan law and includes grievance redressal mechanism and prevention of illegal termination. the Bill promises welfare board, fund for gig workers. Discussions have been held with major platforms and International Labour Organisation for input.
6 big deadlines, rule changes in July 2024: Credit card rule changes, Paytm wallet, ITR deadline
Money changes in July: With July fast approaching, it's essential to keep track of upcoming money deadlines and rule changes. Here is a look at five money-related changes and deadlines in July.
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Israeli supreme court says ultra-Orthodox must serve in military
Israel's Supreme Court ruled that ultra-Orthodox men must be drafted for military service like other citizens, potentially shaking Prime Minister Benjamin Netanyahu's coalition amid the Gaza conflict. The decision, aimed at ending exemptions for seminary students, highlights a longstanding divide between secular and religious sectors over military service.
Centre notifies rules under anti-paper leak law, mandates NRA to prepare SOPs for tests
The Indian government has released rules under the Public Examinations (Prevention of Unfair Means) Act, 2024, which mandates the National Recruitment Agency (NRA) to prepare norms, standards, and guidelines for computer-based tests. The Act, passed by Rajya Sabha and Lok Sabha, aims to prevent unfair means in public examinations conducted by various public bodies.
Centre urges states to align labour rules with model guidelines, WB asked to draft rules for all labour codes
The Centre has urged West Bengal to expedite the drafting of rules under the four Labour Codes, emphasizing the benefits for all societal sections, including women and migrant workers. The Centre reassured Delhi and Tamil Nadu that existing state schemes will remain unaffected post-implementation. Labour secretary Sumita Dawra led discussions on state readiness and rule alignment.
Govt issues draft guidelines to curb unsolicited biz messages, calls; seeks public comments
Consumer Affairs Ministry seeks public comments on draft guidelines to curb unsolicited and unwanted business communications like promotional calls and text messages until July 21.
Citing overlaps, experts seek rejig of Digital Competition Bill
The ministry of electronics and information technology continued discussions on the digital competition bill with think tanks and industry bodies raising concerns about foreign regulation approaches. The impact on startups and overlap with existing laws were highlighted.
DPDP rules nearly ready, industry consultations likely soon: Ashwini Vaishnaw
Consultative process planned for DPDP Act rules. Creating a digital by-design platform for implementation. Stakeholder feedback crucial for final rules.
Non-refundable Covid advance no longer available under EPFO
According to an EPFO circular dated June 12, since Covid is no longer a pandemic, the competent authority has decided to discontinue the said advance with immediate effect and this would be applicable to even exempted establishments.
Labour Codes: Secy to meet officials to take stock of state rules
The BJP-led NDA government is preparing to implement the four labour codes and will hold a meeting on June 20 with state labour secretaries and commissioners to review state rules. The aim is to align state rules with the Centre's model rules to ensure uniformity. Labour reforms are part of the government's 100-day agenda to enhance ease of doing business and attract investments. The government consolidated 29 central labour laws into four codes, with most states having framed rules across these codes.
IT Minister’s back, policy honchos hope data rules will allay sector’s concerns
The re-appointment of Ashwini Vaishnaw as the minister of electronics and information technology has sparked hopes for continued dialogue between the industry, technology policy groups, and the government before the Digital Personal Data Protection (DPDP) Rules are enforced. The government aims to build on the policy work done so far, including drafts for the Digital India Bill and safeguards for AI.
CCI proposes amendments to general rules, seeks stakeholder feedback
The Competition Commission of India (CCI) has proposed amendments to the General Regulations, 2009, following recent changes to the Competition Act. The changes, based on the Competition (Amendment) Act, 2023, aim to align the general regulations with the latest framework. The changes include the appointment of independent agencies to oversee the implementation of orders, maintaining confidentiality and avoiding conflicts of interest.
RBI, payment industry meet discusses contours of new draft PA guidelines
The digital payments industry representatives met with senior officials of the Reserve Bank of India to share their feedback on the recently released draft guidelines for payment aggregators. This comes when US payment giant Stripe seems to be withdrawing from the domestic payments market in India.
Insurers worried over surrender value rule
Life insurance companies have expressed concerns over proposed regulatory changes that would offer higher surrender values to policyholders the first year itself. Industry representatives have sent their feedback saying that these reforms could severely impact profitability and policy persistence.
PSBs seek changes to rules for Infra loans, may approach govt
State-owned lenders plan to approach the government seeking changes to terms governing performance bank guarantees (PBGs), timely compensation from concessioning authorities, and greater immunity for board members sanctioning funds for infrastructure projects as they firm up their response to Reserve Bank of India (RBI) draft rules on project financing that call for higher provisioning.
Most states out with draft rules under new labour codes, about 3 cr job opportunities in 2022-23: Labour secretary
Labour secretary Sumita Dawra said the labor reforms have been put in place with an eye on ease of doing business, simplification, and reduction in compliance burden, decriminalization and seamless dispute resolution, promotion of labor market flexibility at the same time in harnessing female participation, leveraging technologies, and meeting the scale needs of the economy, whether at the national or international level.
Government exploring options to roll out labour codes
The ministry of labour and employment is considering several options including a gradual repeal of the old labour laws to ensure there is no legal void in states that are yet to draft rules. Besides, the ministry is holding talks with states that are behind in publishing rules, urging them to expedite their compliance.
Govt evaluating RBI proposal for higher infrastructure provisioning; bankers, NBFCs voice concern
Lenders may oppose the draft rules, which proposes provisioning of up to 5% from current 0.4%, due to concerns over rising interest rates and potential disruption to capital expenditure. Banks plan to lobby against the steep increase, arguing it could affect project viability and economic momentum. State-owned NBFCs and infrastructure firms are also raising concerns, emphasizing the need to balance risk and support for infrastructure financing.
RBI issues draft guidelines on infrastructure finance
RBI introduces rules to enhance infrastructure funding and risk management through project lending guidelines, covering aspects like consortium lending, moratorium limits, and NPV requirements for lenders. The RBI also proposed that the original or revised repayment tenor, including the moratorium period, if any, should not exceed 85% of the economic life of the project.
RBI proposes tighter project finance rules
Reserve Bank proposes stricter lending rules to prevent stress on bank books during project implementation. Provisioning increases to 5% during construction phase, with reductions based on project phase and conditions met. Public feedback accepted until June 15.
WWE Draft 2024 Smackdown: Predictions, full list of superstars
WWE Draft 2024 for Smackdown is all set to take place on Friday night. Friday Smackdown of WWE will enable brands to pick super stars from a curated list.
MCA seeks inputs from shareholders to revamp IBC rules
In a notice, the ministry also said it’s seeking to tweak the rules on the application to the adjudicating authority, the annual statement of accounts and the annual report rules, as stipulated by the Insolvency and Bankruptcy Board of India (IBBI). The notice has been uploaded on the IBBI website.
EU drops sovereignty requirements in cybersecurity certification scheme: document
The European Union has struggled to agree to a cybersecurity certification scheme (EUCS) to vouch for the cybersecurity of cloud services and help governments and companies in the bloc to select a secure and trusted vendor for their business.
Govt proposes exempting certain M&A deals from CCI approval requirement
Draft rules to exempt certain categories of combinations from the Competition Commission of India (CCI) approval requirement have been issued by the corporate affairs ministry. Vaibhav Choukse, Partner & Head - Competition Law at JSA Advocates & Solicitors, said the draft rules enlist certain kinds of M&A (Merger & Acquisition) transactions which will not require approval from the CCI.
EU members endorse diluted draft rules on rights for gig workers
European Union lawmakers and Belgium clinched a political deal last month, but only after diluting the Commission's proposal. They then failed to muster enough votes in favour from EU countries as France, Germany, Estonia and Greece abstained.
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