SANDBOX REGIME
India’s crypto regulations can do with a HODL strategy
As the global crypto asset market progresses, India finds itself at a pivotal juncture. There’s an opportunity to chart a course that delicately balances innovation in this nascent but super exciting sector, together with risk management, while drawing invaluable insights from the regulatory experiences of other nations.
View: How to future-proof AI regulation
The Ministry of Electronics and Information Technology (MeitY) issued a revised AI advisory on March 15, overturning a provision from the March 1 version that required intermediaries to obtain government approval before launching generative AI or other AI deployments. The original advisory raised concerns about its legality and stifling AI innovation due to its unclear scope and broad control assigned to the government.
Financial reporting community needs to learn from India’s start-up success story, says NFRA chairman
“India ranks third globally in terms of the number of start-ups that are becoming unicorns. We all should collectively think if we can do the same thing in the auditing community,” Pandey said in his closing remarks. Pandey noted that NFRA would coordinate with the Ministry of Corporate Affairs to help create enabling frameworks for establishing home-grown audit firms like the Big Four.
Sandboxing, catalytic capital and talent hub: Dubai’s innovative approach to economic growth
Dubai's regulatory-led tech growth, catalytic and patient funding, and policies to attract talent are spurring growth in crucial sectors of the Emirate
Govt eyes regulatory sandbox for OTT communication apps
According to the latest version of the draft Indian Telecommunications Bill 2023, the government will come out with specific administrative rules and eligibility criterion for allowing OTT communication apps such as WhatsApp and Signal to be tested in these regulatory sandboxes.
Irdai on a transformational journey to take insurance to masses
Under new chairman Debasish Panda, the regulator is engaging with the industry more than ever and looking to get the sector charged up.
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Fintech startups push for decentralised KYC regime
Technology is available, but the enormous size of India’s banking ecosystem raises challenges
Banks set to pilot dollar clearing and settlement at IFSC
Over the next few months, Wall Street banking biggie JP Morgan, along with several other financial institutions, will carry out a pilot project where dollar payments and receipts can be completed among international banking units (IBUs) - or bank branches - at the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar, Gujarat.
5 crypto ICOs and presales to invest in 2023
Looking for promising ICOs and presales that can bring you high returns in 2023? These five early-stage tokens offer excellent opportunities.
Budget 2023 Wish List: India needs to emphasize on capacity building for emerging sectors, aid startups for country's march to the top
Several areas of tax and regulatory rationalization will help improve the competitiveness of the domestic VC and startup industry, attract more investors to invest, and provide a more certain regulatory environment. Also, there is a need for the government to set up Fund of Funds for Industry oriented early-stage capital – just like PLI, early-stage funding of funding in some sectors such as space, Agritech, hardware, Industry 4.0, and Energy to promote entrepreneurship and drive new investments in these sectors.
The rise and fall of Congress under Sonia and Rahul Gandhi, explained in charts
In the period, the party was in power at the Centre for 10 successive years and then hit a historic low -- leaving behind a massive challenge for the next party president.
IRDAI organises hackathon, invites innovative solutions for insurance sector
"The hackathon invites participants to identify and develop solutions that have the potential to make the insurance available to every individual in a seamless and swift manner with the use of technology and protecting the interests of the policyholders," the regulator said in a statement.
Kazakhstan introduces visa free regime for Indians; woos investments
According to the Decree 464 of the Government of the Republic of Kazakhstan dated 7 July 2022, the Kazakh authorities have introduced a visa-free entry regime for citizens of the Republic of India, which will allow Indian citizens a continuous visa-free stay in Kazakhstan for up to 14 days, according to an official announcement.
Regulatory framework needed for promoting digital banks: NITI Aayog report
India's public digital infrastructure, especially Unified Payments Interface (UPI) has successfully demonstrated how to challenge established incumbents, it said, adding that UPI transactions measured have surpassed Rs 4 trillion in value.
EU eyes $47 billion in private capital to fund deep-tech startups
The proposals aim to help the 27-country bloc catch up with the United States, Japan and South Korea in cutting-edge technology, venture capital funding and innovative patents.
Privacy commitment is paramount concern for us, says Google's Keith Enright
Google, Enright said, would cooperate with law enforcement agencies “that is appropriate and legally required”, but that also will be done on a case-to-case basis.
How India can cement its place as a trailblazer in fintech innovation
Fully digital banks are already a reality, and it's just a matter of time for them to become commonplace. As the discussion paper highlights, full-stack digital banks may also hold the promise as a potential solution for the persistent policy challenge of credit deepening. It is the next stage of financial inclusion.
Crypto brain drain is crazy in India, Polygon cofounder Sandeep Nailwal says
India's dithering on whether to embrace digital assets is causing thousands of developers, investors and entrepreneurs to leave for places with more friendly regulation, said Polygon co-founder Sandeep Nailwal.
Crypto week at a glance: Buying at lower levels, strictness saddened sentiments
Bitcoin, along with many other cryptocurrencies, had a fantastic yet volatile run in 2021, hitting all-time highs.
Note to lenders: Anyone who can code well can be a banker
Finance is getting impatient in the digital age. Indians now pay and receive Rs 7.7 lakh core a month via apps running over a shared public utility. In the next few years, nearly 440 million owners of cheaper feature phones will be able to conduct cashless transactions. We are beginning to see the first stirrings of this radical overhaul. For banks in India, a fundamental rethink is required now before it’s too late.
Niti Aayog floats idea of full-stack digital banks
Government think-tank Niti Aayog on Wednesday proposed setting up of full-stack 'digital banks', which would principally rely on the internet and other proximate channels to offer their services and not physical branches, to mitigate the financial deepening challenges being faced in the country.
Why trade finance is an important form of funding and how recent policy changes can strengthen it
Trade finance is going to be an important form of resource raising for the foreseeable future – both for big corporates as well as micro, small and medium enterprises (MSME).
View: Personal Data Protection law should advance the goals of digital economy
The Personal Data Protection (PDP) Bill has undergone significant changes, and is expected to be tabled in the upcoming budget session in Parliament.
NITI Aayog proposes a self-regulatory body as part of national-level online fantasy sports rules
Fantasy sports platforms operate through online media on a pan-India basis but they are governed under varied state-wise regulatory regimes
Tech companies flag licensing, non-personal data terms
Their apprehensions include sharing of non-personal data with the government, exceptions that the government has given itself, verification of social media users, certification requirements from the Data Protection Authority, and missing timelines for implementation of the bill.
Legup to Startups: Karnataka to launch Innovation Authority on Wednesday
Authority will sanction setting up of regulatory sandboxes and can exempt or relax provisions of any state law, says CM Yediyurappa.
IRDAI opens application window for regulatory sandbox participation
IRDAI said that the first window for applications will open from September 15 to October 13.
India picks blockchain lessons in crypto valley
Indian delegation to Switzerland will recommend policy changes aimed at adopting blockchain.
Govt should find new ways for Fintech to onboard customers through Aadhaar based e-KYC
The Indian fintech industry has witnessed a mercurial rise in the past few years.
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