STRICTER RULES
Australia's new visa rules kick in; here's how they will affect Indians
Starting July 1, individuals seeking Australian student visas must apply from outside the country. This change affects holders of certain visas, including Visitor and Temporary Graduate visas, who can no longer apply for Student visas while in Australia. Applications submitted within Australia before July 1, 2024, will still be processed, and Working Holiday Maker and Work and Holiday visa holders remain unaffected.
New Mobile Number Portability rules to come into effect from Monday. Here's what it means for you
New MP rules from July 1: TRAI enhances telecom security with new Mobile Number Portability rules starting July 1, 2024. The amendments introduce a seven-day waiting period for Unique Porting Codes (UPCs) to combat SIM swap fraud, ensuring only genuine requests are processed and safeguarding mobile numbers from misuse and theft.
Sebi approves stricter norms for inclusion of individual stocks for derivative trading
The criteria for exit would apply to only those stocks which have completed at least six months from the month of entry into the derivative segment. while for existing stocks in the derivatives segment, the exit criteria on the basis of performance would be applicable three months after the date of issuance of circular, Sebi said.
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.
Banks ask RBI to ease liquidity rule to keep credit taps open
Indian banks are urging the industry regulator to relax the current liquidity coverage requirements. They believe easing these mandates will free up more funds for lending.
Health insurance premiums can be reduced if you don’t make a claim, policy cancellations to be less costly and more: 5 rule changes
Health insurance rule changes: To make health insurance policy more inclusive, flexible and customer-friendly, IRDAI has recently released a master circular on health insurance business. The regulator introduces new measures regarding cancellation charges, standardising no-claim bonus, and increasing claim settlement transparency. ET Wealth Online explores how these regulations empower policyholders and improve their health insurance experience.
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Temu will have to comply with tougher EU online content rules, EU says
Temu, a fast-fashion e-commerce retailer under the PDD Group, is required to comply with strict EU online content rules as a very large online platform (VLOP) under the Digital Services Act (DSA), facing penalties of up to 6% of their global annual turnover for violations.
Health insurance claim rule change: Cashless claims must be cleared in 3 hours; insurer to pay hospital charges for delay in discharge, says IRDAI
Health insurance: The Insurance Regulatory and Development Authority of India (IRDAI) has released a master circular to streamline health insurance claim process. Previously, delays in claim approvals forced patients to stay in hospitals longer. Now, insurers have three hours to approve cashless discharge requests. Additionally, insurers will be liable for extra hospital charges due to delays.
EU in touch with Telegram as it nears criterion for EU tech rules
The Digital Services Act (DSA) which kicked in last year applies to all online intermediaries and platforms, but with tougher obligations on Big Tech to do more to police illegal and harmful online content on their platforms.
New driving license rules coming into effect from June 1. Check details
New driving license rules effective from June 1 allow tests at private training centres instead of RTOs, with fines for speeding ranging from Rs 1000 to Rs 2000.
Flying to the UAE? Dubai, Abu Dhabi increase checks to prevent misuse of tourist visas
Stricter immigration checks at Dubai and Abu Dhabi airports now require visitors to show proof of ₹60,000 in their bank account or a credit card and return ticket. First-time travelers from Tamil Nadu and Kerala are under scrutiny.
Companies become stricter on return-to-office mandates, but considerate on employee needs
As the market shifts from being an 'employees' to an 'employer's market', return to office calls have been getting louder, with some companies even penalising employees who don't toe the line. However, while expanded flexibility is discretionary, there are several such examples across organisations.
UK tightens student visa rules but keeps Indian students' favourite graduate route intact for now
The UK's Graduate Route scheme, popular with Indian students for post-study work, remains safe for now, though it will be "kept under review," as the government announced new proposals to tighten student visa regulations to prevent misuse for immigration. The measures follow a 10% fall in net migration, welcomed by Prime Minister Rishi Sunak. The Home Office highlighted a 25% drop in visa applications due to stricter rules on family dependents and plans to regulate international student recruitment to crack down on rogue agents.
RBI warns NBFCs a mode they use for giving loans may bring grief
Bank Loans: The Reserve Bank of India has issued a caution to non-bank finance companies, advising them against becoming overly reliant on algorithm-based credit models. RBI Deputy Governor Swaminathan J flagged the importance of maintaining a balanced approach in credit assessment, highlighting potential risks associated with over-reliance on historical data and algorithms.
Pune: Automatic Rs 10,000 challan at petrol pumps for not having this document. Check latest rule
Pune Traffic Rule: Authorities in India working on stricter regulations to reduce vehicular pollution, promoting eco-friendly fuels and electric vehicles. Pune authorities have developed automated system using advanced cameras at petrol pumps to penalize vehicles without valid PUC certificates. Waiting for official confirmation on timeline for implementation. Drivers may have a grace period to renew PUC certificates.
Sebi comes out with stringent rules to tackle misconduct, corrupt practices by employees
In its notification dated May 6, Sebi said that the new framework would be also applicable to those employees who have resigned or retired from the services or have completed the tenure of deputation. The new rules have been made applicable from the same date.
Chennai local body announces strict rule for pet dogs after Rottweilers maul 5-year-old: Read new rules here
In response to a recent Rottweiler attack on a five-year-old girl in a Chennai park, the Greater Chennai Corporation has imposed stricter pet regulations. Dogs must now be leashed and muzzled in public parks, with only one allowed per owner. A pet license is mandatory, ensuring compliance. Meanwhile, the injured child, Sudaksha, undergoes treatment, with the Corporation covering expenses. Investigations are ongoing into the incident.
RBI’s stricter KYC rules may slow merchant onboarding 90%: experts
The new rules will be applicable to existing payment aggregators such as Razorpay, Cashfree, and PayU, card payment companies, such as Pine Labs, Innoviti Payments, and MSwipe, and QR code deployers, such as PhonePe, BharatPe and Google Pay.
Europe travel: EU agrees on stricter rules for visiting Schengen area
The ambassadors of European Union member states have introduced stricter rules for visiting Europe, allowing the EU to halt visa-free travel for countries whose citizens can enter the Schengen area without a visa.
Sebi may offer FPIs relief on stricter disclosures
The board may also discuss another proposal to allow alternative investment funds (AIFs) to pledge their shares in infrastructure sector investee companies in a bid to allow these investment vehicles to engage in leverage.
India's food safety regulator working on stricter rules for health supplements
The authority had received several complaints about many non-compliant health supplements being sold in the market, according to anofficial, after which it conducted a drive across the country to check nutraceuticals and health supplements for quality and safety throughout their manufacturing and sale process.
EU Commission's use of Microsoft software breached privacy rules: watchdog
The European Data Protection Supervisor (EDPS) ordered the Commission to take measures to comply with privacy rules and to halt data transfer to the US company and subsidiaries located in third countries that do not have privacy deals with the EU, setting a deadline of December 9 for both orders.
Shein to face tough EU online content rules as users in region soar
The new rules, known as the Digital Services Act (DSA), classify companies with more than 45 million users as very large online platforms (VLOPs) and require them to do more to fight illegal and harmful content as well as counterfeit products on their platforms.
Indian airlines shouldn't gamble with stricter safety if they want more business
Indian airlines need to embrace new rules mandating longer breaks and shorter work hours for pilots. Delaying implementation could have consequences, as seen in past accidents. Ensuring passenger safety and comfort is crucial for the growth of the aviation industry.
'Concentrated' AIFs need stricter rules to stop misuse: Fund Houses
Even though an industry-wide consensus is yet to be reached on the subject, a number of AIF managers are taking such positions with the Securities and Exchange Board of India (Sebi) having made it clear that it would like to put an end to deals that are cut to circumvent different financial regulations. Such practices, according to the regulator, could erode trust in the system.
Local glove makers call for stricter rules to check dumping
The makers of nitrile gloves are meeting the Bureau of Indian Standards (BIS) on Wednesday urging them to intervene as the market is being flooded by poor quality glove dumping.
RBI proposes stricter rules for housing finance companies
The Reserve Bank of India plans to tighten deposit mobilisation rules for housing finance companies like PNB Housing Finance and LIC Housing Finance to align them with other non-banking finance companies. HFCs without investment grade credit ratings will be barred from raising public deposits. The ceiling on public deposits for compliant HFCs will be reduced to 1.5 times net owned funds.
From hotel accommodation to full refund, Centre mulls stricter measures to safeguard air travelers
The catalyst for this proposed change stems from a recent incident involving IndiGo passengers who were not flown to their destination from Bengaluru as per their original booking.
Govt plans stricter rules to deter betting apps; Indian cricket jerseys fly off ecommerce shelves
To curtail the spread of illegal online gambling and betting via offshore platforms in the country, the Centre is planning to tighten the rules, especially on UPI payments. This and more in today’s ETtech Top 5.
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