AI governance Alliance calls for inclusive access to advanced Artificial Intelligence
Davos [Switzerland], January 18 (ANI): The AI governance Alliance (AIGA) on Thursday released a series of three new reports on advanced artificial intelligence (AI). The papers focused on generative AI governance, unlocking its value and a framework for responsible AI development and deployment. The Alliance brings together governments, businesses and experts to shape responsible AI […] Key Points
ThePrintIndia central bank deputy calls for better risk management, governance at banks
The Reserve Bank of India has urged Indian banks to adopt effective risk management practices and strengthen their governance standards in order to avoid financial instability. MK Jain, a deputy governor of the bank, emphasised that competent and independent boards that oversee management are key to ensuring effective governance, as is taking a long-term view of one's business and considering the impact of decisions on financial health, reputation, and broader social and environmental factors. Key Points
Economic TimesED's searches at corporates may tarnish business prospects, constrict funding access: Fitch
Fitch Ratings said that Indian law-enforcement agencies' investigations could potentially damage a corporate's business reputation and constrict funding access, particularly when there is reduced market confidence, despite no wrongdoing being identified. This warning comes after the recent searches by the Enforcement Directorate at Manappuram Finance. Key Points
Economic TimesIndia Internet governance Forum 2023 to be held at Bharat Mandapam on Tuesday
New Delhi [India], December 4 (ANI): The Internet governance Forum (IGF), a multi-stakeholder platform formed to discuss public policy issues related to the Internet, will be convened here in the national capital on Monday. India Internet governance Forum 2023 (IIGF-2023) will be a hybrid event. Show Full Article After successfully convening the first two editions […] Key Points
ThePrintExplained | The Hiroshima process that takes AI governance global
The annual G7 Summit, hosted by Japan, took place in Hiroshima on May 19-21, 2023. Among other matters, the G7 Hiroshima Leaders’ Communiqué initiated the Hiroshima AI Process – an effort by this bloc to determine a way forward to regulate artificial intelligence. Key Points
The Hindu
Urban planning needs shift from regulation to facilitation: Hardeep Puri
Indian Minister of Housing and Urban Affairs, Hardeep Puri, has delivered a speech outlining nine key ideas for the future of urban governance and planning in India. The proposals include a shift from regulation to facilitation, the adoption of flexible and innovative approaches, citizen-focused urban policies, and the fostering of the innovation, data and technology skills of local government agencies. Puri also advocated for greater citizen engagement, strengthening of local governance, and the use of hybrid governance models to close capacity gaps. Key Points
Economic TimesStart-ups and corporate governance: Here’s why buck stops with the investors
Investors, especially those on an institutional level, are obligated to take on the role of active owners. This includes engaging with the companies they invest in, utilising their voting rights, and participating in shareholder meetings. Key Points
Business Todaygovernance gaps found in some banks have potential to cause volatility, Shaktikanta Das says
Good corporate governance is a basic requirement for keeping the banking system safe and sound, Das observed. Effective governance is of critical importance for trust, long-term stability and business integrity of banks, the Governor said. Key Points
Economic TimesKey to Adani Group ratings: More info needed on governance, funding for further action, says S&P
Last month, S&P Global Ratings revised outlook on Adani Ports and Adani Electricity to negative from stable after the report of Hindenburg Research alleged significant governance issues, many relating to disclosures. Adani group has denied all allegations. Key Points
FinancialexpressBudget 2024: Focus still on GDP - Governance, Development and Performance
Finance Minister Nirmala Sitharaman emphasized the government's focus on GDP, representing governance, development, and performance. She highlighted achievements such as three consecutive years of 7%-plus growth, India being the fastest-growing economy in the G20, and efforts in inflation management, pandemic response, and infrastructure development. Sitharaman addressed questions about fiscal deficit reduction, capital expenditure, and initiatives for social justice and inclusion. She also noted the government's commitment to fiscal consolidation and the ongoing review of the National Pension System. Key Points
Economic Times
Need to revisit current railway projects, says CAG Murmu
Mr. Murmu said the country had one of the largest railway networks which was crucial for its overall transport and logistic planning. Key Points
The HinduWriting the new rules for AI
At the Global Partnership for Artificial Intelligence summit in 2023 in New Delhi, Prime Minister Narendra Modi stressed on the importance of creating a global framework for ethical use of AI, including a protocol for testing and deploying high-risk and frontier AI tools. Earlier, at the first global AI Safety Summit 2023 at Bletchley Park, 28 countries gave a call for international cooperation to manage the challenges and risks of AI. Key Points
Economic TimesWho will compensate Adani investors?
The present Adani share prices don’t reflect the hangover of governance issues. They largely reflect the setback to growth that the group suffers post the loud, even though flawed, endorsement of the Hindenburg report by the political class. Key Points
FinancialexpressIt's important to de-risk global economy in era of volatility and uncertainty, says S Jaishankar
External Affairs Minister S Jaishankar has said that the India-EU Trade and Technology Council (TTC) is a significant milestone in the strategic partnership between India and the European Union. The meeting, co-chaired on the Indian side by Jaishankar, Commerce and Industry Minister Piyush Goyal and Communications, Electronics and IT Minister Rajeev Chandrasekhar, covered key focus areas of strategic technologies, digital governance and green energy technologies. Key Points
Economic TimesRBI invites firms to participate in Greenwashing TechSprint
The Reserve Bank of India plans to combat greenwashing in financial services, where exaggerated or unproven Environmental, Social and governance (ESG) claims can damage market confidence in such products. Greenwashing involves making misleading statements about a product's positive environmental impact or ESG credentials. To address the issue, the regulator plans to participate in a virtual TechSprint event, which will bring together international regulators and firms to develop new tools to tackle greenwashing in financial services. Key Points
Economic Times
People trust our intent & commitment, says Modi in UAE. ‘World needs inclusive, clean governments'
Modi’s visit to the UAE is his seventh since 2014. On Wednesday, he will also inaugurate BAPS Mandir, the first Hindu temple in Abu Dhabi. Key Points
ThePrintPanchayats need to intensify efforts to augment revenue resources: RBI report
Finances of Panchayati Raj Institutions (PRIs) face constraints as they have limited own revenues from property taxes, fees and fines. Nearly all of their revenues are generated through grants from higher levels of government, underscoring their heavy reliance on the central and state governments, as per the report on 'Finances of Panchayati Raj Institutions' by the Reserve Bank of India (RBI). Key Points
Economic TimesRating mechanism needs reform, says office of the Chief Economic Adviser
Given that private capital has a larger role to play in addressing global challenges over the coming decades, even a small reduction in the cost of borrowing for developing countries would go a long way. Reforming the sovereign rating methodology to more accurately reflect a developing nation's default risk has the potential to save billions of dollars for borrowing countries, the paper, published as part of essays from the office of CEA, pointed out. Key Points
Economic Times‘Governance creates value in long run, not branding’
Discover why governance plays a crucial role in creating long-term value for startups over branding. Learn from India's G20 Sherpa Amitabh Kant's insights at the Startup Mahakumbh event. Key Points
Times Of IndiaPaytm & its payments bank discontinue inter-company agreements to reduce dependencies
Paytm didn't say what agreements were being terminated. Payments bank agreed to simplify shareholders’ agreement to 'support Paytm Payments Bank‘s governance, independent of shareholders'. Key Points
ThePrint
BJP holds marathon meetings on LS polls
BJP holds meetings with state leaders to strategize for upcoming Lok Sabha elections, aiming to win 370 seats. PM Modi emphasizes good governance in outreach. | Latest News India Key Points
Hindustan TimesTime for them to say cheers and get re-rated? 4 not so well known smallcap breweries and liquor stocks
In the last three years, many sectors and companies which have been in the dumps for years have made a comeback. There are two kinds of comebacks, one is comeback on the dalal street. Second is a comeback in the real business. It is the second one which is more important as that is what finally matters to even the street. If one looks at the history of the liquor industry it has been dominated by two large names, but over the last few years, many smaller companies have made a comeback in a real business sense. Some due to their one brand getting super successful, others have been able to restructure their operation, reduce debt by selling some of the non core assets. Some by becoming bottlers and outsourcing their capacity to large players. In a nutshell, after two decades of ups and downs, these smaller players have reached the point where there is a possibility that they might see a re-rating, if they stay in course of clean and transparent corporate governance. Key Points
Economic TimesSports Ministry requests IOA to constitute ad-hoc committee to manage WFI affairs
The Indian Sports Ministry has suspended the newly-elected Wrestling Federation of India (WFI) due to concerns about its governance and integrity. The ministry has written to the Indian Olympic Association (IOA) to form an ad-hoc body to manage the affairs of WFI. The WFI was suspended until further orders after the body announced the U-15 and U-20 nationals without proper procedures and sufficient notice to wrestlers. Key Points
Economic TimesImprove infra, make cities more 'liveable' — Modi govt plans new programme for urban local bodies
Modelled on existing block & district programmes, policy aimed at improving governance in 4,000 plus ‘statutory towns’. Experts welcome it but ask for ‘proactive role’ from state govts. Key Points
ThePrintgovernance lapses, irregularities prompt LPs to drive changes in startup investments
An LP (an individual or an entity) is the money behind a VC or private equity fund. In the past 12-18 months, allegations of governance lapses or financial irregularities have surfaced at startups such as BharatPe, Trell, Zilingo, Mojocare, Phablecare and 4B Networks. Prompted by these reported instances of mismanagement and lack of oversight, LPs are driving changes in their relationships with VCs who recommend and manage their investment funds. Key Points
Economic Times
Companies say Sebi's new rules increase compliance load
Companies are struggling to prepare themselves for the new regulations, some of which are in place while others will take effect in the next few months, executives said. The new rules include confirmation or denial of market rumours, disclosing business contracts to family settlements, matters concerning senior employees, new environmental, social and governance regulations, communicating actions taken by any authorities, the companies say. Key Points
Economic TimesG20: India pushes for a definition, governance framework for digital public infra
India is urging the G20 to establish a governance framework and a definition for digital public infrastructure (DPI) to make sure it is accessible equally to all countries. Amitabh Kant, India's G20 Sherpa, said that defining DPI and creating a governance framework for it was essential. He added there was a need to ensure that the best practices built globally are taken to other parts of the world, so that you are able to ensure that money is put into the bank accounts of the beneficiaries and there are no leakages. Key Points
Economic TimesThis industry needs people joining them as it grows at 8 per cent annually
Green jobs in India are expected to increase by 30 million by 2050, with the demand for green skills reportedly growing faster than the supply. There is a shortfall of ESG analysts and chemical engineers in the financial services and battery sectors. The top five emerging green roles are expected to increase their demand by an average of 15% to 20% each year for the next decade, including sustainability and social impact managers, ESG analysts, governance and compliance specialists, and renewable energy experts. Key Points
Economic Times