CoinSwitch CEO optimistic about regulatory shift towards innovation in India's digital ecosystem
Ashish Singhal of CoinSwitch expresses optimism regarding India's evolving regulatory landscape for innovation in the digital ecosystem. He further discussed efforts to educate beginners and promote financial literacy, the interest of businesses in leveraging blockchain technology, recommendations to regulatory authorities, and navigating the regulatory landscape while respecting the framework. Key Points
Economic TimesRBI tweaks norms related to regulatory Sandbox scheme
Reserve Bank of India revised the guidelines for the regulatory Sandbox (RS) scheme, requiring participating entities to adhere to digital personal data protection standards. The regulatory Sandbox typically involves the live testing of novel products or services within a controlled regulatory environment, wherein regulators may grant specific relaxations for the sole purpose of testing, subject to certain conditions. Key Points
Economic Timesregulatory tightening an opportunity for long-term investors: 6 NBFC stocks with upside potential of up to
Just a day after the biggest wealth creator from the NBFC space witnessed a sharp cut, it might appear that NBFC is not a right sector to look at. But go back to history and one would see that the time to look at a sector is when something which is perceived as negative. In the last three months, whether it is the consumer lending or housing finance segment, the RBI has been tightening the laws and regulations for provisioning. The question is why RBI is doing it and whether it will give a boost to a higher and cleaner growth. By cleaner growth, a growth which is less volatile and less accident prone. Given the fact the NBFC sector has a history of meeting with accidents and creating problems for a lot of sectors. The answer tilts toward yes, this regulatory tightening is good and in long term value accretive. Key Points
Economic TimesAdani-Hindenburg: The apex court has endorsed regulatory independence
The SC verdict backs our regulatory system and reinforces public trust in Indian institutions. Regulators must fulfil their mandates within the context of our fast-emerging economy’s needs. Key Points
mintET Explainer: What's a regulatory sandbox? How it spurs innovation
The 2023 Telecommunications Act requires the establishment of regulatory sandboxes (RSs) to assess and promote innovation in emerging communication technologies. The introduction of sandboxes is anticipated to promote the involvement of startups and small to medium-sized enterprises (SMEs) in devising relevant use cases for 5G and beyond, extending into the realm of 6G. The thorough live testing conducted within a sandbox environment is also expected to assist telecommunication companies and technology firms in identifying and addressing issues before launching new products commercially. Key Points
Economic Times
Alaska Airlines to acquire Hawaiian Airlines in $1.9 billion deal
International Business News: Alaska Airlines announces intent to purchase Hawaiian Airlines for $1.9 billion, awaiting regulatory approval. Merger would create nation's fifth-larg Key Points
Times Of IndiaBroadcom closes $69 billion VMware deal after China approval
Broadcom (AVGO.O) on Wednesday closed its $69 billion acquisition of cloud-computing firm VMware (VMW.N) after receiving regulatory approval in last major market China and ending a months-long saga. Key Points
ReutersWhat people are saying about Ant Group's $984 million fine and share buyback
China's Ant Group has announced a surprise share buyback that values the fintech giant at $78.5 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit. Key Points
ReutersTCS, Adani Enterprises, Sula Vineyards, LIC, HDFC Bank, ONGC stocks in focus
The Nifty futures on the Singapore Exchange were trading 6 pts or 0.03% higher at 17793 in the early morning trade. Key Points
FinancialexpressPaytm shares jump 9% after Vijay Shekhar Sharma meets RBI, FM Nirmala Sitharaman
Following three days of non-stop selling in lower circuits which led to 42% crash in the stock, Paytm shares ended 3% higher yesterday. At this stage, Paytm shares are solely guided by investor sentiment around the regulatory trouble and Indian fintech poster boy's capability to tackle it. Key Points
Economic Times
TRAI consultation on encouraging innovative tech, business models via regulatory sandbox in digital commun
Telecom regulator TRAI has floated a discussion paper on encouraging innovative technologies, services, use cases, and business models through a regulatory sandbox in the digital communication sector. The consultation paper proposes a draft sandbox framework and seeks inputs from stakeholders on its various aspects. Key Points
Economic TimesTrai imposes over Rs 1 cr penalty on Voda Idea for failure to curb pesky calls, SMS
New Delhi, Sep 29 (PTI) Telecom regulator Trai has imposed over Rs 1 crore penalty on Vodafone Idea for failure to curb pesky calls and SMS, the company said on Friday. The Telecom regulatory Authority of India (Trai) levied the fine on September 28, Vodafone Idea (VIL) said in a regulatory filing on Friday. “Failure […] Key Points
ThePrintSC appoints former Delhi HC judge Justice Jayant Nath as interim chairperson of DERC
The Supreme Court on Friday appointed former Delhi HC judge Justice Jayant Nath as interim chairperson of Delhi Electricity regulatory Commission (DERC). Earlier, on July 20, the top court had mulled over appointing an ad-hoc DERC chairman after the LG and the Delhi government failed to reach a consensus on who should head regulatory body. Key Points
Economic TimesDon't paint them with same brush: 4 NBFCs with strong parentage, 3 with upside potential of up to 25%
It started with RBI asking for higher provision for unsecured credit by NBFC and banks, then the housing finance sector came under the lens and tighter provision for raising debt. Then it was the turn of micro finance companies. But then came action in two companies, in both cases companies were stopped from doing a part of their business. This where the street got jittery and there was a sharp decline in all the NBFC stocks. The reason, the two orders from RBI brought back the memories of 2018, when the RBI action on a private bank and one housing finance company, created a mayhem on the street and all NBFC came under pressure. The question is whether this is the repeat of 2018 ? The answer, probably No. Will there be action on individual companies ? Answer is probably Yes and even more severe. Key Points
Economic TimesRegulation, conducive environment among top factors to fuel crypto trading among Indian investors: Sumit G
Sumit Gupta, Co-Founder of CoinDCX, discusses the key drivers for crypto trading in India and the challenges of building in the evolving environment. He highlights the need for regulatory clarity and a conducive environment to incentivize more activity on Indian exchanges. Key Points
Economic Times
Govt-appointed panel may look at having more rigorous regulatory framework for unlisted cos
The Indian government is considering implementing a more rigorous regulatory framework for unlisted companies, including large startups. The Corporate Affairs Ministry plans to introduce stricter norms, with the possibility of discussing more rigorous regulations for unlisted companies, especially large ones and big startups. The panel will examine various regulatory aspects, including corporate governance, while also aiming to promote ease of doing business. Key Points
Economic Times6-yr-old’s death in Pune waterpark: We don’t regulate private pools, says civic body chief
Asked about a regulatory mechanism for such private pools, the PCMC chief said, “Now, since the issue has come to light, we will consider regulating them. We will discuss the issue of framing a regulatory mechanism for them.” Key Points
The Indian ExpressDrug regulator looks to limit alcohol content in medicines
The Drugs Consultative Committee (DCC), which comes under the Central Drugs Standard Control Organisation (CDSCO) and comprises a technical body of experts, will deliberate and make a decision on the issue soon. The drug regulatory authority had received a representation from the UP government to amend the provisions in the Drugs and Cosmetics Act and rules with respect to the misuse of the drugs containing alcohol/tincture, a person in the know told ET. Key Points
Economic TimesAdani-Hindenburg saga: SEBI cautions against premature conclusion of probe
India's market regulator SEBI on Monday told the Supreme Court Monday that any incorrect or premature conclusion of its probe into possible lapses of regulatory disclosures by billionaire Gautam Adani's eponymous group will not serve the interest of justice and will be legally untenable. The Supreme Court Friday said it will consider granting three more months to the SEBI to wrap up its probe into allegations of stock price manipulation by the Adani group while rejecting suggestions that it had blamed SEBI for regulatory failure. Key Points
Economic TimesButtigieg vows to 'do everything we can' to ensure Cruise, other self-driving vehicles safe
WASHINGTON (Reuters) - U.S. Transportation Secretary Pete Buttigieg said Monday the federal government will do "everything we can" using existing regulatory powers to ensure General Motors robotaxi Key Points
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White House proposes transportation, commerce agencies handle new space regulations
The Biden administration on Wednesday released a long-awaited proposal to split regulatory powers over emerging private-sector space activities between the U.S. transportation and commerce departments, according to a draft legislative proposal. Key Points
ReutersM&M buys 3.5% stake in RBL Bank for Rs 417 crore; may raise stake further
“We may consider further investment subject to pricing, regulatory approvals and required procedures. However, in no circumstances will it exceed 9.95,” M&M says Key Points
Economic TimesNew Telecom Bill draft: TRAI-ing again for that right balance
The Telecom regulatory Authority of India (Trai) is rethinking the regulation of communication services provided by technology companies. Telcos believe that over-the-top (OTT) applications threaten their revenue by offering calling and messaging services that require cellular networks to pay for spectrum and procure licenses. A new telecom bill draft includes OTT apps, but India's government clarified that it does not intend to impose "same service, same rules". Key Points
The Economic TimesTata Motors to hike prices of its passenger vehicles by an average 0.6% from 17 July
Tata Motors had announced price hikes of 1.2% in January and 0.6% in April, citing increased input costs and regulatory changes, respectively. Key Points
ThePrintBinance.US calls off $1.3 billion deal for Voyager's assets
Binance.US has called off its $1.3 billion deal to buy assets of bankrupt crypto lender Voyager Digital, citing a "hostile and uncertain regulatory climate." Key Points
Reuters
Maruti Suzuki hikes vehicle prices
On March 23, MSI had announced that it will increase prices of its model range in April to partially offset the impact of overall inflation and regulatory requirements . Already several automakers, including Honda Cars, Tata Motors and Hero MotoCorp, have announced increase in prices from April. Key Points
Economic TimesDeepak Mohanty is new PFRDA chief
New Delhi: The government has appointed Deepak Mohanty as chairman of Pension Fund regulatory and Development Authority (PFRDA). He replaced Supratim Bandyopadhyay, whose term ended in January. Prior to this, Mohanty, a former executive director of the Reserve Bank of India (RBI), served as a member Key Points
The Tribune IndiaPlanning to buy a property? Rera has issued a warning. Read this before investing
The Real Estate regulatory Authority (Rera) in Uttar Pradesh has reminded developers and buyers about the payment module for projects. According to UP-Rera Act, developers are not allowed to take more than 10% advance payment before the sale agreement is executed. The sale agreement should include project details, payment dates, and possession information. Additionally, developers have been directed to sell units based on carpet area only, not super area. Key Points
Economic TimesFrequent job switches light up CFO salaries
Chief financial officers (CFOs) are changing jobs more frequently as companies seek experienced CFOs to ensure financial stability, meet accounting and regulatory norms, rationalize costs, and raise funds in a volatile business environment. This high turnover has also led to an increase in CFO compensation, with some CFOs earning salaries closer to those of CEOs. Key Points
Economic TimesGrappling with AI: How govts plan to deal with revolutionary tools like ChatGPT and Bard
The potential and consequences of generative artificial intelligence has drawn the attention of policymakers across jurisdictions, who have stepped up regulatory scrutiny of these tools. G7 has committed to 'risk-based' regulation; EU's AI Act is on the way. Key Points
The Indian Express
DPIIT seeks industry inputs to reduce compliances, improve business ease
The Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh chaired a meeting discussing various initiatives to enhance ease of doing business. These include Jan Vishwas 2.0 aimed at reducing compliance burdens and criminalisation of laws. The meeting also focused on preparations for the World Banks upcoming B-READY index, which will assess regulatory frameworks and public services for firms. Key Points
Economic TimesRBI issues omnibus framework for recognising SROs for regulated entities
The omnibus framework prescribes the broad objectives, functions, eligibility criteria and governance standards, which will be common for all SROs, irrespective of the sector. The framework is the minimum requirement and the recognised SROs will be encouraged to develop their best practices, RBI said. Key Points
Economic TimesPhonePe anticipates increased market share: CEO Sameer Nigam on RBI action against Paytm
PhonePe CEO Sameer Nigam expects to gain from potential decline in Paytm's user base. PhonePe witnessed an increase in user base due to regulatory challenges faced by Paytm Payments Bank. PhonePe holds a 46% share in UPI volumes. Key Points
Economic TimesAurobindo Pharma may take a $20-million hit this quarter
The company said it is planning to resume manufacturing operations in a phased manner starting with non-aseptic lines. The US regulatory agency issued Form 483 with 9 observations against the facility at the conclusion of the inspection on February 2. The company, as an abundant caution , put on hold manufacturing at certain lines. Key Points
Economic TimesETMarkets AIF Talk: Goal congruence among regulators essential to drive foreign interest in GIFT City: Aba
Technology, especially through robo-advisory platforms, has significantly shaped the development of Indian markets across asset classes. It contributes by using advanced algorithms for data analysis, pattern recognition, and algorithmic trading, enabling the creation and execution of complex trading strategies with precision. Additionally, robo advisors excel in risk management through sophisticated algorithms, operate 24/7 for continuous market monitoring, and can even incorporate behavioral analysis for a deeper understanding of market dynamics. Key Points
Economic Times
China's LONGi jumps on probe into Hillhouse unit's stake transfer
Shares of LONGi Green Energy Technology (601012.SS) jumped on Thursday, after the company said an investment arm of Hillhouse was placed under regulatory probe for transferring shares of the company in violation of rules. Key Points
ReutersCoinbase strengthens its global advisory council
Coinbase (COIN.O) said on Tuesday it had added four national security experts to its global advisory council as the cryptocurrency industry comes under intense regulatory scrutiny following the collapse of Sam Bankman-Fried's FTX. Key Points
ReutersCCI approves IDFC merger plan with IDFC First Bank
The Competition Commission of India (CCI) has approved the merger plan of IDFC with IDFC First Bank. The approval was granted under the Green Channel Route. However, the merger is still subject to various statutory and regulatory approvals, including those from stock exchanges, regulatory authorities, and shareholders. This development is an important milestone in the merger process, and the companies will now work towards obtaining the necessary clearances and fulfilling legal requirements. Key Points
Economic TimesBroking players add new income streams amid rising competition; 5 stocks that can rally up to 56%
Stock broking space is a big opportunity, but like all other opportunities, it comes with its own risks. Change in the regulatory environment and technology is bringing challenges every day. After a gap of four years, which has seen many ups and downs with market share moving to new age companies, select companies which have moved into new areas of wealth management and other related services are attracting interest. Key Points
Economic TimesNifty financial service stocks including banks: Challenges have been a part of growth trajectory, 6 stocks
One or the other thing keeps the financial financial services sector stocks in news. Right from regulatory changes to global developments impacting the cost of capital, the financial service sector tends to deal with multiple headwinds at the same time. But over the long term the demand is so high that despite all the accidents and headwinds which companies in this sector face, the overall trajectory of the sector is upward. Yes, the rate of growth in the different sub segments are very different and so are the returns in the short term. As a sector, it has been going through structural changes. Right from the entry of the new age fintech players in every subsegment to whose target is to get business by reducing the cost of transactions to mega mergers. Key Points
Economic Times
View: Sebi & RBI's hyperactivity catches market by surprise; but it's for restoring credibility
Recent hyperactivity at Indias banking regulator and securities watchdog surprises the market. Commercial lenders are accused of concealing bad loans, while investment banks under scrutiny for pushing IPOs past the line using mule accounts. Fintech firms in Bengaluru and traditional finance industry in Mumbai are feeling the regulatory pressure. Key Points
Economic TimesPaytm shares fall after hitting upper circuit for four sessions
India Business News: Shares of One97 Communications, the parent company of the Paytm brand, are down about 2% on Thursday. Paytm shares had witnessed a significant uptick, hitting the upper circuit for the fourth consecutive session on Wednesday. Key Points
Times Of IndiaFM Nirmala Sitharaman to meet fintech heads next week
Finance Minister Nirmala Sitharaman will convene a meeting with fintech leaders, RBI officials, and representatives from key ministries on February 26 to address concerns following regulatory action against Paytm Payments Bank. The government aims to reassure the fintech industry of its priority status and understand their apprehensions. The meeting will involve officials from finance, information technology, and DPIIT. Key Points
Economic TimesPM Economic Advisory Council calls for regulating AI via complex adaptive system approach
The Economic Advisory Council to the PM has emphasised the need to regulate artificial intelligence (AI) using a complex adaptive system (CAS) approach. This includes establishing guardrails, partitions, manual overrides, and authorization chokepoints. The council also suggests mandatory audits, liability protocols, and the creation of a specialist regulator for the AI sector. Concerns about uncontrolled AI propagation and its potential risks have led to a demand for regulatory frameworks that ensure safe, ethical, and transparent AI development and deployment. Key Points
Economic TimesElon Musk backs India for permanent UNSC seat
American billionaire and X owner Elon Musk has spoken in favour of India being given a permanent seat on the UN Security Council (UNSC). “At some point,... Key Points
The Tribune India
Be an ally in ensuring better compliance, protecting stakeholder interests, RBI tells SROs
The Reserve Bank of India (RBI) has called on all self-regulatory organizations (SROs) from various sectors to focus on ensuring better compliance, safeguarding stakeholders' interests, and identifying early warning signals. The central bank outlined common objectives, functions, eligibility criteria, and governance standards for all SROs, emphasizing their role as allies in regulatory compliance, sector development, stakeholder protection, innovation, and early warning detection. Key Points
Economic Times