Celebrities, Influencers Warned Against Betting Ads
The Central Consumer Protection Authority (CCPA) has issued a stern warning to celebrities and influencers who promote betting and gambling activities through advertisements. The CCPA said that such endorsements are illegal and can have serious financial and social consequences, especially for the youth. What are betting and gambling activities? Betting and gambling are activities that […]
CCI New Penalty Rules: Based on Company Income, Turnover
The Competition Commission of India (CCI) has issued new guidelines for imposing penalties on companies that violate the competition law. The guidelines, which came into effect from March 6, 2024, allow the CCI to base the penalties on the average turnover or income of the company derived from all products and services, and not just […]
AIGF: CCPA Order Separates Legal and Illegal Gambling Sites
The All India Gaming Federation (AIGF) has welcomed the advisory issued by the Central Consumer Protection Authority (CCPA) to celebrities and influencers to refrain from promoting betting and gambling firms, saying it will help in distinguishing genuine platforms from illegal entities. In this article, we will discuss the following aspects of the CCPA advisory and […]
Government Announces Settlement Provisions in Competition Law
The government has recently notified the provisions relating to settlement and commitment under the competition law, which will enable faster resolution of cases involving anti-competitive practices and abuse of dominant position. What are settlement and commitment provisions? Settlement provisions allow parties involved in competition law violations of vertical anti-competitive agreements [Section 3 (4)] and also […]
New FDI Norms in Space Sector by DPIIT
The Department for Promotion of Industry and Internal Trade (DPIIT) has notified changes in the foreign direct investment (FDI) norms in the space sector, allowing up to 100% overseas investment in some activities. This is expected to attract foreign players and private companies into the segment, which has been largely dominated by the government so […]
RBI Directs Banks to Offer Multi-Network Card Choices
The Reserve Bank of India (RBI) has issued new guidelines for credit card issuers, aimed at providing more flexibility and options for customers. The central bank has mandated that card issuers must allow their eligible customers to choose from multiple card networks at the time of card issuance or renewal. This will enable customers to […]
IRDAI Considers Raising Policy Surrender Charges
The Insurance Regulatory and Development Authority of India (IRDAI) is planning to increase the surrender charges of life insurance policies, according to a draft product regulation issued in December 2023. The proposal has sparked a debate among the industry players and policyholders, as it could affect the profitability of life insurers and the liquidity of […]
Digital Gateway: New Govt Initiative for Farmer Finance
The government has launched an online digital gateway named “e-Upaja Kisaan Nidhi” to empower farmers with access to pledge finance against their harvested commodities. This initiative enables farmers to store their agricultural produce with the Warehousing Development and Regulatory Authority (WDRA) and secure post-harvest loans from banks. What is pledge finance? Pledge finance is a […]
MYUV Abhiyan : UP’s Blueprint for Youth Entrepreneurship
Uttar Pradesh, the most populous state in India, is on a mission to transform its economy by nurturing entrepreneurship among its youth. The state government has recently launched an ambitious scheme called “Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUV Abhiyan)”, which aims to provide interest-free loans and support to young entrepreneurs who want to start their […]
RBI updates Bharat Bill Payment System for Better Efficiency
The Reserve Bank of India (RBI) has introduced a new framework called the Bharat Bill Payment Systems Directions, 2024, to simplify and make the system of bill payments more seamless and enhance customer protection. The fresh directive is applicable to NPCI Bharat Bill Pay Limited (NBBL), a wholly owned subsidiary of National Payments Corporation of […]