Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Mumbai, Fintech players should form <keyword id="18684976" type="General" weightage="50" keywordseo="a-self-regulatory-organisation" source="Orion">a self regulatory organisation</keyword> for an orderly growth of the industry that is projected to have revenues of USD 200 billion by 2030, <keyword id="7268643" type="General" weightage="20" keywordseo="rbi-governor-shaktikanta-das" source="Orion">RBI Governor Shaktikanta Das</keyword> said on Wednesday. Addressing the industry at the <keyword id="9621521" type="General" weightage="50" keywordseo="global-fintech-fest" source="Orion">Global Fintech Fest</keyword> here, Das said fintech players need to evolve industry best practices to avoid misselling, stress on ethical practices, pricing transparency and take care of privacy and data protection concerns. "I would like to use this opportunity to urge and encourage the fintechs to establish a Self Regulatory Organisation (SRO) themselves," he said and assured all help from the Reserve Bank of India (RBI) for the process. The fintech players should form the SRO at the earliest, Das said and hoped that such a platform will be ready at least by the next edition of the yearly event. Stating that other industries also have SROs, Das said forming an SRO will help the players to voice their concerns. He also said that having the SRO will reduce the burden of regulating a dynamic sector off the RBI's shoulders. Das said regulators play a critical role in addressing arbitrage, ensuring compliance with existing laws, and adopting regulations as per technological advancements. Further, he asked the fintech players -- most of them startups -- to avoid the "relentless drive for valuations" and profits, and asked them to focus on customer centricity. "... to focus on customers means embracing a customer-centric approach to innovation by understanding the needs of customers, making provisions that protect customer interests and earn their trust," he added. He said that good governance will be key to durable and long term success of any company and in particular, the fintech players. Technological innovation has "unprecedented potential" to make finance more inclusive, competitive and robust, Das said, adding that advancements in technology need to evolve in a "responsible" manner. "Fintech players should themselves ensure responsible digital innovations. The Reserve Bank on its part will continue to drive the necessary regulatory and other policy measures to promote a vibrant and responsive fintech ecosystem," he said. While stressing that the coming years hold immense promise which need to be leveraged by innovators, the RBI chief said that as per projections, the fintech sector revenues are set to touch USD 200 billion by 2030. "We are at the cusp of a major transformation in fintech sector". Das also spoke about the progress on the Central Bank Digital Currency and said that newer use cases will be soon added on the wholesale CBDC front. The CBDC retail pilot is currently being operated through 13 banks across 26 cities, Das said, adding that around 1.46 million users and 0.31 million merchants are currently part of the pilot as on August 31, 2023. RBI has also enabled full inter-operability of CBDC with UPI QR codes, and is targeting 10 lakh CBDC transactions per day by December 2023 which will give it sufficient data points for analysis, Das said. Meanwhile, Srinivas Jain, the Co-Chairman of the Fintech Convergence Council, said it will be working earnestly to have an SRO in place at the earliest. "We are not on the same pages on who all from the fintech space can be members as currently this space is dominated by payments tech players but there are many others also in the fray," he told PTI.

RBI Governor asks fintech players to form self regulatory organisation

Mumbai, The <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> on Monday released a 'draft framework for recognising <keyword id="20198317" type="General" weightage="20" keywordseo="self-regulatory-organisations" source="keywords">Self-Regulatory Organisations</keyword> (SRO) for <keyword id="19942953" type="General" weightage="20" keywordseo="fintech-sector" source="keywords">FinTech Sector</keyword>', laying down the characteristics of a <keyword id="19945816" type="General" weightage="20" keywordseo="fintech" source="keywords">FinTech</keyword> SRO, and includes the required functions and governance standards. FinTechs are significantly reshaping the landscape of financial services by streamlining processes, improving accessibility, and reducing costs. Achieving a healthy balance between facilitating innovation by the industry on the one hand, and meeting regulatory priorities in a manner that protects consumers and contains risk, on the other, is crucial to optimising the contribution of the FinTech sector, the RBI said. "Self-regulation within the FinTech sector is a preferred approach for achieving the desired balance," the central bank stated. According to the RBI draft framework, the SRO-FT would derive its strength from its membership, ensuring that it is truly representative of the FinTech sector. Through comprehensive membership agreements that encompass a broad spectrum of industry players, the SRO-FT should gain the legitimacy and credibility to not only frame baseline standards and rules of conduct codes, but also to effectively monitor and enforce them. The SRO-FT must be looked up to and accepted by the industry as the key body for setting market standards, defining rules of conduct and ensuring voluntary adoption of the common framework by its members, the RBI said. The framework also states that the SRO-FT should be development-oriented, actively contributing to the growth and evolution of the industry. This involves providing specialised knowledge and expertise, offering guidance, and contributing to capacity building through training programs, and prescribing minimum eligibility criteria for its members. Also, members should perceive the SRO-FT as a legitimate arbiter of disputes. This would require a transparent and fair resolution mechanism for disputes arising among members that instils confidence in the FinTech industry. By efficiently handling conflicts and grievances, the SRO-FT would contribute to a more stable and harmonious FinTech environment. A proactive <keyword id="20198316" type="General" weightage="20" keywordseo="sroft" source="keywords">SROFT</keyword> should be capable of motivating its members to align with regulatory priorities. This would involve facilitating communication between industry players and regulatory bodies, advocating for necessary changes, and promoting a culture of compliance. The SROFT, as its duty towards ensuring compliance, should be empowered to investigate and take disciplinary action against its members for non-adherence to codes/standards/rules. The RBI said comments from stakeholders and members of the public on the draft framework may be sent by end February 2024, through e-mail. The final framework will be issued taking into account stakeholder and public responses.

RBI releases draft framework for Fintech sector self-regulatory organisations

<ul><li>According to <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>, the <keyword id="19945816" type="General" weightage="20" keywordseo="fintech" source="keywords">Fintech</keyword> <keyword id="881153" type="General" weightage="20" keywordseo="self-regulatory-organisation" source="Orion">self regulatory organisation</keyword> (SRO-FT) would derive its strength from its membership, ensuring that it is truly representative of the <keyword id="6133582" type="General" weightage="20" keywordseo="fintech-sector" source="Orion">fintech sector</keyword>. </li><li>The <keyword id="19901291" type="General" weightage="20" keywordseo="sro" source="keywords">SRO</keyword> model enables a balance between regulation and innovation, which is especially critical in fast-evolving sectors such as fintech. </li><li>The SRO-FT is anticipated to function impartially, with credibility and responsibility under the supervision of the regulator. </li></ul>The Reserve Bank(RBI) of India has released a preliminary framework outlining general functions, governance standards, and eligibility requirements for the establishment of a self-regulatory organisation for FinTech firms (SRO-FT). The recognition of SRO-FTs would be determined by the quantity and characteristics of the applications received. According to the RBI, “The SRO-FT would derive its strength from its membership, ensuring that it is truly representative of the fintech sector. Through comprehensive membership agreements that encompass a broad spectrum of industry players, the SRO-FT should gain the legitimacy and credibility to not only frame baseline standards and rules of conduct codes, but also to effectively monitor and enforce them.” Keeping up with technological progress “The RBI's move to establish an SRO framework is a game-changer in financial regulations, especially for digital lending and AI-driven innovation. This is a strong shift towards a collaborative, adaptive ecosystem. By integrating industry insights into regulation, we're ensuring that rules are practical and keep up with technological progress, fostering innovation and growth,” says <keyword id="20212226" type="General" weightage="20" keywordseo="adhil-shetty" source="keywords">Adhil Shetty</keyword>, CEO, BankBazaar, a financial marketplace. He adds that the SRO model enables a balance between regulation and innovation, which is especially critical in fast-evolving sectors such as fintech. This is not just about ensuring compliance; it's about creating a culture of integrity and ethical practices that are ingrained in the industry's DNA. The RBI's commitment to this collaborative approach is thus a significant step in developing a resilient financial ecosystem. Healthy and sustainable growth of the fintech sector “The creation of an SRO is seen as crucial in combating the influence of unscrupulous lenders, promoting ethical conduct, strengthening lending infrastructure, and formulating adaptable regulatory strategies,” says <keyword id="20212225" type="General" weightage="20" keywordseo="madhusudan-ekambaram" source="keywords">Madhusudan Ekambaram</keyword>, Co-founder and CEO, KreditBee, a personal loan app. The SRO-FT is anticipated to function impartially, with credibility and responsibility under the supervision of the regulator. Its primary goal is to contribute to the healthy and sustainable growth of the fintech sector, while also charting a smooth path to phased regulatory compliance when necessary. “This collaborative and participatory approach aligns with the RBI's overarching objective of fostering a resilient and sustainable financial ecosystem, emphasising ethical behaviour and transparency,” says Ekambaram. The SRO-FT is thus expected to play a pivotal role in shaping the course of digital lending in India by ensuring the adoption of responsible practices and maintaining integrity within the industry.

Fintech SRO aims to enhance credibility of sector, promote ethical conduct

Nobel Peace Laureate <keyword id="83501" type="PERSON" weightage="20" keywordseo="Muhammad-Yunus">Muhammad Yunus</keyword> on Saturday said building rural economy is important to stop migration amid the challenges caused due to coronavirus pandemic. "Micro credit is about building rural economy. Corona crisis has given the industry an opportunity to aid in creating a strong rural economy. Creating a strong independent rural economy will not only halt rural to urban migration but in the years to come, the migration will be urban to rural," Yunus said at a webinar by <keyword id="477100" type="ORGANIZATION" weightage="20" keywordseo="microfinance-industry">microfinance industry</keyword>. Microfinance institutions should create programmes like venture capital to create entrepreneurs in rural India, he said. There is a need for creating a national disaster fund for the sector and managed by the sector in India, Yunus said while speaking in the webinar organised by Sa-Dhan, a self regulatory organisation for the industry. Notably, India has been witnessing reverse migration of labourers and workers to their home states as lockdown imposed due to coronavirus pandemic affected them badly economically alongside huge number of job losses as well. SEE ALSO: <a href="https://www.businessinsider.in/india/news/with-233-fresh-cases-bihars-covid-19-tally-rises-to-4831/articleshow/76238545.cms">Bihar registers 233 new coronavirus cases with its overall tally rising to 4.831</a> <a href="https://www.businessinsider.in/india/news/noida-21-new-covid-19-cases-tally-591/articleshow/76238339.cms">Noida’s total coronavirus cases hit 591 with 21 new cases detected in the past 24 hours</a> <a href="https://www.businessinsider.in/india/news/342-new-coronavirus-cases-in-pune-district-six-deaths/articleshow/76239001.cms">Six more people die of coronavirus in Pune with 342 fresh cases</a>

Nobel Peace Laureate Muhammad Yunus says building the rural economy is the key to halt migration

New Delhi, Dec 6 () Online video streaming platform Netflix is looking to develop premium content in India and distribute it globally, its Chief Executive Officer Reed Hastings said on Friday.
 He said that a reason for investing in India is stable regulatory regime and allowing self-regulation for over-the-top players such as Netflix.
 "So many great storytellers are there in India. We are just investing in using those and exporting. Internet does many things but one of them allows Indian content to be shared around the world," Hastings said.
 He was speaking at a panel discussion organised by his company with Bollywood actress Huma Qureshi.
 He said the company is investing Rs 3,000 crore to develop content, and Indian content is being watched around the world.
 "We have had successes of Laila and Sacred Games all around. A cute little one is Mighty Little Bhim -- that's great Indian little character. Now, we have made a little series which is subscribed and being watched by 27 million households," Hastings said.
 He said Mighty Little Bhim is being watched across Brazil, Canada and other countries.
 "Such an opportunity here to be like the UK. The UK exports tremendous amount of content. What we are trying to invest here. It has been in movies but premium series like Laila and Sacred Games have been under development," Hasting said.
 The company for the first time started subscription service in India for low price of Rs 199 to get more audience for the platform.
 Netflix said the government has given freedom to OTT players for self-regulation.
 "You can never take freedom for granted. Part of the reason we are excited about doing this Rs 3,000 crore investment is because of stable regulatory environment," Hastings said. PRS HRS

Netflix looking to export content from India with Rs 3,000 cr investment

As the government begins to take steps to fix <keyword id="1464841" type="General" weightage="100" keywordseo="edtech" source="Orion">edtech</keyword> platforms like <keyword id="2900267" type="General" weightage="80" keywordseo="byju" source="Orion">BYJU</keyword>'s, several parents have shared their plight on social media and professional networking platforms as representatives from online education providers continue to force them to buy courses. The Ministry of Consumer Affairs recently pulled up edtech firms during a meeting with them and self-regulatory organisation India Edtech Consortium (<keyword id="306435" type="General" weightage="80" keywordseo="iec" source="Orion">IEC</keyword>) amid aggressive misselling of courses to parents. "Hey BYJU'S and <keyword id="8080458" type="General" weightage="50" keywordseo="whitehat-jr" source="Orion">WhiteHat Jr</keyword>... Trust me I am pushing my daughter to start learning coding, and do IIT JEE preparations with you guys, but she is just not willing to do so. Kids these days don't listen to their parents. She just wants to be an artist. So, please stop calling me to sell these plans/devices," Prashant <keyword id="445" type="General" weightage="50" keywordseo="sharma" source="Orion">Sharma</keyword>, who is into business development and a consultant with a penchant for storytelling, posted on LinkedIn. His post led to a barrage of similar situation being faced by parents all over the country, who are fed by constant aggressive selling of courses by the edtech representatives. <keyword id="14487485" type="General" weightage="50" keywordseo="srikant-ganesh" source="Orion">Srikant Ganesh</keyword>, Vice President at Dentsu Creative India, posted that he can totally relate to Sharma's experience. "My 9 year old son's into chess, plays the keyboard and is into speed-cubing and has no inclination towards computers / coding as such. I believe BYJU's and WhiteHat's of the world realise that there's more to kids these days than just learning to code and yes! They have a mind of their own and no one can push them into something they are not inclined towards. This false sense of FOMO being created by such brands should stop and so should the calls," Ganesh lamented. After the Centre took serious note of mis-selling of courses to parents by edtech firms, self-regulatory organisation IEC said it is committed to protecting consumer interest and has resolved 100 per cent complaints received till June. However, fresh complaints surfaced on social media platforms this month, indicating that the problem has not been addressed in totality. "This happened to me. The sales representatives of #Byju's need to be trained to handle a 'No'. I have personally experienced this when a representative called my wife and she said that we don't want to enroll. He kept calling and then I had to intervene. He kept insisting that your child had been registered on their site, so how could we say No! He didn't seem to understand and finally I had to explain to him by activating my desi side. I registered my complaint on their site but it was removed the next day," posted Dheeraj Grover, Senior Manager, HR, at VVDN Technologies. Thangarathnavel M., Head of Business Development-South Asia at German company Covestro, said on LinkedIn that he could fully relate to it too. "I had enrolled my son 2 years back but it was not much of any use. Few months back I started receiving calls from them again to enrol my son for the physical classes. But even after saying no, the calls never stopped. Once I gave a piece of my mind to one of the callers and asked him to share the mobile number of Mr. BYJU. Now the calls have stopped coming. Hope they stop this forever," he described his plight. Earlier this month, the Centre warned edtech companies against unfair trade practices. In a meeting with the IEC, Consumer Affairs Secretary, Rohit <keyword id="255172" type="General" weightage="50" keywordseo="kumar-singh" source="Orion">Kumar Singh</keyword>, said that if self-regulation does not curb unfair trade practices, then stringent guidelines would be formulated for ensuring transparency. The meeting was attended by representatives of the IAMAI, along with IEC member companies including upGrad, BYJU'S, Unacademy, Vedantu, Great Learning, WhiteHat Jr, and Sunstone. During the meeting, issues pertaining to unfair trade practices and misleading advertisements for the Indian edtech sector figured prominently. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/opinion-green-financing-in-india-need-significance-urgency-and-way-forward/articleshow/92948265.cms">OPINION: Green financing in India — Need, significance, urgency, and way forward</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/top-10-airlines-in-the-world/slidelist/92950615.cms">Top 10 Airlines in the world in 2022: Stats and performance explained</a>

My child likes chess not coding, parents fume at edtech marketers on social media

<div class="KonaFilter image-container display-table"><div><div class="image on-image">AP ImagesGemini founders Tyler and Cameron Winklevoss.</div></div></div><ul class="summary-list"><li>In a desire to shed more light on the notoriously opaque crypto industry, some crypto firms are teaming up to improve the market's reputation.</li><li>One group, the Virtual Commodity Association working group, aims to set up a self-regulatory group for the crypto industry. But its practicality has been questioned by law experts for a number of reasons.</li></ul><a href="https://www.businessinsider.com/prime-brokers-are-needed-in-the-bitcoin-market-2018-6">Interest among big Wall Street firms in the cryptocurrency market is growing,</a> but the nascent industry is still plagued by fraud and fettered by regulatory uncertainty. In the second quarter of 2018, investors lost<a href="https://www.businessinsider.com/crypto-scams-hacks-first-quarter-of-2018-crypto-aware-2018-4"> $670 million</a> in cryptocurrencies in hacks and scams. In response, a number of cryptocurrency firms are teaming up to try and to repair the industry's image and push for regulatory clarifications. Two new groups have emerged in recent weeks in an attempt to make their voices heard and to shine more light into the notoriously opaque and volatile market. One, called the Virtual Commodity Association (VCA) working group, is the industry's first self-regulatory organization and <a href="https://www.businessinsider.com/gemini-crypto-exchange-launching-working-group-2018-8">was launched by the Winklevoss brothers' Gemini exchange, Bitstamp, bitFlyer USA, and Bittrex in August.</a> In the absence of regulatory oversight, crypto exchanges are looking for ways to self-regulate the industry to make themselves more attractive to institutional investors. Lack of transparency and lack of safeguards in the crypto market is also cited as a reason <a href="https://www.businessinsider.com/sec-rejects-bitcoin-etfs-2018-8">why the SEC hasn't yet approved a bitcoin ETF. </a><a href="https://www.businessinsider.com/prime-brokers-are-needed-in-the-bitcoin-market-2018-6">Many big Wall Street funds have been loath</a> to enter the crypto market <a href="https://www.businessinsider.com/bitcoin-hackers-steal-60-million-cryptocurrency-japanese-exchange-2018-9">because of the potential for hacks and fraud.</a>But while some market observers say that the establishment of the Virtual Commodity Association is a necessary step for the nascent crypto market to mature, skeptics say it likely won't accomplish much. Joseph Moreno, a partner in Cadwalader's White Collar Defense and Investigations Group, said the idea of a self-regulatory organization - like the Gemini-led venture - may not be very effective."There's no teeth in an SRO if there's not a regulatory body behind it," he said. "It doesn't look to be very effective without statutory authority."Moreno contrasted the self-regulating nature of the Virtual Commodity Association with that of the Financial Industry Regulatory Authority, another self-governing body which is authorized by Congress and supervised by the Securities and Exchange Commission. "Presumably, [the VCA] will set standards and have the power to eject members if they violate them, but it will not have any governmental-like regulatory authority to bring enforcement actions or levy fines," he said. The SRO proposed by the Gemini group will be governed by "a board of directors and capitalized by members," and it will "not operate any markets," "not be a trade association," will not provide regulatory programs for security tokens or security token platforms," as indicated by VCA <a href="https://virtualcommodities.org/">on its website</a>. "I don't know that self-regulating is exactly a recipe for avoiding problems, "said Phil Lookadoo, a regulatory and transaction partner at Haynes and Boone, LLP. A spokesperson from the VCA could not be reached for comment. In addition, not everyone in the crypto world may welcome a self-regulatory group, which goes against the concept of decentralization - a critical feature offered by blockchain technology. "Part of the charm and fascination of blockchain is its ability to take out central intermediaries," Moreno said. "Within the community, there is a direct natural bias against centralization and giving power over to the central authority."Another group, the Blockchain Association lobbying group, has a different mission. It's composed of crypto companies like Coinbase, Circle, Digital Currency Group, Polychain Capital, Protocol Labs, and Zcash, and works on topics like tax treatment of tokens and consumer protection.These organizations are springing up <a href="https://www.businessinsider.com/us-regulators-flaring-up-enforcement-actions-against-crypto-investments-2018-9">as enforcement actions against crypto firms are starting to emerge</a>.In September,<a href="https://www.businessinsider.com/us-regulators-flaring-up-enforcement-actions-against-crypto-investments-2018-9"> the SEC and the FINRA</a> issued a string of actions against companies that have been involved with cryptocurrencies, in the first major attempts to regulate the industry.The New York Attorney General office also <a href="https://www.businessinsider.com/new-york-attorney-general-report-on-crypto-market-manipulatoin-2018-9">published a report </a>calling into question a set of practices undertaken by crypto exchanges, noting that a number of them failed to implement serious efforts to monitor and stop manipulative trading. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/gary-shilling-legendary-economist-trade-war-outlook-says-us-will-win-2018-10">The legendary economist who predicted the housing crisis says the US will win the trade war</a></h3> <div> </div> </div>

'There's no teeth': Recent attempts by crypto exchanges to regulate themselves won't amount to much, legal experts say

Welcome to <keyword id="34991" type="UNKNOWN" weightage="60" keywordseo="transportation">Transportation</keyword> &amp; Logistics Briefing, a new morning email providing the latest news, data, and insight on how digital technology is disrupting transportation and delivery, produced by BI Intelligence.<a href="http://www.businessinsider.com/intelligence/top-5-disruptive-trends-shaping-transportation-and-logistics?IR=T&amp;utm_source=businessinsider&amp;utm_medium=content_marketing&amp;utm_term=content_marketing_subscription_text_link_transportation-and-logistics-briefing-gms-first-self-driving-car-model-new-regulatory-guidelines-for-self-driving-cars-thermal-sensors-for-fully-driverless-vehicles-2017-9&amp;utm_content=content_marketing_subscription_text_link&amp;utm_campaign=content_marketing_subscription_link&amp;vertical=transportation">Get the free Top 5 Disruptive Trends Shaping Transportation &amp; Logistics report and start receiving our brand new Transportation &amp; Logistics newsletter.</a>Have feedback? We'd like to hear from you. Write me at: <a href="mailto:jcamhi@businessinsider.com">jcamhi@businessinsider.com</a>.GM AND CRUISE DESIGN THEIR FIRST SELF-DRIVING CAR FOR MASS PRODUCTION: GM and Cruise, an autonomous car startup that GM <a href="http://fortune.com/2016/03/11/gm-buying-self-driving-tech-startup-for-more-than-1-billion/">acquired</a> for more than $1 billion last year, announced that they have finished the product design for their first mass-produced self-driving vehicle, Tech Crunch <a href="https://techcrunch.com/2017/09/11/gm-and-cruise-announce-first-mass-production-self-driving-car/">reports</a>. That means the auto giant has all of the hardware components in place to launch a commercial self-driving vehicle.The self-driving car model, dubbed the Cruise Generation 3, is based on the design of the electric Chevy Bolt, and will be produced in GM's assembly plant in Orion, Michigan. GM said that it can produce tens of thousands of Generation 3s per year, once the vehicle is ready for commercial launch. The Generation 3's design includes redundant systems, so if one sensor or computer fails, another will come online to ensure that the car remains safe. For now, the Generation 3 includes a steering wheel and pedals for a human driver, but GM suggested that it plans to eventually remove those. The automaker had to modify about 40% of the Bolt's components to retrofit the Generation 3 for self-driving, but it will retain the Bolt's range of 238 miles on a single charge.GM plans to manufacture fleets of Generation 3s for services like ride-hailing and package delivery. All of the additional technology in the Generation 3 will give it a hefty price tag out of the reach of most consumers. GM said it will test 50 new Generation 3s with its employees over the next few weeks, and drivers will be present for all of the tests. Those 50 vehicles will be integrated into the Cruise Anywhere ride-hailing service, which offers on-demand rides to Cruise's employees in San Francisco. GM could both launch its own ride-hailing service using Generation 3s and sell fleets of Generation 3s to other ride-hailing companies. The company has a major partnership with Lyft centered around developing self-driving vehicles for Lyft's ride-hailing app, and GM's Maven car-sharing division has <a href="http://www.businessinsider.com/transportation-and-logistics-briefing-gm-explores-on-demand-rides-and-deliveries-pelotons-plans-to-disrupt-trucking-ota-updates-coming-to-trucks-2017-8">hinted</a> that it may offer on-demand rides in the future as well.Only two roadblocks remain on the path to the Generation 3's commercial launch - further development of self-driving software and regulatory approval. GM said that the vehicle is designed without the need for a driver, but self-driving software needs further testing and improvement before self-driving cars are capable of handling any scenario they may encounter on the road. GM purchased Cruise specifically to use its software kit to accelerate GM's development of self-driving systems. It will likely take years though for Cruise and GM to develop self-driving software that can fully replace a driver. Likewise, regulatory approval for self-driving cars without a driver is still far off, as the National Highway Traffic Safety Administration (NHTSA) <a href="http://www.businessinsider.com/transportation-and-logistics-briefing-consumers-apprehensive-about-self-driving-cars-update-on-self-driving-regulations-new-details-on-teslas-semi-truck-2017-8">faces</a> shortages in staffing and resources for overseeing self-driving cars. However, <a href="http://www.businessinsider.com/transportation-and-logistics-briefing-house-passes-federal-self-driving-car-legislation-best-logistics-upcoming-ipo-nissans-new-leaf-challenges-tesla-2017-9">legislation</a> recently passed by the House of Representatives would provide expanded exemptions for automakers to test more self-driving vehicles, allowing them to vastly expand the scope of their self-driving projects.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="BII" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/58c2c782402a6b35008b55d6-960/self driving cars forecast.jpg"></a>BII</div></div></div>US DEPARTMENT OF TRANSPORTATION RELEASES NEW SELF-DRIVING GUIDELINES: The US Department of Transportation (DoT) released an updated version of its non-binding self-driving car guidelines on Tuesday, The Washington Post <a href="https://www.washingtonpost.com/national/higher-education/us-expected-to-update-self-driving-car-guidelines/2017/09/12/abc7fc3e-97e4-11e7-af6a-6555caaeb8dc_story.html?utm_term=.cd178bf6b3f5">reports</a>. The new version cut some guidance from the previous iteration that the department released last year in an effort to streamline the development of self-driving cars. The DoT trimmed the previously 15-point safety assessment for self-driving cars down to 12 points, eliminating sections on privacy, vehicle registration, and ethical considerations. The assessment still includes guidance on crash-testing, recording of crash data, cybersecurity, object detection and avoidance, and consumer education.The new version also asserts that regulatory authority over new car technologies - including self-driving systems - lies with the federal government instead of state agencies. This is a major win for auto and tech companies developing self-driving technology. In the absence of federal regulations, 20 US states have passed their own rules for self-driving cars that overlap and sometimes conflict with each other. The DoT's guidelines though clearly state that federal rules will take precedence in regards to setting and enforcing safety standards, removing the burden of complying with all of these various state regulations. However, states will retain their existing authority to formulate and enforce rules around vehicle registrations and inspections, as well as insurance and liability.While automakers responded favorably to the new guidelines, consumer advocacy groups expressed concerns that the DoT isn't taking a more proactive approach to self-driving regulation. The 12-point safety assessment is completely voluntary for companies that are developing self-driving cars - the guidelines are meant to provide a blueprint for what factors companies should consider when developing self-driving technology, but are not legally enforceable. However, a bill recently <a href="http://www.businessinsider.com/transportation-and-logistics-briefing-house-passes-federal-self-driving-car-legislation-best-logistics-upcoming-ipo-nissans-new-leaf-challenges-tesla-2017-9">passed</a> by the House of Representatives would make the guidelines legally enforceable if it's approved by the Senate and passes into law.Enjoy reading this briefing? <a href="http://www.businessinsider.com/intelligence/transportation-and-logistics-briefing" target="_blank" rel="noopener noreferrer">Sign up and receive Transportation &amp; Logistics Briefing to your inbox.</a>THERMAL IMAGING'S SELF-DRIVING POTENTIAL: AdaSky, an Israeli automotive startup, <a href="http://www.prnewswire.com/news-releases/adasky-launches-thermal-fir-sensing-solution-to-give-vehicles-247-vision-accelerates-fully-autonomous-driving-300516958.html">unveiled</a> a new far infrared thermal camera, known as Viper, that's designed to work with computer vision algorithms to help self-driving cars detect objects around them. The company didn't specify when the camera would be available, or for how much. AdaSky is betting Viper can help self-driving cars handle scenarios that other underlying technologies can't. Most self-driving cars rely on radar, cameras, and LiDAR - a laser-image sensing technology - to help create a virtual map of the world around them. Viper isn't designed to replace these technologies, instead the company wants Viper to work with them, and help the cars view the roads when these other technologies can't do the job. That could include scenarios in inclement weather or at night involving oncoming headlights, or sudden flashes of light at dawn or dusk that blind the car's cameras and sensors temporarily. All of these situations are often <a href="http://www.businessinsider.com/autonomous-car-limitations-2016-8">difficult</a> for self-driving vehicles to handle. That means there's an opportunity for AdaSky with Viper, but it's a long-term one. Right now, most companies developing self-driving cars are looking to place only semi-autonomous cars on the road that still have a human in the driver's seat to take control of the car in situations where the car's systems fail. But in the long-run, these companies are aiming to develop fully autonomous cars that don't require a driver at all. That means they'll need technologies to help them handle every possible scenario, which could prompt companies like Intel or Waymo to build new camera equipment, like Viper, into their self-driving systems.In other news…<ul><li>China's government will ban the sale of fossil fuel vehicles entirely, though it hasn't set a date yet for the ban to take effect, according to <a href="https://www.bloomberg.com/news/articles/2017-09-10/china-s-fossil-fuel-deadline-shifts-focus-to-electric-car-race-j7fktx9z">Bloomberg</a>. The country's regulators are currently working with automakers to develop a timeframe for when the production and sale of the vehicles will be banned. The move is part of the country's larger effort to limit carbon emissions by 2030 to reduce air pollution. This move will also likely boost self-driving car development in the country, since the systems that power self-driving cars work better with electric vehicles than with fossil fuel powered ones.</li><li>Mapping and navigation giant TomTom will <a href="http://corporate.tomtom.com/releasedetail.cfm?ReleaseID=1040007">supply</a> its maps to German auto giant Daimler for the automaker's North American cars. The maps can be used by drivers and passengers through the in-car infotainment centers of new Mercedes A, B, C, and E-class sedans. The move could boost the in-car experience of these Mercedes vehicles, since TomTom offers some of the most advanced mapping and navigational systems currently available. Further, it's possible TomTom could also supply maps for the self-driving cars and semi-trucks that Daimler is working on, since high-quality maps are a necessity for autonomous vehicles.</li><li>XPO Logistics, a Connecticut-based logistics service provider that specializes in transporting heavy goods, is <a href="http://www.xpologistics.com/news/xpo-logistics-announces-expansion-of-last-mile-network">expanding</a> its network for last-mile deliveries with 85 new hubs across the US. XPO operates a massive long-haul trucking and rail freight network, but the expansion will help the company boost its home delivery and e-commerce fulfillment offerings. The new hubs will be located in major urban centers such as Los Angeles, Buffalo, Milwaukee, and Washington D.C. The company plans to have the new hubs up and running by the end of next year, at which point its last-mile network will reach 90% of the US population. The move should help the company capitalize on the <a href="https://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf">rapid growth</a> of e-commerce.</li></ul><div id="categorypromo"><h2><a href="http://www.businessinsider.com/intelligence/top-5-disruptive-trends-shaping-transportation-and-logistics">Click here to receive a FREE download of The Top 5 Disruptive Trends Shaping Transportation and Logistics from BI Intelligence, Business Insider's premium research service.</a></h2></div>

TRANSPORTATION AND LOGISTICS BRIEFING: GM's first self-driving car model - New regulatory guidelines for self-driving cars - Thermal sensors for fully driverless vehicles

<keyword id="2884150" type="PERSON" weightage="20" keywordseo="Yudhvir-Singh-Malik">Yudhvir Singh Malik</keyword>, the CEO of <keyword id="109212" type="ORGANIZATION" weightage="20" keywordseo="Food-Safety">Food Safety</keyword> and <keyword id="1713626" type="ORGANIZATION" weightage="20" keywordseo="Standard-Authority-of-India">Standard Authority of India</keyword> (<keyword id="154680" type="ORGANIZATION" weightage="20" keywordseo="FSSAI">FSSAI</keyword>), a Haryana cadre IAS officer from the 1983 batch, is the man who took over the list of hundreds of products rejected since 2012 and posted it on the FSSAI website in April this year. 
 On June 4, a team led by <keyword id="75190" type="CITY" weightage="20" keywordseo="Nestle">Nestle</keyword> CEO <keyword id="225478" type="PERSON" weightage="20" keywordseo="Paul-Bulcke">Paul Bulcke</keyword> met government officials including Malik and health secretary BP Sharma. Nestle tried hard to convince FSSAI official that Maggi was safe to consume, but FSSAI, which played a major role in this controversy, lashed out the Swiss multinational food and beverage company and imposed a ban on the product. This information was revealed in an Economic Times report. 
 The decision, however, has been challenged by the <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> giant Nestle in <keyword id="48485" type="ORGANIZATION" weightage="20" keywordseo="Bombay-high-court">Bombay High Court</keyword>. 
 
Yudhvir Singh Malik, considered as a tough taskmaster by his FSSAI colleagues, is the man who assumed charge in October 2014 and just after that FSSAI’s various meetings with overseas delegations have acquired the status of formal engagements. And inter-ministerial meetings have been taking place more frequently, owing to which the office of the regulator has acquired a new energy. 
 
According to Malik’s colleague, "The order issued against Nestle -which reasons out the problems, explains Nestle's grounds of defence and logically details why it is not acceptable -has his (Malik’s) stamp all over. I am sure that he has personally drafted it word by word." 
 
As mentioned in the financial daily, it was after Malik took over the list of hundreds of products rejected since 2012 was drawn up; it was posted on the FSSAI website in April. A clearer regulatory pathway for product approval is being drawn up. A recall mechanism for defective food, drafted in large parts in 2011, has been sent to the World Trade Organisation for its comments and inputs from member countries. 
 
Malik has inherited several labeling wrangles from his predecessors, mostly starting in 2013. These include disputes with imported chocolate brands such as Godiva, Guylian, Lindt and Mars besides liquor makers such as Diageo and Pernod Ricard. 
 
Last month, Malik told stakeholders that it would be unfair to draw a parallel between India's food regulatory t system and those of the US and the European Union (EU) because consumer awareness is higher in those markets. 
 
Besides this, more responsive legal systems overseas compel industry to self-regulate. He also said that Indian consumers tend to be less skeptical than those in more mature markets.

Meet Yudhvir Singh Malik, the man who led the nationwide Maggi Ban

Mumbai, Feb 6 () Following are the highlights of RBI's sixth bi-monthly monetary policy statement, 2019-20: * Policy rate kept unchanged at 5.15 pc * GDP growth for 2020-21 fiscal pegged at 6 pc * Upward bias expected in overall food prices on account of vegetables, pulses * Accommodative stance to revive growth maintained; inflation to remain elevated in short-run * Retail inflation projection revised upwards to 6.5 pc for January-March quarter * Breakout of Coronavirus may impact tourist arrivals, global trade * Rationalisation of personal income tax rates in the 2020-21 Budget to support domestic demand * Need for adjustment in interest rates on small saving schemes outlined * Pricing of loans by banks for the medium enterprises to be linked to an external benchmark effective April 1 * Time for restructuring of GST-registered MSME loans extended till December 2020, from March 2020 at present * Revised regulations for housing finance companies to be issued * RBI to periodically publish a composite 'Digital Payments Index' (DPI) from July 2020 to capture the extent of digitisation of payments * Framework for a Self-Regulatory Organisation (SRO) for digital payments to be issued * Pan India Cheque Truncation System (CTS) to be made operational by September * Extension of date of commencement of commercial operations of project loans for commercial real estate, delayed for reasons beyond the control of promoters, by one year, allowed * Crude prices likely to remain volatile * Foreign exchange reserves stood at USD 471.4 billion on February 4, 2020 * Net FDI rose to USD 24.4 billion in April-November 2019, against USD 21.2 billion a year ago * Net foreign portfolio investment (FPI) stood at USD 8.6 billion in 2010-20 (till February 4) as against net outflows of USD 14.2 billion in the year ago period * All six members of Monetary Policy Committee vote in favour of maintaining status quo on interest rate * Next meeting of the MPC scheduled during March 31, April 1 and 3, 2020. JD ANSANS

Highlights of RBI's sixth bi-monthly monetary policy statement for 2019-20

<ul><li><keyword id="6416838" type="General" weightage="20" keywordseo="coindcx" source="Orion">CoinDCX</keyword> and <keyword id="169284" type="General" weightage="20" keywordseo="asci" source="Orion">ASCI</keyword> aim to enhance confidence and credibility of India’s rapidly growing cryptocurrency and digital asset industry.</li><li>The move comes after crypto exchanges in India — which includes WazirX, CoinSwitch Kuber and CoinDCX —<a href="https://www.businessinsider.in/cryptocurrency/news/wazirx-coindcx-and-other-indian-crypto-exchanges-will-reportedly-have-new-advertisement-guidelines-in-the-next-seven-to-ten-days/articleshow/84756896.cms" data-type="tilCustomLink"> have been putting the pedal to the metal</a> when it comes to advertising in the country.</li></ul>Earlier last month, a notice by the Delhi High Court had asked Indian exchanges to add ‘standardised’ disclaimers to their ads in response to a plea that complained that the currency disclaimers are too small to read. Now, <keyword id="120108" type="General" weightage="20" keywordseo="advertising-standards-council-of-india" source="Orion">Advertising Standards Council of India</keyword> (ASCI), a voluntary self-regulatory organisation of the advertising industry has partnered with CoinDCX to mull over regulations to build transparency in <keyword id="11943645" type="General" weightage="20" keywordseo="crypto-advertising" source="Orion">crypto advertising</keyword>. With this membership, CoinDCX will actively support the advancement of advertising standards within India’s cryptocurrency and digital asset industry — thereby promoting transparency in communications and building public confidence in the space. Sumit Gupta, Co-Founder and CEO of CoinDCX, said: “We are honoured to be a member of ASCI that safeguards consumers' interests. The involvement reaffirms our commitment towards ensuring safety and security for our users, and to raise the bar for advertising transparency in crypto space in India. This will boost confidence among the users, and they can use our platform without any apprehension. Being the safest crypto exchange, we have always gone the extra mile to ensure we are fully compliant with the laws and imbue credibility and trust in our service and products.” Commenting on CoinDCX’s membership, <keyword id="212022" type="General" weightage="20" keywordseo="subhash-kamath" source="Orion">Subhash Kamath</keyword>, Chairman of ASCI said: “As ASCI steps into a digital age the nature of advertisers and advertising is changing rapidly. We welcome members representing these new industries, who believe in self-regulation. Collaboration and consultation with all stakeholders are keys to navigating the consumer protection challenges posed in this digital age.” Founded in 2018, CoinDCX has already onboarded more than 3.5 million users. It will now carry forward the vision of making crypto accessible in India and accelerate its efforts towards bringing 50 million Indians into crypto. With the growing positive sentiments in the crypto space this year, CoinDCX will continue to scale its dedicated products on the investments and trading side.

ASCI joins hands with CoinDCX to build trust and credibility in crypto advertising

<ul><li>The <keyword id="384988" type="COMPANY" weightage="20" keywordseo="Indian-Broadcasting-Foundation">Indian Broadcasting Foundation</keyword> renamed to <keyword id="11329818" type="UNKNOWN" weightage="20" keywordseo="Indian-Broadcasting-and-Digital-Foundation">Indian Broadcasting and Digital Foundation</keyword>. </li><li>IBDF will also form a Self-Regulatory Body soon. </li></ul>The Indian Broadcasting Foundation (<keyword id="56680" type="COMPANY" weightage="20" keywordseo="IBF">IBF</keyword>), the apex body of broadcasters, is being renamed as Indian Broadcasting and Digital Foundation (IBDF), as it expands its purview to cover digital platforms to bring all digital (<keyword id="1245953" type="COMPANY" weightage="20" keywordseo="OTT">OTT</keyword>) players under one roof. IBDF is in the process of forming a new wholly-owned subsidiary to handle all matters pertaining to digital media. IBDF will also form a Self-Regulatory Body (SRB), as per the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 as notified by the Government of India on 25th February 2021. This industry-led SRB called Digital Media Content Regulatory Council (DMCRC) for digital OTT platforms, which is a second-tier mechanism at the appellate level is similar to Broadcast Content Complaint Council (BCCC), which IBF had successfully implemented for the linear broadcasting sector way back in 2011. Speaking on the development, K. Madhavan, President – IBF said, “We are pleased to extend our commitment of fostering an environment that is culturally adept, socially responsible and governance-bound to the fast-growing digital medium. The diversification will empower the Foundation to pursue growth opportunities for its members who run OTT services in the country, while ensuring they present a strong collective voice, both in the broadcast and digital sector under the combined body. We will continue to work arduously to create new benchmarks in line with the industry’s growth aspirations.” Over the years, IBF has played a key role in providing research-based policy and regulatory advocacy to the government to build a strong broadcasting sector which is the backbone of the Indian M&amp;E sector. Today, with the emergence of new digital technical technologies, the Indian Broadcasting Foundation (IBF) is not only going to rechristen itself as Indian Broadcasting and Digital Foundation (IBDF) but will continue to proactively engage all the relevant stakeholders to introduce policy and regulatory certainties and strengthen self-regulatory mechanisms to help the Indian creative industry to produce world-class content which has received an overwhelming response from the global audience.

You Searched For "a self regulatory organisation" and got 12 results

RBI Governor asks fintech players to form self regulatory organisation

PTI

RBI releases draft framework for Fintech sector self-regulatory organisations

IANS

Fintech SRO aims to enhance credibility of sector, promote ethical conduct

Anagh Pal

Nobel Peace Laureate Muhammad Yunus says building the rural economy is the key to halt migration

PTI

Netflix looking to export content from India with Rs 3,000 cr investment

PTI

My child likes chess not coding, parents fume at edtech marketers on social media

IANS

'There's no teeth': Recent attempts by crypto exchanges to regulate themselves won't amount to much, legal experts say

Madeline Shi

TRANSPORTATION AND LOGISTICS BRIEFING: GM's first self-driving car model - New regulatory guidelines for self-driving cars - Thermal sensors for fully driverless vehicles

Jonathan Camhi,Nicholas Shiel…

Meet Yudhvir Singh Malik, the man who led the nationwide Maggi Ban

BI India Bureau

Highlights of RBI's sixth bi-monthly monetary policy statement for 2019-20

PTI

ASCI joins hands with CoinDCX to build trust and credibility in crypto advertising

BI India Partner

The Indian Broadcasting Foundation to bring OTT players under its purview; to be renamed as Indian Broadcasting and Digital Foundation

BI India Partner

Popular Keywords

Buying Guides