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<keyword id="20934456" type="General" weightage="20" keywordseo="food-safety-regulator" source="keywords">Food safety regulator</keyword> <keyword id="20225209" type="General" weightage="20" keywordseo="FSSAI" source="keywords" meta.keywordsubtype="org" meta.entityname="FSSAI" meta.hostid="153" meta.entityid="FSSAI">FSSAI</keyword> on Thursday said it is in the process of collecting pan-India samples of Nestle's Cerelac <keyword id="21363372" type="General" weightage="20" keywordseo="baby-cereals" source="keywords">baby cereals</keyword>, amid a global report that claimed the company was adding higher <keyword id="21343237" type="General" weightage="20" keywordseo="sugar-content" source="keywords">sugar content</keyword> in the product. "We are collecting samples (of Nestle's Cerelac baby cereals) from across the country. It will take 15-20 days to complete the process," Food Safety and Standards Authority (FSSAI) CEO G Kamala Vardhana Rao told PTI on the sidelines of an Assocham event on food fortification. FSSAI is a statutory body under the administration of the Ministry of Health and Family Welfare. The move comes following concerns about alleged high sugar content in Nestle's baby food products expressed by both the consumer affairs ministry and the National Commission for Protection of Child Rights (NCPCR) after taking note of a global report published by Swiss NGO Public Eye. The global report has claimed that Nestle sold baby products with higher sugar content in less developed South Asian countries including India, Africa and Latin American nations as compared to markets in Europe. However, Nestle India has maintained that it never compromises on compliance and it has reduced added sugar in baby food products in India by up to 30 per cent depending on variants over the past five years. Earlier, addressing the Assocham event, the FSSAI CEO highlighted the importance of food fortification for human health and called for fortification beyond rice to include millets and other alternative foods. FMCG firms have introduced varieties of millet-based products in the last few years and they can further expand the basket of nutritional foods in the country, he added. The CEO also unveiled an Assocham's knowledge report 'Fortifying India's Future: Significance of Food Fortification and Nutrition' on the occasion. LT Foods Global Branded Business CEO Vivek Chandra, Shariqua Yunus of World Food Programme, Fortify Health CEO Tony Senanyake and Farm to Fork Solutions CEO Umesh Kamble also spoke about food fortification. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO

<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

<ul><li>iPhone 15 series is expected to launch on 12th September.</li><li>The new iPhone 15 is expected to feature a telephoto lens</li><li>Majority of content creators are dependent on iPhones for making content </li></ul>It is that time of the year again, when <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> is expected to showcase the world its new line-up of iPhones in September. And like every year, the excitement around the devices is roaring high. It’s not surprising considering how iPhones have revolutionized smartphones over the years. From the first generation iPhone in 2007, to the introduction of face ID with iPhone X in 2017 and eventually giving us the Pro models standing tall today with iPhone 14 Pro in 2022. While the iPhone has changed its shape and form over the years, one thing remains consistent – it’s camera performance. In the current media landscape where we have a content creator in every block, iPhones happen to be the most reliable device for videography. But how did this happen? And who are some famous content creators reliant on iPhones to shoot. I tell you in this piece including my own journey as a video producer with Business Insider India. Content &amp; iPhone While the iPhones have always been a reliable source for videography, it was with the Pro variants that the situation got serious. In 2019 when the iPhone 11 Pro brought together the triple camera set-up for the first time. The A-13 bionic smartphone featured a 12MP primary sensor paired with a 12MP ultra-wide sensor and a 12MP telephoto sensor as well. Users now had an option to shoot professional grade videos at home. The colors were accurate, skin tones were natural and the 4K feed could be edited, rendered and exported for big outputs. Since then we could notice the shift in content creation, with guerrilla filmmaking going mainstream. The ability of the device combined with the ecosystem advantage in iMac one can easily transfer data and get on with the day. Currently with the iPhone 14 Pro and Pro Max, videography has gone to a new standard. The latest device from Apple features a 48MP primary camera paired with a 12MP ultra wide sensor and a 12MP telephoto sensor. The primary camera features Phase detection autofocus and optical image stabilization as well. The results are stunning visual outputs for both stills and videos. Especially from a video perspective, the camera is powerful enough that Vishal Bhardwaj made a movie – <a href="https://www.youtube.com/watch?v=f1VEks-QQ4Y">Fursat</a> using the iPhone 14 Pro. Famous Content Creators using iPhones While the iPhone has been featured by multiple content creators for its specifications, it is now also a primary camera for their feed. The buffet of content creators is as diverse as the content we see online today. Auto coverage sees Doug Demuro in America shooting his videos with an iPhone 14 Pro, in India Faisal Khan is doing the same. With sketches and comedy circuits we observe comedians like Bill Burr shooting skits with their iPhone. India is no different with famous Youtube channels like Filtercopy shooting their sketches using the iPhone. Daily content like Vlogging requires a reliable camera, and the iPhone enjoys a hand in glove match here. India’s biggest Vlogger - Sourav Joshi uses an iPhone 14 Pro to shoot his content. This also embodies the ecosystem facet considering he edits his videos on a Macbook. With airdrop he saves time sharing his footage and is able to churn out content on time. I relate to this particular aspect of content creation with all the creators mentioned above. Having produced over 200 reels for Business Insider India my go to camera has been my iPhone. While the majority of them were shot on my iPhone 12, I upgraded to the 14 Pro in April of this year. The variety of content shot also proves the reliability from the iPhone. I have shot cars, consumer tech and culinary videos as well from the same iPhone. The jump in quality has enabled me to get better footage, showing details and resulting in getting more views. Every piece of content that has gone on the Business Insider India feed has been shot on an iPhone. This has accumulated over 10 million views in a year which is a number to marvel on. Here is a list of some of our videos you must check out, all shot on the iPhone 14 Pro. <a href="https://www.instagram.com/reel/CtIpSP4B1UT/">Apple WWDC Event</a> <a href="https://www.instagram.com/reel/CvkIw8PJ_b_/">Ferrari 296GTS</a> <a href="https://www.instagram.com/reel/CuE3uifp7Xz/">Asus ROG Ally</a> <a href="https://www.instagram.com/reel/CtojU0hhEG3/">Hyundai Ioniq 5</a> <a href="https://www.instagram.com/reel/CqdOAXZhztl/">Tecno Factory Tour</a> <a href="https://www.instagram.com/reel/CqLP8Kfhqsl/">Nothing Ear 2 Unboxing + Overview</a> <a href="https://www.instagram.com/reel/CqF87MhhUYZ/">Asus Strix Scar 18</a> <a href="https://www.instagram.com/reel/CqCohGGOwKj/">Realme C55 </a> <a href="https://www.instagram.com/reel/CppmcbYA5ee/">Fun AI Websites</a> What’s next? And how will the new iPhone surprise us. The details aren’t out yet but there are some rumors doing the rounds. USB Type-C port With new EU regulations, the iPhone this year might finally say goodbye to lighting ports. Dynamic Island The iPhone 15 series this year might feature the dynamic island on all 4 variants. 4 new iPhones Yes we can see 4 iPhones again this year - regular iphone 15, then a 15 Plus, a 15 Pro and a Pro Max. Hardware Change Revised touch sensitive buttons, yes the pro models might see touch sensitive controls for volume rockers, saying hard press buttons bye bye. Upgraded Camera Camera department on the Pro models might see an upgrade with an added periscope lens, for better long range photography.

iPhone & Media – Why the iPhone matters for content creators

<ul><li>Facebook and Twitter have come under the scanner for how they regulate content on their platforms in India for two separate incidents in the past three months.</li><li>The threat to democracy lies in the grey area where freedom of speech ends and crosses over to ‘hate speech’ territory.</li><li>Lawyers told Business Insider that India’s IT (Amendment) Act, 2018, which has been pending for nearly two years now, is far from perfect.</li></ul>In India, Twitter and Facebook are facing two sides of the same coin. While one is under fire for <a href="https://www.businessinsider.in/tech/apps/news/twitter-removal-of-prashant-bhushan-tweets-opposed-by-internet-rights-body/articleshow/77667757.cms">removing content without being asked</a> to, the other is being asked why it <a href="https://www.businessinsider.in/tech/news/facebook-row-escalates-as-bjp-leader-asks-for-shashi-tharoors-removal-from-parliamentary-panel/articleshow/77656021.cms">didn’t remove content</a> that was ‘hate speech’. The power which social networks have over democracies worldwide has come under global scrutiny, whether that’s in India, the US, Australia, or Brazil. The 2016 US election was only one example of how a social network, if manipulated, can influence the behaviour of people across an entire nation. <div type="image" title="mark zuckerberg congress" msid="78121719" hostid="261" caption="&amp;lt;p&amp;gt;Facebook CEO Mark Zuckerberg testifies at a joint hearing of the Senate Judiciary and Commerce committees on Capitol Hill in Washington D.C., United States on 10 April 2018 on how he is &amp;quot;responsible for&amp;quot; not preventing the social media platform from being used for harm, including fake news, foreign interference in elections and hate speech.&amp;lt;/p&amp;gt;"></div> At the center of it all is the content they peddle and what they choose to remove — the battle between freedom of speech and where it crosses the line to become ‘hate speech’. “Companies will be better off if they stop this narrative of how they have their own community standards. They can cite the law and explain why they removed a post,” Mishi Choudhary, an online civil liberties activist and the Legal Director of Software Freedom Law Center in New York, told Business Insider. <div type="image" title="jack dorsey rahul gandhi" msid="78121757" hostid="261" caption="&amp;lt;p&amp;gt;Jack Dorsey meets then Congress President Rahul Gandhi in November 2018&amp;lt;/p&amp;gt;"></div> According to her, companies like Twitter and Facebook have ad-hoc policies that they change on their own or under the pressure of local governments. There is no standardisation. The solution proposed by India, which has been on the docket for nearly two years now, is the Information Technology (Amendment) Act, 2018. It no longer allows Facebook, Twitter or any other social network to operate as an ‘intermediary’. The inner workings of the IT (Amendment) Act, 2018 The first part of the IT (Amendment) Act, 2018, makes it mandatory for social media apps to trace the origin of content on their platforms — upon receiving a court order. It is an important aspect that has been clarified, according to lawyer Harsh Walia, a partner at Khaitan &amp; Co. “This specific provision may bring much respite to the social media companies as the term “actual knowledge” was a subject of debate/judicial interpretation so far,” he told Business Insider. The second part of the IT (Amendment) Act, 2018, is where content regulation comes in. If social networks are no longer ‘intermediaries’, they will be accountable for what is circulated on their platforms. They will be required to deploy technology or appropriate mechanisms to ‘proactively’ identify and remove access to unlawful content. This is what Twitter already did with <keyword id="6368850" type="DEFINITION" weightage="20" keywordseo="prashant-bhushan">Prashant Bhushan</keyword>’s tweets — and why it could be a problem was highlighted in the <a href="https://www.businessinsider.in/tech/apps/news/twitter-removal-of-prashant-bhushan-tweets-opposed-by-internet-rights-body/articleshow/77667757.cms">letter by the Internet Freedom Foundation (IFF)</a> sent to the social network protesting the move. “This biggest issue is that the term “unlawful” has a broad connotation and social media companies should not be expected to know the intricacies of all statutes to determine what may be lawful or unlawful,” explained lawyer Harsh Walia, a partner at Khaitan &amp; Co. What’s the alternative? One way to standardise the process by which content is regulated and reduce government influence is to have human rights law become the underlying framework. It would also take away the power from social networking platforms to decide what is and isn’t hate speech, according to Choudhary. “Human rights are agreed upon globally, and they also enable transparency. Social networks can cite the law and say why they removed a post. Mark Zuckerberg shouldn’t have to justify his actions — why should he have the power,” she said. The amendment also doesn’t spell out specific consequences — any kind of liability or punishment — for failing to adhere to the requirements. According to Walia, non-compliance with these obligations will lead to a situation where the safe harbor granted to these platforms will no longer be available to violators. “This could expose them to consequences stipulated in respect of the relevant content-related offenses,” he said. India takes center stage “The arguments and the level of scrutiny this time around is different because it’s the US election year. The Indian elections may not have mattered for social media platforms, but the 2016 election <a href="https://www.businessinsider.in/politics/world/news/a-republican-led-senate-panels-report-on-russian-election-meddling-threw-a-wrench-into-trumps-conspiracies-here-are-its-biggest-findings-/articleshow/77619881.cms">changed the conversation in a very big way</a>,” said Choudhary. The problems of how social networks are operating in India may have pulled it to the spotlight due to the upcoming US elections but India — as the world’s largest democracy — can poise itself as a leader, according to Choudhary. “India will have to rise above party lines. It will also have to consider that governments can’t actually pressurise companies to change their policies as and when they deem fit,” she said. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/rajnath-singh-to-address-parliament-on-india-china-border-row-as-tensions-continue-to-simmer-in-ladakh/articleshow/78118498.cms">Rajnath Singh to address Parliament on India-China border row as tensions continue to simmer in Ladakh</a> <a href="https://www.businessinsider.in/business/ecommerce/news/snapdeal-says-it-has-just-tested-deliveries-using-robots-and-it-was-successful/articleshow/78120511.cms">Snapdeal says it has just tested deliveries using robots and it was successful</a> <a href="https://www.businessinsider.in/business/startups/news/ronnie-screwvala-explains-why-covid-edtech-boom-is-unlike-demonetisation-boost-for-digital-payments/articleshow/78119790.cms">Ronnie Screwvala explains why COVID edtech boom is unlike demonetisation boost for digital payments</a>

For Facebook and Twitter, the changes to India's IT (Amendment) Act is just what the doctor ordered — or not

<ul><li><keyword id="5293670" type="UNKNOWN" weightage="20" keywordseo="OTT-platforms">OTT platforms</keyword> and <keyword id="10257445" type="UNKNOWN" weightage="20" keywordseo="news-content-providers">news content providers</keyword> in India will no longer be regulated by the Ministry of Electronics and Information Technology (MeitY) but by the Information and Broadcasting (I&amp;B) Ministry instead. </li><li>The changing of the guard comes with its own set of challenges like figuring out how user-generated content will be handled versus curated content.</li><li>The <keyword id="57751" type="ORGANIZATION" weightage="20" keywordseo="IB-ministry">I&amp;B Ministry</keyword> will also have to figure out how to navigate the multilingual landscape where more and more players are popping up by the day.</li></ul><keyword id="2976376" type="PERSON" weightage="20" keywordseo="Amazon-Prime-Video">Amazon Prime Video</keyword>, Netflix, Disney+ Hotstar and other over-the-top (OTT) platforms will no longer fall under the jurisdiction of the Ministry of Electronics and Information Technology (MeitY). Instead, their content will be regulated by the Information and Broadcasting (I&amp;B) Ministry, according to a notification signed by India's President Ram Nath Kovind. This is contrary to the ‘self regulation’ that the platforms prefer. However, the move has not come as a surprise. “Convergence of various ministries is extremely necessary with changes that are coming only in the country but also beyond,” said Amit Khare, secretary of the I&amp;B Ministry, during a <a href="https://eframes.24x7attend.in/">FICCI webinar</a> back in July when he hinted that a changing of the guard may be in the works. <div type="twitter" handle="barandbench" handlename="Bar &amp; Bench" image="http://pbs.twimg.com/profile_images/1304761912068984833/5-qPfQOb_normal.jpg" favoritecount="295" retweetcount="74" status="Cabinet Secretariat amends Government of India (Allocation of Business) Rules to bring online news and current affa… https://t.co/JwWP7pEVYN" createdat="1605072916000" id="1326398066203758592"></div> Distinguishing between user-generated content and curated content According to the Counterpoint analyst Tarun Pathak, the change in regulation marks a significant change. But the challenge now will be to distinguish between streaming platforms that curate content — like Netflix, Amazon Prime and others — and platforms that host user-generated content, which includes the likes of YouTube and Facebook. The latter are deemed ‘intermediaries’ under the IT Act and do not have active control over the content available on such platforms. The IT Act also recognizes this distinction between different platforms. It is uncertain as of right now whether that same distinction will be made under the I&amp;B Ministry's rule as well. The surge in online content The regulatory regimes for platforms in India — print, radio, television, films, and now, OTT — have largely been developed as per the platform. Some are self-regulated, some are pre-regulated, some are post-regulated and one still stands unregulated. Until now the likes of Amazon, Netflix, Disney+ Hotstar and others fell under the jurisdiction of the MeitY since they are digital solutions. Moreover, at the time of the formation of the IT Act, the OTT platforms had limited penetration. And, since then, their content has been largely unregulated with the exception of any self-regulation they put in place for themselves. The explosion in use of these platforms due to cheap smartphones and affordable data tariffs made the debate on regulation inevitable. “As many platforms are user content-driven and multilingual, it is almost impossible to set up a film like certification system. The internet by nature is free to circulate content, and there is always a very thin line between regulation and censorship,” Tanu Banerjee, the Media &amp; Entertainment Partner at Induslaw, told Business Insider. “In my view, it should be a collaborative approach between the Govt and OTT platforms players to come up with a mechanism to make the internet a better place for its users.” I&amp;B vs MeitY Two years ago, I&amp;B formed a committee to devise ways to regulate online media and other Internet content was <a href="https://www.hindustantimes.com/india-news/ministry-of-information-and-broadcasting-panel-to-be-replaced-soon/story-xZEXuPqIyoitGmRyFIt3gN.html">disbanded</a> after the Prime Minister’s cabinet was reshuffled. Its mandate was handed over to a panel overseen by MeitY. Then earlier this, when the topic of regulation was broached again, MeitY asserted that the Information Technology (IT) Act 2000 and its intermediary guidelines governed the conduct for all third party content — including content pushed by OTTs. This meant that the regulation of online platforms stands with MeitY, not the I&amp;B Ministry. I&amp;B, on the other hand, has been asking streaming services to come up with a code of conduct and finalise the details of the Digital Content Complaints Committee (DCCC), similar to the Broadcast Content Complaints Committee (BCCC). It was only in September 2020, that <a href="https://www.businessinsider.in/policy/news/self-regulation-code-adopted-by-disney-hotstar-amazon-prime-and-other-ott-platforms-what-is-this-code/articleshow/78009955.cms">17 large OTT players signed a self regulation code to govern content on their platform</a>, which included the mandate to have a DCCC set up. 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The likes of Hotstar, Netflix and even news content providers will now be regulated by the I&B Ministry, contrary to what the platforms would like

<ul class="summary-list"><li>24 different countries created new laws or rules determining how online platforms can treat content, a study by <keyword id="12180504" type="UNKNOWN" weightage="60" keywordseo="freedom-house" source="Orion">Freedom House</keyword> found.</li><li><keyword id="11897865" type="UNKNOWN" weightage="60" keywordseo="internet" source="Orion">Internet</keyword> freedom has declined for the past 11 years globally, according to the report.</li><li>The trend can be attributed to problems like extremism, fraud, and criminal activity in the internet.</li></ul>Authorities in at least 24 different countries, including the US, created new laws or rules determining how online platforms can treat content, a study finds.Freedom House, a Washington DC-based democracy advocacy group, reported that global internet freedom has been on the decline for 11 consecutive years.Freedom House, which publishes its Freedom on the Net report annually, found that at least 48 countries pursued new rules for tech companies on content, data, and competition in 2020, and 24 countries created new rulings specifically on how content is treated on the internet. Some of the rulings include requirements to take down illegal content, stronger transparency, and extremes like political and journalistic censorship, according to the study.Freedom House says the trend can be attributed to problems within society like extremism, exploitative business practices, and criminal activity.The report said there were "few positive exceptions" to the worldwide push to regulate the <a href="https://www.businessinsider.com/congress-big-tech-bills-facebook-google-apple-amazon-antitrust-2021-6">big tech companies</a>, such as dismantling harmful online harassment and manipulative market practices."While a few measures introduced this year have the potential to hold tech giants more accountable for their performance, most simply impose state and even political responsibilities on private firms without securing greater rights for users," the report said. This past year, <a href="https://www.businessinsider.com/twitter-takes-down-accounts-india-farmers-protests-modi-pressure-2021-2">officials in India pressured Twitter</a> to remove protest-related commentary and to stop flagging manipulated content shared by the ruling party. In Nigeria, <a href="https://www.businessinsider.com/nigeria-suspends-twitter-after-presidents-tweet-is-deleted-2021-6">authorities blocked access to Twitter</a> across the country after the social media platform removed incendiary posts by the country's president. In Texas, Gov. Greg Abbott signed a bill to stop social media companies like <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> and <keyword id="11892744" type="UNKNOWN" weightage="60" keywordseo="twitter" source="Orion">Twitter</keyword> from censoring users based on their <keyword id="11893346" type="UNKNOWN" weightage="100" keywordseo="politics" source="Orion">politics</keyword> and allows private citizens and the Texas attorney general to sue tech companies who they believe have unfairly kicked someone off a platform, <a href="https://www.businessinsider.com/texas-social-media-law-blocks-bans-based-on-users-viewpoint-2021-9">Insider reported</a>. Two major trade groups have sued Abbott and Texas over the bill, saying in the lawsuit it will "unconstitutionally require platforms like YouTube and Facebook to disseminate, for example, pro-Nazi speech, terrorist propaganda, foreign government disinformation, and medical misinformation."Currently, Twitter does not screen content or remove potentially offensive content, according to the <a href="https://help.twitter.com/en/safety-and-security/offensive-tweets-and-content">company's policy. </a> But targeted abuse or harassment can violate Twitter rules.Facebook, in a <a href="https://about.fb.com/wp-content/uploads/2020/02/Charting-A-Way-Forward_Online-Content-Regulation-White-Paper-1.pdf">white pape</a>r released by the company last year, said it wants regulators to create legal standards for content moderation. Earlier this month, a meeting of Facebook leaders focused on "whether Facebook has gotten too big," <a href="https://www.businessinsider.com/facebook-leaders-worry-they-cant-control-product-2021-9">Insider reported.</a> Facebook, the world's largest social network, with nearly 3 billion users, disagreed with the report.

The US and 23 other countries enacted laws to try and control content on the internet, study finds

<ul><li>The pandemic and the ensuing lockdown has changed our lives, perhaps forever. It has brought about many behavioural changes among consumers. While some were temporary, there are many that will perhaps become permanent.</li><li>People discovered the many conveniences of <keyword id="1245953" type="General" weightage="20" keywordseo="ott" source="Orion">OTT</keyword> platforms during the last 2 years and the sector is only expected to grow from here.</li><li>Baskar Subramanian, Co-founder and CEO, <keyword id="751982" type="General" weightage="20" keywordseo="Amagi" source="Orion">Amagi</keyword> writes why OTT is getting consumer love and why the streaming media is here to stay. </li></ul>The pandemic and the subsequent lockdowns completely transformed our entertainment experience. From 'Let's go for a good movie', we moved to 'What should we watch on <keyword id="128682" type="General" weightage="20" keywordseo="netflix" source="Orion">Netflix</keyword>?'. Movie premiers and live sporting events like IPL and others have moved to OTT. For example, Netflix released the Kangana Ranaut starrer Thalaivi and Zee5 released Bob Biswas starring Amitabh Bachchan exclusively on OTT platforms. Homegrown web series like The Family Man, Sacred Games, Aarya, Special Ops, Aashram, Mirzapur and more undoubtedly elevated the popularity of OTT platforms among the tech-savvy millennials and Gen Z population who had embraced OTT over Cable TV or DTH subscriptions even before the onset of the pandemic. Post the pandemic, however, the trend has only increased, fuelled by the many conveniences that OTT offers over traditional broadcast. With streaming TV, the fight for the remote is laid to rest. Every person in a household can watch their favorite shows on their personal devices. Content can be viewed even while travelling, and consumers are spoilt for choice with languages, content variety, and on-demand viewing. Consumers have made their preferences clear - more people are cutting the cord, shifting from paid TV subscriptions to internet-based streaming services. Boston Consulting Group predicts that the OTT content market is at an inflection point in India and is likely to reach a market size of $5 billion by 2023. From just two OTT platform providers in 2012 to about 40 players at present, the OTT revolution has come a long way in India. Estimates from Phando Corp suggest that monthly active users (MAUs) for India’s OTT video sector have grown at a blistering rate of 300% since 2019 to reach 680 million in 2021, with rural and tier 2 &amp; 3 cities consumption reaching an 80% share. West Versus India Several factors including the widespread availability of broadband infrastructure, the ubiquity of mobile phones and other connected portable devices, and quest for personalised experiences have spurred the adoption of OTT consumption in the Western world. At the same time, technology investments, the emergence of new apps, features, and independent platforms for OTT content have also been growth drivers. Tech companies such as Amazon, Facebook, Apple, YouTube, connected device providers such as Samsung, Xiaomi, LG, and studios such Disney, MGM, Paramount, Sony are among the major corporations who have entered the OTT space, giving a plethora of programming choices to the consumers in the West. The growth in OTT platforms combined with the subsequent content boom has seen vernacular content from different regions gaining international popularity. South Korean dystopian drama broke all records by becoming the most watched content on Netflix by netizens around the world. Similarly, Indian dramas such as Sacred Games and Delhi Crime were viewed and enjoyed by a global audience. As a result, all eyes are now firmly set on opportunities in emerging economies, specifically in the Indian subcontinent, with major players from the west entering the foray with attractive subscription offers, and diverse content catalogues. Some have chosen to collaborate with or acquire local brands to establish a firmer foothold in the region. For example, with the launch of Disney Plus in the US back in 2019, the streaming service promptly expanded to many other countries, including India. However, instead of getting a dedicated app for Indian users, the company acquired the Hotstar streaming platform and soon rebranded to Disney+ Hotstar. The coming together of Disney and Star TV Network (20th Century Fox) attracted tens of millions of subscribers in India and provided them access to a premium catalogue of content from Disney and Star TV. One of the challenges in India is the ability to monetize online content. Research suggests that the Advertising-led Video on Demand (AVOD) model is far more popular than Subscription-led video on demand (SVOD) models given the reluctance of viewers in India to pay for online content. While about 60% of total video viewing in India happens on YouTube, Netflix has 40 Mn monthly active users. Disney Plus Hotstar too has reached the critical mass with its freemium model, well-supported by relevant collaborations, such as sports (read cricket), which drives volume. Also, a KPMG study reveals that, unlike the West, only 10% of viewers access OTT platforms for watching original content. Rather, OTT is used primarily for the convenience of anytime and personal viewing of movies, music, sports or to catch-up with TV content. Driving OTT Growth in India As a country with a population of 1.23 billion, India is the next big market for OTT platforms. Some of the growth drivers for OTT players in India, based on the precedent from the West include: ● Investments in Content Video streaming services are expected to spend around ₹1,920 crore to create original content for India in 2021, driven in part by the sharp rise in audiences during the 2020 lockdown. The platforms will further increase spends, including on sports, to ₹30,000 crore, during 2021-25, according to the latest FICCI-EY media and entertainment industry report. Around 500 original titles are likely to be released in 2021 across platforms, as opposed to 385 titles in 2019 and 220 in 2020. The investment in original content makes sense given that viewers are learning to pay for the content they consume, especially original content. In 2020, 29 million subscribers paid for 53 million OTT video subscriptions (not counting subscriptions bundled along with data plans), a figure that is estimated to increase to 39 million subscribers for 71 million subscriptions in 2021. Netflix has more than 40 originals scheduled for 2021 and is expanding its slate by nearly three times compared to 2020. Amazon Prime Video has 50 local originals in various stages of development and 30 in various stages of production. Demand for original content will likely double by 2023 compared to 2019 levels. ● Content – the New Battlefield for Viewers Increasing number of consumers from tier-2 and tier-3 cities have spurred the production of regional content. Alt Balaji has seen a change after the pandemic. Before the pandemic, the top 8 cities in India contributed to 70% of their total audience; post-April 2020, 60% of the traffic is from other tier-2 and tier-3 cities. Old favourite shows are being re-aired on OTT platforms, while investments in new content production continue. Recently Amazon announced the acquisition of MGM, for $8.45 billion, giving it access to MGM’s library of 4000 film titles and 17,000 TV shows. We have witnessed the emergence of a wide variety of content including Indian content since India has a diverse market with over a dozen languages that are widely spoken across the country. OTT players are shifting their focus towards localisation of their platforms, to be able to connect with the Indian users, be it in terms of regional languages, geography and user experience etc. India already has about 40 OTT players and 10 music streaming apps in existence catering to various entertainment and media demands. This has opened the doors for OTT platforms to promote regional and hyperlocal content. In fact, a leading OTT player recently released 11 shows during the lockdown- all locally curated shows. The share of regional language consumption on OTT platforms is expected to cross 50% of total time spent by 2025, easing past Hindi at 45%. ● Government Regulations The Ministry of Information and Broadcasting (MIB) has, in the past year, stressed the need for some form of regulation of OTT Platforms to streamline the sector. In this regard, the MIB recently notified the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules 2021. The new rules require OTT platforms to set up a robust three-tier grievance redressal mechanism. The first level will comprise regulation by the OTT Platform itself through a grievance officer. The second level will be an institutional self-regulatory body formed by publishers of content and their associations. This self-regulatory body will comprise industry experts headed by a retired Supreme Court/ High Court judge /eminent personality in the relevant field. At the third level is an inter-department committee constituted by the MIB that will provide oversight and hear appeals for decisions taken at level two or if a complaint is referred to the inter-department committee by MIB. Regulation might help improve the quality of content in the future. ● The Future of OTT - New Applications and Content Innovations There is no doubt that the future of <keyword id="6357922" type="General" weightage="20" keywordseo="television" source="Orion">television</keyword> is OTT, and the industry is at a nascent stage. Content is the force that defines the direction of evolution in the industry. New applications such as learning, education and fitness are being explored. Pricewaterhouse Coopers reported that in 2018, more than 40% of new internet users in the world were children. Edtech platforms like Byjus and Unacademy use the OTT streaming approach for education. Similarly, possible applications for learning management in corporations are being explored. While fitness was never considered an activity that could be done remotely, the pandemic saw this notion change. According to a Bobble.AI report, besides video conferencing apps and websites, fitness applications such as Lose Weight, Cure.fit, recorded a 104.53% rise in daily active users. Video streaming platforms are also creating content to cater to this trend. Disney+ Hotstar has partnered with Brilliant Wellness, to introduce content from its fitness experts, yoga, and spiritual gurus. -- India’s large population and relatively young age demographics make the business environment dynamic and interesting. Digital savvy young consumers in India are spread over a wide geography and have a vast range of preferences, languages and appreciate multi-cultural entertainment. As content and technology come together to create a solution that caters to this unique business environment, OTT and streaming media are here to stay.

How India is ‘Cutting the Cord’ to drive an OTT revolution

<ul><li>The Indian government is not looking to ban cryptocurrencies, but to regulate them as ‘assets’.</li><li>All Indian crypto exchanges will reportedly come under the purview of the Securities and Exchange Board of India (SEBI).</li><li>Citizens will no longer be allowed to hold their crypto assets on foreign exchanges or in private wallets, according to the cabinet note seen by NDTV.</li></ul>The Indian government isn’t looking to ban cryptocurrencies in the country, but it is looking to regulate them — as ‘assets’. The country’s markets’ watchdog, the Securities and Exchange Board of India (SEBI), will be at the helm, according to a cabinet note seen by <a href="https://www.ndtv.com/business/all-private-cryptocurrency-will-be-regulated-not-banned-sources-2634414">NDTV</a>. This conforms to what Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> said earlier this week about Bitcoin not being recognised as a currency for payments in India. India is, however, working on its own central bank digital currency (CBDC) that will be governed and monitored by the Reserve Bank of India (<keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>). The note also reportedly highlights that citizens will need to declare their crypto assets and keep them on Indian exchanges. They will no longer be allowed to keep crypto on foreign exchanges or in private wallets. Once the bill becomes law, people will be given some time to transfer their holdings to meet these requirements. Failing to do so could result in penalties within the range of ₹5 crore to ₹20 crore. Moreover, India has plans to amend its Prevention of Money Laundering Act (PMLA) to make provisions for cryptocurrency activity. According to Sitharaman, the government is closely monitoring the risks that cryptocurrencies present. Even Prime Minister Narendra Modi highlighted the volatile nature of digital tokens in November, calling on global cooperation from democratic nations to regulate the sector and protect the youth. “The industry has been actively communicating with all stakeholders keeping investor protection at the forefront,” Ashish Singhal, the founder and CEO of CoinSwitch Kuber and the co-chair of the Blockchain and Crypto Assets Council (BACC), told Business Insider India. <cmsannotation type="cmsannotation" annotationid="Where does India’s crypto bill stand?" comment="subhead" text="Where does India’s crypto bill stand?">Where does India’s crypto bill stand?</cmsannotation> India’s proposed laws on how to regulate cryptocurrencies and other aspects of the crypto sector — including decentralised autonomous organisations (DAOs), non-fungible tokens (NFTs), and the metaverse — is on the agenda of the ongoing session of Parliament in the lower house, the Lok Sabha. According to Sitharaman, the bill is pending approval from the Cabinet before it can be introduced to the Members of Parliament (MPs). “Even if the bill is 30-40% positive, investors — family offices, traditional VC firms — will put more money into India, if something positive comes out,” WazirX’s head of public policy, governance issues and content, Aritra Sarkhel, told Business Insider during a sponsored webinar. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/the-lawyer-behind-getting-indias-2018-crypto-ban-quashed-hasnt-ruled-out-going-to-court-again/articleshow/88042758.cms">The lawyer behind getting India’s 2018 crypto ban quashed hasn’t ruled out going to court again</a>

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For Facebook and Twitter, the changes to India's IT (Amendment) Act is just what the doctor ordered — or not

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The likes of Hotstar, Netflix and even news content providers will now be regulated by the I&B Ministry, contrary to what the platforms would like

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No crypto ban in India — SEBI will reportedly be pulled in to regulate the sector

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