Govt likely to issue clarifications on India IT rules, officials say

New Delhi: The government is likely to offer detailed guidelines on the procedure to be followed by law enforcement agencies seeking information or content takedowns from social media platforms like Facebook or Twitter, according to top officials. This will form part of the clarifications to the intermediary guidelines that are being worked out by the Union Ministry of Electronics and IT, they said. This will also address a key industry


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Paytm Payments Bank crosses 1-crore FASTags mark

Paytm Payments Bank on Wednesday said it has become the first bank in the country to achieve the milestone of issuing 1 crore FASTags. According to NPCI, over 3.47 crore FASTags were issued by all banks together till the end of June 2021. Paytm Payments Bank (PPBL) now has close…

Read more: Paytm Payments Bank crosses 1-crore FASTags mark

Yes Bank, Indiabulls Housing Finance to give home loans under co-lending model

Yes Bank and Indiabulls Housing Finance have come forward for a strategic co-lending tie-up to source and service home loans. Under this strategic co-lending agreement, they will offer home loans to homebuyers at competitive interest rates, Yes Bank and Indiabulls Housing Finance said in a joint release on Wednesday. The…

Read more: Yes Bank, Indiabulls Housing Finance to give home loans under co-lending model

RBI imposes Rs 5 crore penalty on Axis Bank

The Reserve Bank of India (RBI) on Tuesday said it has imposed a penalty of Rs 5 crore on Axis Bank for contravention of certain provisions of directions issued by the RBI, including on cybersecurity framework. The penalty has been imposed for “contravention of/non-compliance” with certain provisions of directions issued…

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Large govt capex a possible saving grace for economy in FY22: Yes Bank chairman Sunil Mehta

The Indian economy is expected to face some pressure in the current financial year due to the second wave of the pandemic, coupled with weaker consumer sentiment, but a large capex by the government can be a saving grace for the economy, Yes Bank Chairman Sunil Mehta said. Large government…

Read more: Large govt capex a possible saving grace for economy in FY22: Yes Bank chairman Sunil Mehta

Twitter to offer 'bounty' to find algorithmic bias

Twitter said Friday it would offer a cash “bounty” to users and researchers to help root out algorithmic bias on the social media platform. The San Francisco tech firm said this would be “the industry’s first algorithmic bias bounty competition,” with prizes up to $3,500. The competition is based on…

Read more: Twitter to offer 'bounty' to find algorithmic bias

Delivery startup Gopuff valued at $15 billion after latest fundraising

U.S. delivery startup Gopuff said on Friday it raised $1 billion in a funding round that included Guggenheim Investments, Hedosophia and SoftBank Vision Fund 1, valuing the company at around $15 billion. The new valuation represents a near 69% jump from $8.9 billion that the company was valued at, after…

Read more: Delivery startup Gopuff valued at $15 billion after latest fundraising

Elon Musk says "Epic is right," takes sides in battle with Apple

Tesla Chief Executive Officer Elon Musk on Friday showed his support for “Fortnite” maker Epic Games that has challenged Apple’s fees on its App Store. “Apple app store fees are a de facto global tax on the Internet. Epic is right,” he said in a tweet. Apple app store fees…

Read more: Elon Musk says "Epic is right," takes sides in battle with Apple

Russia opens case against WhatsApp for violating personal data law

Russia on Friday launched administrative proceedings against Facebook‘s WhatsApp for what it said was a failure to localise data of Russian users on Russian territory, the Interfax news agency reported. There was no immediate comment from Facebook. A day earlier, a Russian court fined Alphabet’s Google 3 million roubles for…

Read more: Russia opens case against WhatsApp for violating personal data law

Indian government readying info bank for startups

Convenience factor drives online sales of mobile phones, FMCG products

Chai Waale bags Rs 5 crore from angel investors

ED attaches Rs 5-crore worth assets in Bengaluru Syndicate Bank branch fraud case

Convenience factor drives online sales of mobile phones, FMCG products

Foreign card payment companies may have to shell out more taxes once data servers are set up

New CXO hires at startups keen to ride Esop wave

OfBusiness turns unicorn post SoftBank-led $160 million funding

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