Norms

Credit: Pixabay/CC0 Public Domain Not long ago, a team of researchers made a startling discovery about attitudes toward women in Saudi Arabia. Most young married men in the country were privately in favor of women working outside of the home but mistakenly believed that a majority of their peers were not. After being told that most…

Image used for representational purpose only. (Photo: Reuters) Meanwhile, some reports say that leading car manufacturers such as Toyota and Honda already started working on a plan to minimize vehicular pollution.In a view to control pollution, and provide a cleaner environment for people, the Union road transport minister Nitin Gadkari requested all the vehicle manufacturers to start working on the next generation BS-7 compliant automobiles.He also urged the auto industry not to wait for any push by the government or any…

India is considering using valuation criterion established by the Foreign Exchange Management Act (FEMA) for angel tax on foreign investments, a move that could potentially bring relief to Indian startups. This and more in today’s ETtech Morning Dispatch, which is loaded with exclusives you won't find anywhere else.Also in this letter:■ VC fund Chiratae marks final close of maiden growth fund■ Majority IAMAI members opposed to separate competition law■ NCLAT ruling leaves App Store providers disappointedExclusive:…

India may accept the valuation criterion followed under the foreign exchange management law for the so-called angel tax on investments by overseas investors in startups, to provide clarity and end tax disputes.The Reserve Bank of India (RBI) administered Foreign Exchange Management Act (FEMA) accepts valuation by a Sebi-registered Category 1 merchant banker using any internationally accepted pricing methodology applied on an arm’s length basis.Tax authorities are considering adopting the same, among other options, for…

Google took action against over 3,500 loan apps in India in 2022 for violating Play Store policy requirements, the company said on Thursday.Google said that overall it prevented 1.43 million policy-violating apps from being published on Google Play banning 173,000 bad accounts preventing over USD 2 billion in fraudulent and abusive transactions in 2022. "In India, in 2022, we have reviewed and taken necessary enforcement action, including removal of apps, on more than 3,500 personal loan apps for violations of the Play…

Reserve Bank's regulation on outsourcing of IT services by banking sector entities is aimed at improving corporate governance and will protect the interest of consumers, say industry experts. The Reserve Bank of India (RBI) has recently come out with detailed norms for the outsourcing of IT services by banks, NBFCs and other regulated financial sector entities to ensure that such arrangements do not undermine their responsibilities and obligations to customers. These norms came in the backdrop of the current practice of…

Tata Motors has upgraded its passenger vehicle portfolio to conform to stricter emission norms while Maruti Suzuki India and Mahindra & Mahindra are confident of transitioning their respective product range before the April 1 deadline.The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real-time driving conditions.Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to…

Mumbai: The Reserve Bank of India on Friday said it has imposed a penalty of over Rs 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC requirements," the RBI said in a statement. The RBI had issued a notice to Amazon Pay (India) advising it to show cause as to why penalty should not be imposed for…

The Reserve Bank of India (RBI) has imposed a penalty of Rs 3.06 crore on Amazon Pay (India) Pvt Ltd for non-compliance with certain provisions of the Prepaid Payment Instruments (PPIs) guidelines.RBI said in a statement on Friday that “it was observed that the entity was non-compliant with the directions issued by RBI on Know-Your-Customer (KYC) requirements.” Amazon Pay is the payments arm of ecommerce giant Amazon India and provides services such as mobile recharges, and bill payments. It also distributes insurance and…

Ashwath Ram, MD, Cummins IndiaQ: With BSVI well settled now, what's the next set of new developments Cummins India is focussing on? How do you see the market progressing?Emissions norms are going to get tighter. Similarly fuel economy norms are also coming in with OBD C, along with OBD 2 which is going to start from April. It will move to phase two of the BSVI emission norm. The emission laws are getting more stringent than earlier. And fuel economy norms are also set in which means to get a lot more efficiency out of…