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Paytm, Govt. on AI, Play Store, Electoral Bonds, CAA, Lay Offs, Apple, Reddit, etc.

Paytm, Govt. on AI, Play Store, Electoral Bonds, CAA, Lay Offs, Apple, Reddit, etc.

Vaishali Sharma
March 16, 2024

Paytm Partners with Major Banks for UPI Services After RBI Crackdown

NPCI approves One97 Communications for UPI third-party app, enabling Yes Bank and Axis Bank integration with Paytm.
Yes Bank and Axis Bank go live on Paytm, coinciding with RBI's deadline for PPBL to halt banking operations.
New Paytm UPI users to use handles from Yes Bank and Axis Bank, moving away from PPBL due to RBI's restrictions.
Yes Bank and Axis Bank begin with @ptyes and @ptaxis handles, planning to migrate existing @paytm users.
SBI and HDFC Bank to soon join the UPI integration, indicating a broader banking collaboration.
RBI allows PPBL to continue PSP services during the transition, critical for maintaining UPI's operational integrity.

Indian IT Ministry Revises AI Deployment Rules, Prioritizes Labeling and Consent

Rescinded Approval Requirement: The Indian government no longer requires AI models to seek explicit approval before deployment.
Advisory Update: New guidelines stress the importance of labeling AI outputs for reliability and fallibility.
Focus on User Consent: AI services must inform users about the potential unreliability of their outputs.
Initial Criticism: The original mandate faced global criticism for stifling innovation, particularly affecting startups.
Due Diligence by Intermediaries: Platforms are urged to prevent the sharing of unlawful content and to ensure AI does not promote bias or affect electoral integrity.
Guidelines for AI Content: New rules aim to manage AI-generated content, especially concerning 'deep fakes' in the upcoming general elections.

India Launches Antitrust Probe Against Google's Play Store Fees

India's antitrust body, the CCI, investigates Google for alleged unfair practices in its app store billing system.
Complaints from Indian developers about Google's in-app billing policies prompted the investigation.
The CCI's preliminary findings suggest Google's service fees of 10%-30% are excessive and discriminatory.
Google removed and later restored over 100 apps from Indian developers due to policy non-compliance.
The investigation focuses on Google's alleged economic value disparity and discriminatory policy implementation.
Google faces scrutiny in India, with previous fines imposed for anti-competitive practices.
Google defends its Play Store policies, highlighting investment in local markets and compliance efforts.

Electoral Bonds Exposed: The Big Players in Political Financing

Image source: India Today

Future Gaming & Hotel Services, founded by Santiago Martin, was the top purchaser of electoral bonds, buying bonds worth Rs 1,368 crore.
Megha Engineering & Infrastructure, a Hyderabad-based company, was the second-largest donor with Rs 966 crore in purchases.
MKJ Group, a diversified conglomerate from Kolkata, also made significant contributions through electoral bonds.
Qwik Supply Chain, involved in warehousing and storage, and Vedanta, a mining giant, were among the top donors.
Haldia Energy, part of the RP-Sanjiv Goenka Group, and Bharti Group, a telecom giant, also featured prominently in electoral bond purchases.
Essel Mining & Industries and Western UP Power Transmission, both involved in heavy industries, were also major contributors to political funding through electoral bonds.

Mobile application launched by MHA for CAA citizenship seekers.
India's CAA an internal affair, US commentary inappropriate: MEA
Import taxes reduced under India's EV policy, aiming to boost Tesla's entry and local manufacturing.
Indian banking sector to experience higher salary growth than in Singapore, Hong Kong.
Nationwide Rs 2 per litre reduction in petrol, diesel prices from March 15.
Volkswagen aims to introduce entry-level EV by 2027.
Highest hiring outlook in India for April-June, Manpower study finds.
Nitin Mittal, ZEE’s president and CTO, steps down.
Air India to lay off 200 employees in business restructuring move.
Supreme Court serves notice to SBI regarding Electoral Bonds, citing undisclosed Bond Numbers.