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The Economic Times, Nov 21, 2019 The government is finalising new IT rules for social media companies that would mandate traceability of originator of information on such platforms and removal of malicious content within 24 hours of notice, Parliament was informed on Thursday. The proposed new norms include deployment of technology-based automated tools or appropriate mechanisms for proactively identifying and removing or disabling public access to unlawful information or content, Minister of State for Electronics and IT Sanjay Dhotre said in a written reply to the Rajya Sabha on Thursday. In December last year, the information technology ministry had sought public feedback on amendments to IT Rules for social media platforms and messaging apps in a bid to curb misuse of such platforms for spreading fake news. "MeitY received 171 comments and 80 counter comments from individual, civil society, industry associations and organisations. The comments so received have been analys...

Economic Times,  Updated: Nov 21, 2019 Country's largest power producer NTPC may make an aggressive bid of about Rs 10,000 crore to buy out the Centre's stake in two hydro power producing companies - NEEPCO and THDC, two persons having knowledge of the development said.  The Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared strategic disinvestment in the two hydroelectric power generating PSUs in favour of NTPC that is looking to expand its operations and boost the renewable portfolio. One of the persons quoted above said that the thermal power generator may offer close to Rs 10,000 crore though the transaction advisor will come to valuations about the entities later. The portfolio of projects with the NEEPCO and THDC make it a fit case to command good value.  The Centre holds entire 100 per cent stake in NEEPCO that operates close to 1,500 MW of power plants in the northeastern region, and has 75 per cent holding in THDC. The Uttar Pradesh gover...

India Today, November 21, 2019 The Supreme Court on Thursday told the Jammu and Kashmir administration that it will have to respond to each and every question raised on the restrictions imposed in the erstwhile state after the abrogation of Article 370. A bench headed by Justice NV Ramana told Solicitor General Tushar Mehta, appearing for the administration, that petitioners challenging the restrictions have argued in detail and he will have to answer all questions. "Mr. Mehta you have to answer each and every question raised by the petitioners who have argued in detail. Your counter affidavit does not help us to come to any conclusion. Don't give the impression that you are not giving enough attention to the case," said the bench, comprising Justices R Subhash Reddy and BR Gavai. Mehta said most of the averments made by the petitioners on restrictions are "incorrect" and he will respond to each and every aspect when he argues in court. The solicito...

Financial Express,   Published: November 21, 2019   Since the launch of the Pradhan Mantri Fasal Bima Yojana (PMFBY) in kharif 2016, there have been mixed reactions to the  Narendra Modi  government’s flagship crop insurance scheme from different stakeholders. While each of them — insurance and reinsurance companies, farmers, state governments, agricultural scientists, economists and media — have their own perception about the scheme, what is not in doubt, however, is the fact that it is very ambitious and probably an ‘ideal one’ any country should have. Also, the government has been very forthcoming in using technology, right from the process of registration of farmers to the settlement of claims and transferring of money to beneficiaries. The whole infrastructure for making this process a success may not have been in place from the start, but the individual pillars are being strengthened with each passing crop season and issues resolved through consens...

The Economics Times, November 20, 2019  PSBs reported fraud worth 958 billion rupees ($13.3 billion) from April to end-September of this year, the country's finance minister said on Tuesday, as the government struggles to help banks recoup losses.  State banks reported 5,743 cases of fraud in the period, most of which had taken place over the last several years, although 1,000 cases worth 25 billion rupees had just taken place, Nirmala Sitharaman told the upper house of parliament. "Government has taken comprehensive measures to curb the incidence of fraud in banks," the minister said.  Measures included the freezing of 338,000 bank accounts of inoperative companies in the last two financial years and the enactment of a law with a provision to confiscate the property of those found to have committed fraud and who have fled the country.  State Bank of India reported fraud of 254 billion rupees followed by Punjab National Bank of 108 billion rupees and Bank o...