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News on Medial
Parliament passes The Carriage of Goods by Sea Bill, 2025
Economic Times
·
2d ago
Medial
The Indian Parliament passed the Carriage of Goods by Sea Bill, 2025, to overhaul the maritime legal framework by replacing the 1925 Act. This new legislation aligns with international conventions and aims to simplify complex maritime regulations. It grants the government powers to issue directives and amend rules to adapt to evolving trade practices. The Bill seeks to improve transparency, assign responsibilities, and safeguard parties involved in shipping, promoting ease of doing business.
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FM Sitharaman cuts import duties to zero on EV battery parts
Inshorts
·
4m ago
Medial
Finance Minister Nirmala Sitharaman has waived off import duties on EV battery components, reducing them to zero. With these efforts, domestic manufacturing is poised to grow significantly. The announcement came on March 25, 2025, ahead of the Finance Bill 2025's passage in parliament, the move aims at fostering local production and increasing global competitiveness.
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US Senate passes stablecoin bill in milestone for crypto industry
Economic Times
·
1m ago
Medial
The US Senate has passed the GENIUS Act, a bill establishing a regulatory framework for stablecoins, marking a significant development for the digital asset industry. The bipartisan-supported bill, approved by a 68-30 vote, needs House approval before reaching the president. If enacted, it would require stablecoins to be backed by liquid assets and publicly disclose reserve compositions. The bill aims to provide a regulatory regime for stablecoins, fueling broader use and addressing financial stability concerns.
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U.S. House passes revised bill to ban TikTok or force sale
TechCrunch
·
1y ago
Medial
The US House of Representatives has passed a bill that would require the sale of popular social media app TikTok or face a ban in the country. The bill provides ByteDance, TikTok's parent company, with a nine-month window to sell the app, with an additional 90-day extension possible. The bill received overwhelming support from both Republicans and Democrats. If passed by the Senate, President Joe Biden has indicated he will sign it. TikTok is expected to challenge the bill in court if it becomes law. Concerns over national security threats and data privacy have been cited as reasons for the proposed ban.
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Tax reforms to follow simplification bill
Livemint
·
22d ago
Medial
The Income Tax Bill, 2025, aims to simplify the over-60-year-old Income Tax Act of 1961 and will be introduced in the monsoon session of Parliament. This initiative seeks to set the stage for future substantive reforms in direct tax laws, focusing on personal and corporate income taxation. The finance ministry believes that a simplified and more readable law will facilitate targeted reforms through subsequent annual Finance Acts.
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Lok Sabha Passes Digital Personal Data Protection Bill, 2023
Startup News FYI
·
2y ago
Medial
In a significant move to safeguard citizens’ privacy rights, the Lok Sabha has successfully passed the long-awaited Digital Personal Data Protection (DPDP) Bill on Monday, August 7, 2023. The bill was presented by the Minister for Electronics and Information Technology, Ashwini Vaishnaw, and comes after extensive consultations with various stakeholders, garnering feedback on the draft.
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US House overwhelmingly passes TikTok ban bill
Economic Times
·
1y ago
Medial
The US House of Representatives has passed a bill that could force TikTok to divest from its Chinese owner, ByteDance, or face a ban in the United States. The legislation gained bipartisan support and threatens the popular video-sharing app's future in the country. However, the fate of the bill remains uncertain as it moves to the Senate, where some lawmakers are hesitant about taking such drastic action against an app with 170 million US users. The bill also grants the president the power to designate other applications as national security threats. TikTok's parent company has 180 days to sell the app or risk being barred from app stores in the US.
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Signal, Mozilla, Proton term telecom bill a threat to the internet & democracy
Inc42
·
1y ago
Medial
A consortium of 61 global digital companies and organizations, including Mozilla, Proton, and Signal, has expressed concerns about the new Telecommunications Bill in India, stating that it poses a grave threat to democracy and the internet. The bill, recently approved by both houses of the Indian Parliament, is criticized for jeopardizing encryption, enabling government internet shutdowns, and enhancing surveillance. The group has called on the Indian government to repeal the bill and engage in inclusive discussions to protect privacy, security, and an open internet.
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Porter booked in K'taka for operating, showing ads without permit
Money Control
·
1y ago
Medial
The Karnataka Transport Department is taking legal action against Porter and its drivers for operating without securing a proper goods carriage permit, according to Additional Commissioner for Transport C Mallikarjun. He mentioned that Porter has also been placing advertisements on their vehicles without the necessary authorization. In the last week, more than 100 cases have been filed against Porter drivers in Bengaluru, Mallikarjun noted.
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Karnataka Passes Bill To Levy 2% Cess On OTT Subscriptions
Inc42
·
1y ago
Medial
The Karnataka assembly has passed a bill proposing a cess of up to 2% on OTT subscription plans. Authorities are currently working on the details and preparations have started for drafting rules for the implementation of the bill. The state is planning to seek feedback from the public and stakeholders to ensure smooth collection of the cess on OTT plans.
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No hurdle likely in Max Financial merger plan: Axis Max Life
Economic Times
·
2h ago
Medial
Axis Max Life Insurance anticipates no regulatory issues with its merger plan with Max Financial Services, contingent upon the passing of a new insurance bill. The bill, which Parliament must approve, amends Section 35 of the Insurance Act to permit mergers between insurance and non-insurance companies with regulatory consent. The merger process, led by the National Company Law Tribunal, is expected to take 8 to 12 months, according to Axis Max Life's CEO, Prashant Tripathy.
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