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Sebi’s crackdown on finfluencers unlikely to stop fraud: Experts
Economic Times
·
1y ago
Medial
Market regulator Sebi's attempt to regulate social media-based financial influencers, known as "finfluencers," may not effectively target fraudulent individuals operating online, according to founders of wealthtech companies. While Sebi's initiative is a step in the right direction, there are concerns that it may not accurately address the issue of fraudulent practices in the influencer community. Sebi's chairperson recently invited finfluencers to come forward and comply with regulations.
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MC Explains | Groww case: What are the key learnings for investors?
Money Control
·
1y ago
Medial
A social media post by an investor claiming that investments made on the fintech platform Groww never reached the fund house went viral. Groww clarified that no fraud occurred and explained that the customer's money was not deducted and the mutual fund transaction did not happen. The incident raised concerns about investments on wealth-tech platforms. The issue was attributed to a reconciliation problem, but experts believe that such cases are unlikely to happen again due to updated MF regulations. Investors are advised to crosscheck purchase confirmations and regularly monitor their investments.
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Sebi to curb finfluencers to help investors get accurate, unbiased information
Economic Times
·
1y ago
Medial
Moves proposed by Sebi last month not only ensure that investors receive accurate and unbiased information but also help in preserving authenticity and reducing fraud, Anand Rathi Wealth Deputy CEO Feroz Azeez told PTI.
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‘Even stronger’ than imagined: DOJ’s sweeping Apple lawsuit draws expert praise
The Verge
·
1y ago
Medial
The Department of Justice (DOJ) has filed a lawsuit against Apple, accusing the company of engaging in illegal monopolistic behavior. The complaint alleges that Apple's actions have created a pattern of behavior that harms consumers and makes it difficult to switch from their ecosystem. Experts believe that the DOJ has made a strong case for consumer harm, which was lacking in previous antitrust suits against tech giants. However, proving Apple's dominance and determining effective remedies may pose challenges for the government. The court will also need to consider Apple's arguments for legitimate business reasons behind their decisions. While a breakup of the company is unlikely, injunctive relief to stop the alleged harmful behavior may be sought as a remedy.
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Techies’ American dream fast turning into desi nightmare
Economic Times
·
3m ago
Medial
Indian engineers in the US, particularly on H-1B visas, face growing uncertainty due to tech sector layoffs and immigration challenges. Layoffs, termed "Liberation Days," have hit US startups and hardware firms. Experts warn of potential future workforce reductions. Indian H-1B holders, comprising 72.3% of issued visas, are significantly impacted. Legal and staffing experts advise upskilling and adapting, noting remote work opportunities in India amid visa and economic shifts. Despite challenges, immediate visa policy changes seem unlikely.
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The BBC cracks down on AI scraping.
The Verge
·
1m ago
Medial
The BBC is threatening legal action against AI start-up Perplexity for using its content to train AI, with claims that the Perplexity chatbot reproduced BBC content verbatim. This marks the first time the BBC has taken such action, demanding Perplexity stop scraping content, delete infringing material, and provide financial compensation. This crackdown highlights growing tensions between AI companies and traditional media over content use and intellectual property rights.
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Trade Spotlight: How should you trade SBI Life, Max Financial Services, BEML, Asahi India Glass, City Union Bank, and others on Muhurat trading day?
Money Control
·
9m ago
Medial
Here are some top buy ideas for Muhurat Trading Day: 1. Asahi India Glass: Recently broke out of a descending parallel channel with strong volume, indicating a continuation of its bullish trend. Target: Rs 825. Stop-Loss: Rs 715. 2. Vedant Fashions: Currently in a long-term uptrend after breaking out of a consolidation range. Target: Rs 1,540. Stop-Loss: Rs 1,335. 3. BEML: Consolidating within a wide range, showing potential for a breakout. Target: Rs 4,490. Stop-Loss: Rs 3,880. 4. City Union Bank: Retesting its breakout with high buying volumes, confirming a potential upward move. Target: Rs 187. Stop-Loss: Rs 170. 5. Laurus Labs: Broke out of a double bottom pattern with significant buying. Target: Rs 518. Stop-Loss: Rs 478. 6. Max Financial Services: In a strong uptrend, respecting its 50-day EMA. MACD indicator suggests further bullish movement. Target: Rs 1,350. Stop-Loss: Rs 1,250. 7. IRB Infrastructure Developers: Expected to break out from its rangebound formation for an upward move. Target: Rs 56. Stop-Loss: Rs 49. 8. SBI Life Insurance Company: Witnessed profit booking, but found support near important retracement zone. Revival of uptrend expected. Target: Rs 1,730. Stop-Loss: Rs 1,560. 9. Punjab National Bank: In oversold territory near its demand area, suggesting a rebound and upward move. Target: Rs 106. Stop-Loss: Rs 93. Disclaimer: These are the views of investment experts and it is recommended to consult certified experts before making any investment decisions.
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SEBI Plans Rules for Unregistered Finfluencers
StartupTalky
·
1y ago
Medial
The Securities and Exchange Board of India (SEBI) is considering implementing guidelines to regulate financial influencers, or "finfluencers," who provide investment advice and financial information on platforms like Instagram and YouTube. SEBI aims to bring transparency and accountability to the financial services space by ensuring that finfluencers disclose any paid promotions or connections to the products they endorse, adhere to regulations, provide accurate information, and prioritize financial education. Adjudicating the definition of finfluencers and addressing legal challenges present potential obstacles to effective enforcement. This move comes as the popularity and influence of finfluencers continue to grow.
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Banks can flag fraud despite IBC shield: NCLT
Economic Times
·
25d ago
Medial
The National Company Law Tribunal (NCLT) clarified that a moratorium under the Insolvency & Bankruptcy Code (IBC) doesn't stop banks from labeling accounts as fraudulent, a decision it views as an administrative action. This ruling, involving Rolta India and the Bank of India, highlights that fraud identification and the Corporate Insolvency Resolution Process (CIRP) are separate matters. The tribunal emphasized bank discretion in fraud classification, impacting future litigation strategies and regulatory approaches.
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Trump’s attacks on green energy are big trouble for data centers, AI
Arstechnica
·
3m ago
Medial
The Trump administration's crackdown on renewable energy could negatively impact data centers' growth, AI development, and the ability to meet power demands, industry experts warn. The suspension of clean energy projects increases reliance on fossil fuels, raising costs and potentially slowing technological progress. This policy shift might undermine the U.S.'s position in the global AI race, as data centers demand significant power increases by 2030. The tech industry advocates for maintaining renewable energy expansion to prevent setbacks.
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Government’s paltry tax sops unlikely to steer GCCs to a safe harbour
Economic Times
·
4m ago
Medial
The expansion of the turnover threshold to Rs 300 crore under India's safe harbour tax rules for global capability centres (GCCs) is viewed as insufficient by industry experts. Although it aims to ease doing business, the increase from Rs 200 crore falls short of Nasscom's recommended Rs 2,000 crore. This change is unlikely to significantly impact tax-related uncertainties, with most companies opting out due to litigation fears. Experts suggest a higher threshold and tax standardization for better results.
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