Entities misusing or failing to protect digital data users may face penalty of up to Rs 250 crore under the Digital Personal Data Protection Bill 2023. The bill was laid down the obligations of entities handling and processing data as well as the rights of individuals. The bill which was introduced in Parliament today moots the creation of the Data Protection Board of India and provides protection to the Centre.
The Reserve Bank of India has imposed penalties on five cooperative banks, on September 5. The penalty of Rs 25 lakh has been imposed on The Karnataka State Co-operative Apex Bank, Rs 15 lakhs on Thane Bharat Sahakari Bank Limited, Rs 5 Lakh Rani Laxmibai Urban Co-operative Bank, Jhansi, Rs 2 lakh on Nicholson Co-operative Town Bank and Rs Urban Co-operative Bank, Rourkela, for irregularities and other illegality,.
Courtesy: The Free Press Journal
The market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 3 lakh on BSE for engaging in activities unrelated to a stock exchange. “This is to inform that pursuant to Regulation 30 read with Schedule Ill of SEBI Regulations, 2015, we intimate that SEBI has passed an order, imposing a penalty of Rs. 3 lakhs on BSE Limited." said SEBI in a statement.
Courtesy: Business Today
Supreme Court issued a four-month prison term on July 11 for contempt of court to tycoon Vijay Mallya, who was charged in a case involving his bankrupt Kingfisher Airlines and a bank loan default totaling over Rs 9,000 crore. Mallya was also fined Rs 2,000. The Supreme Court postponed its decision in the case on March 10, stating that the proceedings against Mallya had reached a "dead wall."
Courtesy: DNA INDIA
Directorate General of Civil Aviation (DGCA) penalized Indigo Rs 5 lakh on May 28 after the airline denied boarding to a specially-abled youngster at Ranchi airport. A traveler waiting at the airport reported it on Facebook. IndiGo later stated that the boy “could not board the flight…as he was in a state of panic." The DGCA did not consider the airline company's response adequate and proceeded to penalize it.
Courtesy: The Indian Express
Former US President Donald Trump has paid $110,000 in penalties on May 19 after being found in contempt of court for failing to reply to a civil warrant issued by the attorney general of New York. To get the contempt order removed, Trump must file further documentation. James, a Democrat, has claimed that her three-year inquiry found evidence that Trump's firm misrepresented asset values. The charges were denied by Trump.
Courtesy: Indian Express
The deadline for filing income tax returns will not be extended beyond the current deadline of December 31, said the Central government. Informing the development, Revenue Secretary Tarun Bajaj said people have so far filed more returns than the previous year. Reportedly, if anyone didn't meet the deadline, the'll have to pay a penalty. Notably, the government has already extended the deadline two times earlier in the year.
Courtesy: Zee News
The Reserve Bank of India (RBI) imposed a fine of Rs 1.8 crore on the Punjab National Bank and Rs 30 lakh on ICICI Bank. The amount has been penalised for deficiencies in regulatory compliances under the Banking Regulation Act, 1949. In an official statement, RBI said, the PNB held more than 30% shares in borrowers companies, whereas in the case of ICICI Bank, they violated compliance rule.
The Punjab Cabinet on November 7 approved an amendment in the 'Punjab Learning of Punjabi and other Languages Act, 2008' which makes Punjabi a compulsory subject for students of first to tenth class in Punjab. The amendment also increased the penalties under the act. Reportedly, authorities will impose a fine of Rs 50,000 on the first mistake, and Rs 1 and 2 lakh on the second and third mistakes.
Courtesy: Zee News
India lost 0-1 to hosts United Arab Emirates (UAE) in the second game of the AFC U-23 Championship Qualifiers at the Fujairah Stadium in Dubai on October 27. Igor Stimac made just one change to the lineup that beat Oman 2-1 in their previous match, bringing in Lalengmawia in place of Aniket Jadhav. Due to an 82nd-minute spot-kick by Abdulla Idrees, the UAE managed to beat India.