Storyboard18 presents FAST FIVE ⬇
We bring you top five news updates from the world of advertising, marketing and business of brands.
“Don’t ban us, regulate us”: Opinion Trading platforms demand regulations
The rapid rise of opinion trading platforms in India has sparked intense debate over their legality and regulations. While some view them as skill-based financial instruments, others argue they resemble gambling. However, the opinion trading companies now urge the government to regulate them.
The New Indian Consumer Initiative (NICI) PEN Media Literacy in its latest workshop has decided to send a joint representation letter to the Ministry of Consumer Affairs, the Ministry of Information & Broadcasting, the Ministry of Finance, SEBI, and ASCI, urging a ban on opinion trading platforms in India.
MIB warns OTT platforms against publishing obscene, pornographic content
The Ministry of Information and Broadcasting (MIB) issued an advisory on Wednesday, directing OTT platforms to comply with regulations and refrain from publishing obscene, pornographic, or vulgar content on online curated content (OTT platforms) and social media. This is second advisory issued for OTT platforms by MIB in last two months.
This advisory was prompted by recent controversy surrounding India’s Got Latent. The ministry stated that it has received concerns from Honorable Members of Parliament, statutory organizations, and public grievances regarding content on OTT platforms which spread obscene, pornographic and vulgar content published on OTT and social media platforms.
Sensationalism vs. Substance: Industry raises concerns over YouTube’s algorithmic choices
As challenges mount for Ranveer Allahabdia with the Supreme Court slamming him for his choice of words during a YouTube show and restricting him from doing more shows, top media voices are also questioning the role of digital platforms in regulating content.
Calling out the ‘big-tech’ giants as real culprits, many have remarked that digital platforms like YouTube take cover under digital intermediary laws that allow them to flout all responsibility and accountability, and let them favour sensationalism over substance.
Maruti Suzuki sets ambitious expansion plan for India, eyes market leadership in EVs
Maruti Suzuki, India’s leading automaker, has unveiled an ambitious mid-term management plan that aims to solidify its dominance in the Indian market while expanding its footprint in electric mobility and sustainable technologies.
The plan, released by Suzuki Motor Corporation, highlights India’s crucial role as the company’s primary growth engine. Maruti Suzuki is targeting a 50% market share in India’s automobile industry and is set to ramp up its annual production capacity to four million units, including increased exports from the country. A new manufacturing facility in Kharkhoda, Haryana, alongside the expansion of its Gujarat plant, will support this capacity surge.
India’s app block order on Google Play Store: 119 targeted, 15 down, developers in the dark
The Ministry of Electronics and Information Technology (MeitY) has ordered the blocking of 119 apps, primarily video and voice chat platforms, linked to developers in China and Hong Kong. However, as of February 20th, only 15 of these apps have actually been blocked in India, according to Moneycontrol. The remaining apps, along with a smaller number originating from Singapore, the US, the UK, and Australia, remain available for download.
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