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Hospitals deal with over 950 compliances in a year: Reports Teamlease RegTech
Pharma biz | Our Bureau, Mumbai | Aug. 14, 2024
TeamLease, India’s leading Regulatory Technology (RegTech) solutions company, has released its report titled ‘Simplifying Compliance Management for Hospitals.’ The report presents a peak into the complexities that have plagued the hospitals in the country. It analyses the extant regulatory framework, discusses challenges and recommends action items to mitigate those complications.
Indian hospitals deal with over 950 compliances in a year, reveals report
Express Healthcare | EH News Bureau | Aug. 14, 2024
TeamLease Regtech, a Regulatory Technology (Regtech) solutions company, has released its report titled ‘Simplifying Compliance Management for Hospitals.’ The report presents a peak into the complexities that have plagued the hospitals in the country. The report analyses the extant regulatory framework, discusses challenges and recommends action items to mitigate those complications.
Hospitals in India face overwhelming compliance burden: Report
Health Economic Times | ETHealthWorld | Aug. 14, 2024
A recent report by TeamLease Regtech reveals that a single-entity 50-bed hospital with a
diagnostic center, radiology, pathology lab, and pharmacy, along with a corporate office in a
single state, must navigate 623 unique compliances annually. Of these, 421 (67.5 per cent) are
at the union level, 192 (31 per cent) are at the state level, and 10 (1.5 per cent) are at the
municipal level. Additionally, the hospital is required to obtain 100 licenses, permissions, and
approvals under 58 different acts.
Indian Hospitals Grapple with Over 950 Compliance Issues Annually, Report Reveals
Health and Family | Health and family | Aug. 14, 2024
Hospitals in India are burdened with an overwhelming number of compliance requirements, with a new report highlighting that they face over 950 compliance issues every year. The report, released by TeamLease Regtech, a regulatory technology solutions company, sheds light on the extensive regulatory complexities that Indian hospitals must navigate, potentially hindering their growth and efficiency.
Hospitals face maze of compliances: Report
The Hindu Business | PT Jyothi Datta | Aug. 13, 2024
The study guides hospitals on ways to stay on the right side of law, says Rishi Agrawal, Chief Executive Officer and co-founder of Teamlease Regtech, the company behind the study, which also highlights the rising corporatisation of the healthcare segment.
Indian hospitals deal with over 950 compliances in a year: Report
Ten News | Ten News | Aug. 13, 2024
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
Indian Hospitals Deal With Over 950 Compliances In A Year: Report
Menafn | IANS | Aug. 13, 2024
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
Indian hospitals deal with over 950 compliances in a year: Report
M Sakshi post | Sakshi Post | Aug. 13, 2024
New Delhi, Aug 13 (IANS) Hospitals in India face over 950 compliance issues in a year, according to a report on Tuesday.
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
Indian hospitals deal with over 950 compliances in a year: Report
Hiindia | Hiindia | Aug. 13, 2024
Hospitals in India face over 950 compliance issues in a year, according to a report on Tuesday.The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.Of these, 421 (67.5 per cent) are at the union level, 192 (31 per cent) are at the state level, and 10 (1.5 per cent) are at the municipal level.These compliances include at least 53 different types of licences, permissions, and registrations, the report said.“The healthcare sector is a critical part of our daily lives with over a billion consultations performed every year across the country. The sector employs about 8 million people and the demand for healthcare professionals is expected to double by the end of the decade,” said Rishi Agrawal, CEO, TeamLease RegTech
Indian hospitals deal with over 950 compliances in a year: Report
Bhaskar Live | IANS | Aug. 13, 2024
New Delhi, Aug 13 (IANS) Hospitals in India face over 950 compliance issues in a year, according to a report on Tuesday.
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
Indian hospitals deal with over 950 compliances in a year: Report
Social News | Gopi | Aug. 13, 2024
New Delhi, Aug 13 (SocialNews.XYZ) Hospitals in India face over 950 compliance issues in a year, according to a report on Tuesday.
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
Indian hospitals deal with over 950 compliances in a year: Report
Hans India | IANS | Aug. 13, 2024
New Delhi: Hospitals in India face over 950 compliance issues in a year, according to a report on Tuesday. The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country. The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
COMPLIANCE ISSUE | Indian hospitals deal with over 950 compliances in a year: Report
Punjab Page | Punjab Page | Aug. 13, 2024
NEW DELHI: Hospitals in India face over 950 compliance issues in a year, according to a report on Tuesday.
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
Indian hospitals deal with over 950 compliances in a year: Report
Desh Sewak | Desh Sewak | Aug. 13, 2024
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
As Indian healthcare sector hits $638B, hospitals face web of compliances
Medical Buyer | Medical Buyer | Aug. 13, 2024
The study guides hospitals on ways to stay on the right side of law, says Rishi Agrawal,
Chief Executive Officer and co-founder of Teamlease Regtech, the company behind the
study, which also highlights the rising corporatisation of the healthcare segment.
Indian hospitals deal with over 950 compliances in a year: Report
Pune News | Neel Shirodkar | Aug. 13, 2024
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions
company, presents a peak into the complexities that have plagued the hospitals in
the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic
centre, radiology, pathology lab, and pharmacy with a corporate office ina single
state needs to deal with 623 unique compliances.
Indian hospitals deal with over 950 compliances in a year: Report
Daiji World | Daiji World | Aug. 13, 2024
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
Indian hospitals deal with over 950 compliances in a year: Report
Weekly Voice | Voice | Aug. 13, 2024
New Delhi, Aug 13 (VOICE) Hospitals in India face over 950 compliance issues in a year, according to a report on Tuesday.The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
Indian hospitals deal with over 950 compliances in a year: Report
Lok Mattimees | IANS | Aug. 13, 2024
The report by TeamLease Regtech, a regulatory technology (Regtech) solutions company, presents a peak into the complexities that have plagued the hospitals in the country.
The report noted that a typical single-entity 50-bed hospital with a diagnostic centre, radiology, pathology lab, and pharmacy with a corporate office in a single state needs to deal with 623 unique compliances.
Hospitals Face 950+ Compliance Challenges Annually, Report Reveals
BW Healthcare World | BW Online Bureau | Aug. 13, 2024
TeamLease Regtech, a provider of Regulatory Technology (Regtech) solutions, unveiled a comprehensive report titled ‘Simplifying Compliance Management for Hospitals.’
The company in a press statement on Tuesday informed that the report sheds light on the intricate compliance challenges faced by hospitals across India, analysing the current regulatory framework and offering actionable recommendations to address these issues.
E-surveillance market rises as banks boost security for branches, ATMs
Business Standard | Raghu Mohan | Aug. 11, 2024
Last month, an enterprising duo covered themselves in bedsheets, sprayed paint on the CCTV camera inside a kiosk and used a gas-cutter to hack into an ATM of Axis Bank in Bengaluru. Gas-cutters were also used to disgorge an ATM of State Bank of India in Roorkee in November 2023
Under the watchful eye: How India is transforming into a ‘CCTV nation’
Indian Express | Bijin Jose | Aug. 7, 2024
India has seen a remarkable rise in the use of CCTVs over the past decade. With millions of cameras now monitoring streets, homes, and public places, a question that is being asked is: do these surveillance measures provide the necessary security, or do they infringe on personal freedoms?
How technology is paving the way in ease of doing business
Time Ascent | Rishi Agrawal | Aug. 7, 2024
Both Central and State governments have worked to simplify regulations, foster a business-friendly environment, embrace technology, and promote economic growth. As we look to maximize our 'Amrit Kaal' potential, building on these foundations is crucial.
Cyber security and Compliance: The Convergence of Regtech Solutions
PC Quest | PCQ Bureau | Aug. 1, 2024
Cyber security and compliance are essential in today's digital economy. As data and cyber threats grow, businesses must adopt robust cyber security frameworks and Regtech solutions to protect data and ensure a secure digital infrastructure.
Are AI-based Search Engines ready for Prime Time
Tech Circle | Shraddha Goled | Aug. 1, 2024
Sam Altman-led OpenAI became the latest entrant into the artificial intelligence (AI)-powered search engine market with the launch of SearchGPT. Still in the prototype stage, it combines AI models with web information to provide fast, timely answers with clear and relevant sources. The company wants to integrate its features into ChatGPT in the future.
ITR filing: What happens if you don't file tax return today?
MSN | India Today Business Desk | Aug. 1, 2024
As the July 31 deadline for filing income tax returns (ITR) ends today, many taxpayers find themselves scrambling to complete their submissions.
Given that today is the last date to file ITR for AY2-24-25 and there has been no word from the Income Tax Department on the possibility of an extension, it is crucial to understand the repercussions of missing the deadline.
ITR filing: What happens if you don't file tax return today?
India today | Koustav Das | Aug. 1, 2024
ITR filing deadline ends today
Missing deadline incurs penalties
Timely filing avoids scrutiny, allows revisions
As the July 31 deadline for filing income tax returns (ITR) ends today, many taxpayers find themselves scrambling to complete their submissions.
Given that today is the last date to file ITR for AY2-24-25 and there has been no word from the Income Tax Department on the possibility of an extension, it is crucial to understand the repercussions of missing the deadline.
Indian Fintech Revolution: Balancing Innovation With Governance In Changing Landscape
BW Security world | Prabhat Shukla | Aug. 1, 2024
Indian fintech companies have become frontrunners in transforming financial services. They’ve reimagined how financial transactions are conducted, investments managed, and products accessed. This shift is largely driven by advanced technologies such as artificial intelligence, blockchain, and data analytics. According to estimates, India’s fintech sector could be valued at $1 trillion, generating over $200 billion in revenue by 2030.
Who should file ITR-2? Step-by-step guide to file tax return online
Financial Express | Mithilesh Jha | July 25, 2024
ITR filing 2024 steps to file itr form 2 online: Income Tax Department notifies every year different ITR forms for income taxpayers based on income and other variables. ITR 1 and ITR 2 are among the very common forms used by most individuals taxpayers.
Startup ecosystem sweetened with abolition of angel tax
deccan herald | Anushree Pratap | July 25, 2024
Finance Minister Nirmala Sitharaman announced the complete abolition of the angel tax in her
presentation of the Union Budget 2024. The move was met with a unanimous hurrah from investors and startups alike.
Budget 2024: Here's how experts view Union Budget
Zee Biz | Zee Business | July 23, 2024
Indian Finance Minister Nirmala Sitharaman presented the seventh union budget in a row. From infrastructure to education, the budget focused on four major categories: farmers, poor, women, and youth. The FM also announced reforms in the new tax regime and made many changes in long-term capital tax and short-term capital tax rules.
Budget 2024 Reactions Highlights: Nothing in Budget speech gives us confidence that govt will seriously tackle issue of inflation, says Chidambaram
Indian Express | Express Web Desk | July 23, 2024
Senior Congress leader and former finance minister P. Chidambaram on Tuesday said the Budget speech had not given the assurance that the government would seriously tackle the issue of inflation. He further said that unemployment was the biggest challenge, adding that the Centre’s response to it was “too little”. Chidambaram had earlier taken a dig at the NDA government over the Union Budget, suggesting Finance Minister Nirmala Sitharaman might have borrowed ideas from the Congress’s 2024 manifesto after the Lok Sabha elections.
India Inc welcomes ‘all-round’ Budget 2024: ‘Growth, stability, tax reforms, jobs’
Live Mint | Alka Jain | July 23, 2024
India Inc welcomed the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in parliament on Tuesday. This is the first Budget of the BJP-led NDA government since its re-election in June and Sitharaman's seventh consecutive Budget for the fiscal year 2024-25.
Share Market Highlights 23 July 2024: Sensex, Nifty settle marginally down in volatile trade on eventful Budget day
business line | TEAM BL | July 23, 2024
Sensex, Nifty updates on 23 July 2024: Benchmark Sensex and Nifty settled marginally lower in volatile trade on Tuesday as the government proposed to hike securities transaction tax on futures & options in the budget for 2024-25. Recovering most of its intra-day losses of over 1,200 points, the 30-share BSE Sensex settled lower by 73.04 points or 0.09 per cent 80,429.04. The index gyrated between highs and lows during the day as Finance Minister Nirmala Sitharaman announced budget proposals for 2024-25. The barometer tanked 1,277.76 points or 1.58 per cent to hit a low of 79,224.32 as the minister announced a hike in STT on F&O trade and an increase in long-term capital gains tax on equities. However, tax exemptions and customs duty cuts helped boost consumer durables and FMCG shares, aiding stocks to recover from the day’s lows. Despite these changes, the budget introduced personal income tax relief for four crore salaried and pensioners, raising the standard deduction and revising the tax rate structure, aiming to benefit various sections of the population.
India Inc welcomes ‘all-round’ Budget 2024: ‘Growth, stability, tax reforms, jobs’
MSN | Live mint | July 23, 2024
India Inc welcomed the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in parliament on Tuesday. This is the first Budget of the BJP-led NDA government since its re-election in June and Sitharaman's seventh consecutive Budget for the fiscal year 2024-25.
Income Tax Slabs Rate 2024-25 Highlights: New Tax Regime made more attractive for small taxpayers with revised tax slabs, higher Standard Deduction | No changes in Old Tax Regime
Financial Express | Mithilesh Jha | July 23, 2024
Income Tax Slab Rate for FY 2024-25 for Salaried Person, Senior Citizens Live, New Tax Regime Slabs Live Updates: Finance Minister Nirmala Sitharaman presented her 7th straight budget in Parliament. Against expectations, the government has not made any big changes to tax slabs or structure in this budget.
Budget 2024: FM Nirmala Sitharaman abolishes ‘Angel Tax’ to support Indian startups
Live Mint | Alka Jain | July 23, 2024
Union Finance Minister Nirmala Sitharaman, while presenting her seventh consecutive Budget in Parliament on Tuesday, proposed to abolish the Angel Tax. She said the Indian startup ecosystem is buzzing with innovation and ambition, but Angel Tax often sparks debate.
Budget 2024: FM Nirmala Sitharaman abolishes ‘Angel Tax’ to support Indian startups
MSN | Live mint | July 23, 2024
Union Finance Minister Nirmala Sitharaman, while presenting her seventh consecutive Budget in Parliament on Tuesday, proposed to abolish the Angel Tax. She said the Indian startup ecosystem is buzzing with innovation and ambition, but Angel Tax often sparks debate.
Budget 2024 Highlights: FM disappoints investors, rewards (some) taxpayers
hindusthan times | Mallika Soni , Abhyjith K. Ashokan | July 23, 2024
Finance Minister Nirmala Sitharaman, in her seventh consecutive Union Budget for 2024-25, highlighted key priorities of the government. She listed nine priority areas for the government which are: productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development and next-generation reforms.
Income Tax Budget 2024: Relief For Salaried Class As FM Revises Tax Slabs, Should Taxpayers Shift To New Tax Regime?
News18 | Namit Singh Sengar | July 22, 2024
Finance Minister Nirmala Sitharaman hiked the standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more money in the hands of salaried class to boost consumption.
She said salaried employees in the new tax regime could save up to Rs 17,500 in income tax annually following the changes announced in the Budget.
Economic Survey 2024 Highlights: Survey shows prevailing strengths of our economy, says PM Modi
Money Control | Money Control | July 22, 2024
Economic Survey 2024 Highlights: Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024 in Parliament today. The survey projects the FY25 real GDP growth at 6.5-7%, with risks evenly balanced. It notes that market expectations are high and emphasises the potential impact of rising geopolitical uncertainties on capital flows.
Enhanced enforcement, govt help can help propel Indian organic food industry
deccan herald | Sonal Choudhary | July 22, 2024
Organic is the new buzzword in the food industry with rising awareness about the hazards of pesticides and fertilisers. Driven by conscious consumerism, demand for organic food produce is only increasing. From stand-alone brands to quick commerce app...
India Govt Budget 2024 LIVE: New Tax Regime Slabs Revised, Angel Tax Abolished, Allies In Bihar, AP Rewarded
One India | One India | July 22, 2024
As per the scheduled plan, the Finance Minister will first meet the President of India, then head to parliament by 10 am, where she will meet and brief Prime Minister Narendra Modi ahead of the session, and at around 11 am, she will table the Union Budget 2024.
Increased enforcement and government support can boost India’s organic food industry
Ginzadolo | Maisie | July 22, 2024
Organic is the new buzzword in the food industry as awareness about the dangers of pesticides and fertilizers is increasing. Due to conscious consumer behavior, the demand for organic food is steadily increasing. From standalone brands to quick commerce apps offering organic options, companies are trying to capitalize on the booming sector.
Union Budget 2024, Live Updates: Govt's Focus On Job Creations To Boost Affordable Housing
Good returns | Shravani Shinha | July 22, 2024
Finance Minister Nirmala Sitharaman is presenting her seventh Union Budget for |
FY25. In her speech on July 23, she said, the people of India have reposed their |
faith in the govt led by PM Modi and re-elected it for the historic third term. |
Budget 2024, Economic Survey Highlights: Finance Minister Nirmala Sitharaman to present her 7th straight Budget tomorrow; Key numbers to be watched
Economic times India Times | Economic times | July 22, 2024
Union Budget 2024 Highlights: Finance Minister Nirmala Sitharaman will on Tuesday present her 7th straight Budget that would lay a roadmap for Viksit Bharat (developed India) by 2047, while giving a glimpse of 10 years' performance.
State Govts, MSMEs Must Collaborate For Sustained Growth: Experts On Economic Survey
business world | Abhishek Sharma | July 22, 2024
State governments across the nation and micro, small and medium enterprises (MSMEs) must work together for sustained growth, said MSME stakeholders after the central government tabled the much-awaited economic survey in Parliament on 22 July 2024.
The sector which contributes 45 per cent to manufacturing, 30 per cent to gross domestic product (GDP) and provides 11 crore jobs, faces extensive regulation and compliance requirements. The survey calls for simplification of licensing, inspection and compliance for the industry at the state level to help the sector grow and create more jobs.
Who should file ITR-1 Sahaj? Steps to file tax return online
Financial Express | Mithilesh Jha | July 21, 2024
Taxpayers are required to file income tax returns (ITRs) to meet their financial responsibility and legal obligation both. There are various tax return forms, ITR-1 to ITR-7, need to be filed by taxpayers based on their source of income, amount of income and the category of taxpayer like individuals, Hindu Undivided Family (HUF) and company. In this article, we will discuss ITR 1 and steps to file this form.
Budget 2024 Expectations Live: What do the middle class and corporates expect? We take a look
Livemint | Livemint, Anubhav Mukherjee, Jocelyn Fernandes | July 21, 2024
Budget 2024 Expectations Live: With the new government's full Union Budget 2024 set to be announced on July 23, expectation are soaring. The focus remains on potential tax reforms that could impact individuals and businesses. Key anticipated changes include an increase in the basic exemption limit. There is also speculation about raising the standard deduction limit. We take a look at what India's middle class and corporate class expect from Finance Minister Nirmala Sitharaman.
Budget 2024: Will FM Nirmala Sitharaman fulfill your income tax wishes?
MSN | India Today Business Desk | July 20, 2024
Experts predict that the Union Budget 2024 will emphasise capital expenditure, especially on infrastructure, to drive GDP growth.
Despite positive expectations for the budget, significant tax relief for the middle class may not materialise.
ITR filing: Will July 31 deadline get an extension as taxpayers face glitches?
India today | Koustav Das | July 20, 2024
The Institute of Chartered Accountants of India (ICAI) recently urged the Income Tax Department to extend the deadline due to technical issues on the e-filing portal.
Many taxpayers have also taken to social media to express their frustrations with the system's performance.
Budget 2024 Highlights: Digital learning and improved infrastructure for Tier-2,3 cities
India today | India Today Business Desk | July 20, 2024
Finance Minister Nirmala Sitharaman is set to present the full budget for the current financial year on July 23. Expectations are running high as experts predict that Budget 2024 will aim to strike a balance by offering benefits to salaried employees, farmers, women, and the youth. The primary focus is likely to be on job creation and enhancing the rural economy. Additionally, significant announcements regarding infrastructure development, crucial for economic growth, are anticipated
Budget 2024: Will FM Nirmala Sitharaman fulfill your income tax wishes?
India today | India Today Business Desk | July 20, 2024
Budget 2024 expectations: With various sectors anticipating significant announcements, salaried taxpayers are particularly hopeful for major income tax relief, including changes in the new income tax regime and standard deductions.
TeamLease subsidiary develops SAAS platform for compliance of laws by food, agri firms
Daily Hunt | The Hindu Businessline | July 19, 2024
TeamLease RegTech, a subsidiary of TeamLease services, has developed a software as a service (SAAS) platform which helps food and agriculture firms to take care of compliance of various laws of the land.
For example, a food company has to comply with Food Safety and Standards Authority of India (FSSAI) laws. It has tons of other compliance from a group perspective either industry or labour specific. It must also comply with environmental, health and safety laws besides commercial legislation.
ITR filing: Will July 31 deadline get an extension as taxpayers face glitches?
MSN | India Today Business Desk | July 19, 2024
As the July 31 deadline for filing income tax returns (ITR) for the assessment year 2024-25 approaches, taxpayers and tax professionals are calling for an extension.
The Institute of Chartered Accountants of India (ICAI) recently urged the Income Tax Department to extend the deadline due to technical issues on the e-filing portal.
Budget 2024 Expectations Live Updates: Nirmala Sitharaman may bring key tax changes on July 23
hindusthan times | hindusthan times | July 18, 2024
Budget 2024 Expectations Live Updates: Finance Minister Nirmala Sitharaman will present the Union Budget on July 23 which is expected to be full of major announcements for various sectors. Salaried taxpayers are anticipating some much-needed tax relief especially those earning less than ₹10 lakh per year, as per experts.
Budget 2024 Highlights: Will FM Sitharaman Increase Healthcare Spend?
News18 | Aparna Deb | July 18, 2024
Union Budget 2024 Expectations Highlights: Finance Minister Nirmala Sitharaman is all set to table the Union Budget in just a week. Industry stakeholders are awaiting the presentation of the Budget with hopes of policy continuity, better allocations, and reforms. India is also hoping for tax relief measures from the Union Budget and is urging the government to raise the exemption limit from Rs 3 lakh to Rs 5 lakh.
Income Tax return filing: Is dividend from shares or mutual fund taxed?
business standard | Ayush Mishra | July 17, 2024
As the last date to file Income Tax returns nears, the topic of taxes on dividends received from investments in company shares or mutual funds could be confusing. A common question is whether a recipient has to pay taxes on dividends received from a listed company.
Union Budget 2024: Middle class might not get expected tax relief
MSN | Sonu Vivek | July 17, 2024
The government led by Prime Minister Narendra Modi is expected to tilt towards populism given the weaker mandate and the huge dividend of Rs 2.1 trillion for FY24 given by the Reserve Bank of India (RBI).
As the government prepares to present the budget for the financial year 2024-25 on July 23, the middle class may not see the anticipated tax relief measures.
ITR Due Date Extension AY 2024-25: Will income tax return filing deadline be extended beyond July 31?
Financial Express | Mithilesh jha | July 17, 2024
ITR Due Date Extension AY 2024-25: With ITR filing deadline approaching fast, taxpayers have started urging the government to extend the tax filing due date as they are facing technical glitches on the e-filing portal.
Budget 2024 Expectations Highlights: Tax relief, GST exemptions and sizeable cut in personal income tax top the Budget wishlist? All eyes on Finance Minister Nirmala Sitharaman
Financial Express | FE Business | July 17, 2024
Budget 2024 Expectations: Pre-budget expectations are pouring in from various sectors, outlining their demands for this highly anticipated Budget, which President Murmu has described as "historic." For live coverage and updates on all Budget-related news, follow Financial Express Online.
Explained | RBI's New Fraud Risk Management Norms: Key Changes That Borrowers Need to Know
News18 | Mohammed Haris | July 17, 2024
The Reserve Bank of India (RBI) has revised its master directions on fraud risk management following Supreme Court recommendations. The apex court asked banks to hear a borrower before an account is classified as fraud.
RBI mandates lenders to listen to loan defaulters before declaring accounts as fraud; here's what experts said
MSN | Business Today Desk | July 17, 2024
The Reserve Bank of India has recently said that lenders should give defaulting borrowers enough time to respond before they are classified as "fraud accounts". The necessary action has been taken to ensure adherence to the principles of natural justice, a fundamental aspect of which is affording both parties involved in a dispute the opportunity to be heard. This decision was made in response to the ruling by the Supreme Court on March 27, 2023, which mandates that borrowers are entitled to a fair hearing before their accounts can be labeled as fraudulent.
RBI mandates lenders to listen to loan defaulters before declaring accounts as fraud; here's what experts said
business today | Business Today Desk | July 17, 2024
The Reserve Bank of India has recently said that lenders should give defaulting borrowers enough time to respond before they are classified as "fraud accounts". The necessary action has been taken to ensure adherence to the principles of natural justice, a fundamental aspect of which is affording both parties involved in a dispute the opportunity to be heard. This decision was made in response to the ruling by the Supreme Court on March 27, 2023, which mandates that borrowers are entitled to a fair hearing before their accounts can be labeled as fraudulent.
Role of Self-Regulatory Organisations in India’s Fintech and Digital Lending Sectors: Rishi Agrawal, Teamlease Regtech
tech achieve media | Supriya Rai | July 17, 2024
The Association of Mutual Funds in India (AMFI), in collaboration with the Securities and Exchange Board of India (SEBI), has significantly enhanced mutual fund penetration. Similarly, the Reserve Bank of India (RBI) is establishing Self-Regulatory Organisations (SROs) for fintech and digital lending to promote industry maturity. These SROs will work with the RBI on policy reform, enforcement, compliance, and disciplinary actions, ensuring that fintech companies adhere to regulations and best practices. Rishi Agrawal, CEO and Cofounder of Teamlease Regtech, sheds more light on how SROs can contribute to making the fintech and digital lending sectors, stable, secure and innovative.
Budget 2024 Expectations Highlights: Startups eye angel tax relief and health tech boost in Budget
Economic times India Times | Economic times | July 17, 2024
Union Budget 2024 Highlights: Indian startups are eagerly anticipating this year's Union Budget. Startups are particularly hopeful for the elimination of angel taxes, while those in the health tech sector are looking forward to increased funding. Startups play a vital role in driving economic growth by creating new jobs, generating innovative ideas, and developing new products and services.
TeamLease subsidiary develops SAAS platform for compliance of laws by food, agri firms
business line | SUBRAMANI RA MANCOMBU | July 17, 2024
TeamLease RegTech, a subsidiary of TeamLease services, has developed a software as a service (SAAS) platform which helps food and agriculture firms to take care of compliance of various laws of the land.
Union Budget 2024: Middle class might not get expected tax relief
India today | sonu vivek | July 16, 2024
The government led by Prime Minister Narendra Modi is expected to tilt towards populism given the weaker mandate and the huge dividend of Rs 2.1 trillion for FY24 given by the Reserve Bank of India (RBI).
As the government prepares to present the budget for the financial year 2024-25 on July 23, the middle class may not see the anticipated tax relief measures.
Budget 2024 Expectations: Will Nirmala Sitharaman provide income tax relief
hindusthan times | hindusthan times | July 16, 2024
Budget 2024 Expectations Live Updates: Finance minister Nirmala Sitharaman is set to present the first full Union Budget of the Narendra Modi 3.0 government on July 23. The Budget may provide relief on the income tax front and experts believe that the Modi government is expected to continue its focus on capital expenditure through infrastructure development to drive GDP growth.
Budget 2024 Expectations Highlights: Low interest rates and liquidity support on MSMEs' wish list for Sitharaman
Economic times India Times | Economic times | July 15, 2024
Union Budget 2024 Highlights Updates: As Finance Minister Nirmala Sitharaman prepares for the upcoming Union Budget, the micro, small, and medium enterprises (MSMEs) are hopeful that the government will prioritise and promote their sector.
The Finance Minister will present the Union Budget for 2024-25 on July 23, in her third straight term this year.
Govt May Boost Employment In Labour-intensive MSMEs In Budget: Sandeep Agrawal, TeamLease RegTech
https://businessworld.in/article/govt-may-boost-employment-in-labour-intensive-msmes-in-budget-sandeep-agrawal-teamlease-regtech-525945 | Business World | July 15, 2024
With an 8.2 per cent gross domestic product (GDP) growth during the financial year (FY) 2023-24, India maintained its position as one of the fastest-growing major economies in the world. Notably, Indian micro, small and medium enterprises (MSMEs) and startup sectors have further boosted this growth.
Concurrently, India has over 70 million MSMEs, creates over 111 million jobs and contributes nearly 30 per cent to the nation’s gross domestic product (GDP) and the 40 million MSMEs registered through the Udyam certification have reported nearly 190 million jobs, an increase from 90 million in 2022.
Budget 2024 Highlights: What can salaried taxpayers expect from upcoming Union Budget?
Financial Express | FE Business | July 14, 2024
In just 10 days, the Union government will present the Budget 2023-24 in the Parliament. BJP leader Nirmala Sitharaman, who holds the finance portfolio, will present the Lok Sabha on July 23. She had held extensive consultations with various stakeholders and industry experts ahead of the upcoming Budget. Prime Minister Narendra Modi on Thursday also held a high-level meeting with economists on Thursday to gather suggestions. The Budget for 2024-25 marks a pivotal economic document for the Modi 3.0 government, set to outline a roadmap towards India’s development as a developed nation by 2047. Meanwhile, the Opposition is all set to hold the government accountable over several issues in the nation. The Congress had posed several questions to the finance minister and asked her to address them during the Budget Session.
Budget 2024 Expectation Highlights: What to expect from Budget deliberations
Economic times India Times | Economic times | July 14, 2024
Union Budget 2024 Highlights: India's upcoming budget under NDA 3.0 sets the stage for economic priorities. Emphasizing infrastructure growth and job creation, the government plans to boost manufacturing through public-private partnerships. Clean energy incentives and potential GST reforms are anticipated, aiming to align with global sustainability goals.
Jail term for delay in giving out ID cards: How compliance overkill mars chemical industry
Economic times India Times | ET Prime | July 5, 2024
t is time to do away with the complex and wide-ranging regulatory provisions in the chemical industry if the promising segment, which has a considerable number of MSME players, is to achieve its potential.
Budget 2024: Will the indexation benefit on debt mutual fund be back?
Economic times India Times | Neelanjit Das | July 4, 2024
Sandeep Agrawal, director and co-founder, Teamlease Regtech opines that as the returns on debt mutual funds are almost similar to fixed deposits, an individual will always prefer FDs over debt mutual funds as FDs are considered safer and more liquid.
Technology has the answers to compliance conundrums faced by MSMEs
Passionate in Marketing | Passionate in Marketing | July 3, 2024
MSMEs are called the engine of economic growth, and rightly so. The 63+ million MSMEs employ nearly 113 million people, pushing the Indian economy towards the $10 trillion GDP goal. As the world celebrates MSME Day, we must affirm their immense potential and recognise the unique challenges faced by these enterprises. Contrary to large corporations, these entrepreneurs are often the sole drivers of their business growth and manage operations, technology, and compliance single-handedly. These businesses need streamlined compliance processes to ensure their entrepreneurs can spend more time on business activities without being bogged down by compliance functions.
Most NRIs Looking To File ITR by July 31: What Are The Challenges They Face?
Business outlookindia | Anuradha Mishra | July 3, 2024
As the ITR filing deadline for the financial year 2023-24 approaches (July 31), the Non-Resident Indians (NRIs) across the globe are showing a strong commitment to tax compliance. Over 73 per cent of NRIs are proactively looking to file ITR by July wherein 19 per cent have already filed and 8 per cent are not intending to file, according to recent data by SBNRI, an NRI-focused fintech platform.
walking a tightrope
Outlook Business | Devanshu Singla | July 1, 2024
Sandeep Agarwal, co-founder of Teamlease Regtech, a compliance management software company. says the pace of developments
in the securities market makes it difficult to isolate fraudulent practices and mitigate the damage quickly
Streamlining MSME Compliance with Technology
SME Street | SMEStreet Edit Desk | June 28, 2024
MSMEs are called the engine of economic growth, and rightly so. The 63+ million MSMEs employ nearly 113 million people, pushing the Indian economy towards the $10 trillion GDP goal. As the world celebrates MSME Day, we must affirm their immense potential and recognise the unique challenges faced by these enterprises. Contrary to large corporations, these entrepreneurs are often the sole drivers of their business growth and manage operations, technology, and compliance single-handedly. These businesses need streamlined compliance processes to ensure their entrepreneurs can spend more time on business activities without being bogged down by compliance functions.
Bad laws are bad for business: They must be reformed, not ignored
livemint | Ankur Kothari & Yuvraj Khetan | June 28, 2024
How many hours do you end up spending on regulatory matters” we
asked Agarwalji, a garment exporter. “Around 15-20%" he said, “approvals
and inspections, labour audit, water, building certificate, new site
formalities and so on. Every day, | spend a couple of hours going through
some of these." Since this involved government officials, he couldn't
delegate it; officers would insist that the owner be their single point of
contact. This is not an exception, but a sad reality facing many
manufacturers, specially MSMEs.
Laws that are bad for business must be reformed, not ignored
Press Reader | Mint kolkata | June 28, 2024
How many hours do you end up |
spending on regulatory matters?”
we asked Agarwalji, a garment |
exporter. “Around 15-20%,” he |
said, “approvals and inspections, |
labour audit, water, building certi- |
ficate, new site formalities and so |
on. Every day, I spend a couple of |
hours going through some of |
these.” Since this involved govern-
ment officials, he couldn’t delegate |
it; officers would insist that the |
'Don't Cripple Our Partners': MSMEs Call For Revisions As DCB Threatens Key Alliances
Business World | Abhishek sharma | June 27, 2024
While evaluating the potential ramifications of the draft Digital Competition Bill (DCB), industry experts at a recent event delved into the complex dynamics between small and large enterprises in the digital age, underscoring their crucial role in fostering mutual growth and innovation.
Emphasising how the rapid evolution of technology and digital platforms has significantly transformed the business landscape, experts at the Digital India Foundation’s event agreed that small enterprises collaborating with large established players create a more integrated and dynamic market ecosystem.
MSME Day 2024: Participation of women in MSMEs increases but challenges remain
economictimes | Ashish Pandey | June 27, 2024
India’s estimated 64 million MSMEs employ nearly 23% of India’s workforce. The 40 million or so MSMEs registered with the MSME Ministry through the Udyam certification have reported nearly 190 million jobs – doubling from 90 million as of the end of 2022.
Read more at:
https://economictimes.indiatimes.com/small-biz/sme-sector/msme-day-2024-participation-of-women-in-msmes-increases-but-challenges-remain/articleshow/111304307.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Banks and NBFCs must implement unified compliance monitoring dashboard by June 30
CNBC TV18 | Anshul | June 25, 2024
As the deadline set by the Reserve Bank of India (RBI) approaches, regulated entities (REs) such as banks and NBFCs must comply with the directive to implement a unified compliance monitoring dashboard by June 30, 2024.
Digital Competition Bill: Redefining MSME and Digital Platform Dynamics
Tech Achieve media | Supriya Rai | June 25, 2024
The Digital Competition Bill (DCB) is set to have a signifiant impact on the relationship between MSMEs and large digital platforms. By targeting the anti-competitive practices of Systemically Significant Digital Enterprises (SSDEs), the DCB aims to dismantle barriers that have historically favored large platforms, allowing them to control market dynamics through exclusive tie-ups and preferential treatment
Fintech to switch on reset button as self-regulatory mechanism comes in
Beam start | Beamstart | June 17, 2024
A fortnight after the Reserve Bank of India (RBI) made public its ‘Framework for self-regulatory organisation(s) for fintechs (SRO-FTs)’, the first signs of change in the way the sector looks at itself are upon us.
The Fintech Association for Consumer Empowerment (FACE) – an SRO-FT aspirant – “is considering its mandate to expand its membership to fintech beyond the credit ecosystem… so that fintechs, regardless of their business and scale, will have parity to contribute to the industry’s objectives and receive distinct value for their unique needs,” says Sugandh Saxena, its chief executive officer (CEO). This is in keeping with
Fintech to switch on reset button as self-regulatory mechanism comes in
Business Standard | Raghu Mohan | June 17, 2024
A fortnight after the Reserve Bank of India (RBI) made public its ‘Framework for self-regulatory organisation(s) for fintechs (SRO-FTs)’, the first signs of change in the way the sector looks at itself are upon us.
The Fintech Association for Consumer Empowerment (FACE) – an SRO-FT aspirant – “is considering its mandate to expand its membership to fintech beyond the credit ecosystem… so that fintechs, regardless of their business and scale, will have parity to contribute to the industry’s objectives and receive distinct value for their unique needs,” says Sugandh Saxena, its chief executive officer (CEO). This is in keeping with
Fintech to switch on reset button as selfregulatory mechanism comes in | Personal Finance
Market Reporter | MTR | June 17, 2024
The Fintech Association for Consumer Empowerment (FACE) – an SRO-FT aspirant – “is considering its mandate to expand its membership to fintech beyond the credit ecosystem… so that fintechs, regardless of their business and scale, will have parity to contribute to the industry’s objectives and receive distinct value for their unique needs,” says Sugandh Saxena, its chief executive officer (CEO). This is in keeping with what has been spelt out in the framework: To make SRO-FT(s) truly representative and “ensure refined decision-making and prevent the organisation from being swayed by the interests of a dominant few”, or lobby groups acting as Trojans in SROs.
$220 Billion Chemical Industry Struggling with Compliance Challenges
Chemindigest | Chemical Industry Digest | June 17, 2024
India’s chemical industry, valued at $220 billion, is a significant source of employment and export revenue. However, it is currently hampered by a heavy regulatory compliance burden, particularly affecting micro, small, and medium enterprises (MSMEs).
Compliance Burden Hampers MSME Chemical Units
SME digital | SME Digital world | June 15, 2024
Rishi Agrawal, co-founder and CEO of TeamLease RegTech, noted, “Understanding the compliance needs is difficult for most MSMEs. The lack of training and skilled manpower further complicates compliance efforts.”
Frequent changes in regulatory and compliance norms exacerbate the issue. “For example, in the last week alone, there were 200 compliance changes, 700 in the past month, and approximately 1,963 in the current quarter,” Agrawal said. While large companies have in-house teams to manage these requirements, MSMEs face considerable difficulty.
Compliance Challenges Crippling India’s Chemical Industry
SME Venture | SME Desk | June 14, 2024
India’s $220 billion chemical industry is struggling under an immense compliance burden. With over 635 compliance requirements each month, growth is severely hampered, especially for MSMEs. Industry sources and analysts express concern over these challenges.
Lawyers and AI are ideal fit
Times of India | Akhil George | June 14, 2024
Gen AI tools are getting incessantly better at dealing with complex language, the kind that legal contracts are notorious for. “Managing contractual obligations demands deep expertise in legal language, understanding nuances like ₹may’ vs ₹might’ and ₹shall’ vs ₹should’. Skilled resources to manage such contracts are expensive, making contract management unaffordable for many companies,” says Rishi Agrawal, co-founder & CEO of Teamlease Regtech.
Revolutionizing the Field of Law: How AI Simplifies Contract Management
EL Blog | ROMAN REMBER | June 14, 2024
The sophistication of Gen AI addresses the intricacies of legal language, often marked by the nuances in terms like “may” vs. “might” and “shall” vs. “should”, as noted by Rishi Agrawal, CEO of Teamlease Regtech. The technology can dissect contracts, ensuring thorough drafting, reviewing, and compliance. With the correct input, Gen AI produces customized contracts from established templates and reviews to highlight significant terms and obligations.
Lawyers and AI are ideal fit
MSN | Akhil George | June 14, 2024
In the real world, Shashank notes, legal costs are high. It’s something that gets paid by the hour. So how do you do it at scale to reduce costs? How do you do it exactly the way an organisation wants it to get done, according to their rules?”
Lawyers & AI are an Ideal Fit
Times Ascent | Akhil George | June 14, 2024
In the real world, Shashank notes, legal costs are high. It’s something that gets paid by the hour. So how do you do it at scale to reduce costs? How do you do it exactly the way an organisation wants it to get done, according to their rules?
India's $220 Billion Chemical Industry Hamstrung By Compliance Burden
MENAFN | MENAFN- KNN India | June 13, 2024
India's USD 220 billion chemical industry, a major employment generator and export earner, is being severely hindered by an excessive regulatory compliance burden, particularly for micro, small and medium enterprises (MSMEs), according to industry experts.
Each unit in the sector is required to meet an estimated 635 compliance requirements per month spanning areas like factories, health, explosives, hazardous materials and food safety regulations.
Business Update
Financial express | Business Update | June 13, 2024
The stock of Nestle India rose 3% to an intraday high of Rs 2,614.45 after the company continued to pay a general licence fee, or royalty, to its parent company, Societe des Produits Nestle S.A. The current royalty rate is at 4.5% of the net sales. Shares of Nestle India have given a return of more than 3% in the last five days. The scrip has risen over 2% in the past six months. It raised investors’ wealth by 14% in the last years and 123% in the past five years. To compare, the benchmark index, Nifty 50, has risen 2% in the past five days. The index has given a return of 12% in the past six months.
Compliance burden stifles MSME chemical units
Financial express | Abhinay Kumar | June 13, 2024
Assorted regulations and the lack of any let-up in compliance burden are crippling the growth of India’s $220 billion chemical industry. Each unit in the employment-intensive sector requires to meet as many as 635 compliance requirements every month, and this is particularly stifling for the MSMEs, industry sources and analysts feel.
Compliance burden stifles MSME chemical units
MSN | Abhinay Kumar | June 13, 2024
Assorted regulations and the lack of any let-up in compliance burden are crippling the growth of India’s $220 billion chemical industry. Each unit in the employment-intensive sector requires to meet as many as 635 compliance requirements every month, and this is particularly stifling for the MSMEs, industry sources and analysts feel.
Podcast - Compliance burden stifles MSME chemical units
Indian Express | The Expresso Business Update | June 13, 2024
Moving on, Fuelled by economic diversification, rising consumer demand, and reverse migration patterns accelerated by the pandemic, the real estate markets of Tier-2 cities are witnessing remarkable growth trends, and these once overlooked urban centres are rapidly closing the gap with their Tier-1 counterparts, according to Housing.com’s ‘The Bharat in India’ report. This surge can be attributed to the burgeoning economic potential of these cities attracting a growing influx of residents. Notably, this trend has gained momentum in the wake of the pandemic and fuelled by the phenomenon of reverse migration. The economic dynamism has had a multiplier effect on the real estate market in Tier-2 cities especially in retail, warehousing and residential segments.
India's $220 Billion Chemical Industry Hamstrung by Compliance Burden
KNN India | KNN Bureau | June 13, 2024
India's USD 220 billion chemical industry, a major employment generator and export earner, is being severely hindered by an excessive regulatory compliance burden, particularly for micro, small and medium enterprises (MSMEs), according to industry experts.
Each unit in the sector is required to meet an estimated 635 compliance requirements per month spanning areas like factories, health, explosives, hazardous materials and food safety regulations.
Assorted regulations and the lack of any let-up in compliance burden are crippling the growth of India’s $220 billion chemical industry.
Indian Express | The Expresso Business Update | June 13, 2024
Each unit in the employment-intensive sector requires to meet as many as 635 compliance requirements every month, and this is particularly stifling for the MSMEs, industry sources and analysts feel. Rishi Agrawal, co-founder and CEO, TeamLease RegTech said, “Even understanding the compliance needs is difficult for most MSMEs. Lack of training and skilled manpower makes it more challenging for the units to comply.” Rishi Agrawal, co-founder and CEO, TeamLease RegTech said, “Even understanding the compliance needs is difficult for most MSMEs. Lack of training and skilled manpower makes it more challenging for the units to comply.
It is time now for ‘design in India’ products
Dq India | DQINDIA Online | June 12, 2024
The first 100 days undoubtedly need to focus on setting the tone for continued momentum on enabling ease of compliance. Labour reform is long overdue. It is a key hurdle in the country’s march towards Viksit Bharat. I expect the government to move aggressively with implementing labour codes. This move will reduce the duplication, overlap, and redundancy in India’s labour compliance obligations by 70% to 80%.
Modi 3.0: Startups expect policy directions, financial market stability from NDA’s 100-day agenda
livemint | Alka Jain | June 11, 2024
Startups in India are eagerly awaiting the new government's policies to address their unique requirements, such as strengthening the policy directions, better technology, research & development, and financial market stability. With targeted policies and essential resources, the government can foster an environment conducive to the growth and success of startups nationwide.
How much do Indian FinTechs spend on compliance?
ET BFSI | Anushka Sengupta | June 10, 2024
Based on data provided by Rishi Agrawal, Co-founder and CEO, |
TeamLease Regtech, small scale or new Indian fintechs on an average
spend Rs 0.9-1.17 crores per annum including people costs in legal and |
compliance while large scale fintechs spend double that amount, |
approximately Rs 2.5-3.2 crores per annum. |
Beneficial ownership norms in focus as MNCs face greater scrutiny
Business Standard | Ruchika Chitravanshi | June 4, 2024
The latest ruling by the Registrar of Companies (RoC) in the LinkedIn Technology Information case for violating significant beneficial ownership (SBO) norms has brought the amended rules into the spotlight. Experts suggest that more entities, particularly multinational companies (MNCs), are expected to face greater scrutiny.
COMPLIANCE CHALLENGES: PROBABLE SOLUTIONS FOR MSMES
Industrial product finder | Rishi Agrawal | May 27, 2024
It is reasonable to predict that the Indian economy will soon surpass Germany and Japan to become the third largest within the decade. However, GDP of the $10 trillion mark within this time frame needs reimagining the country’s manufacturing capabilities, particularly in the MSME segment. There is a broad consensus that MSMEs are an engine of economic growth. They account for approximately 30% of the GDP, 36% of the manufacturing output and over 40% of the country’s exports. There are over 63 million MSMEs in India, employing more than 190 million people. However, a staggering 98% of these are micro-businesses. A deeper dive into the data reveals that MSMEs bear a disproportionately high regulatory burden stunting their growth and forcing them to stay small and informal.
Chemical Companies Must Obtain Around 72 Licences & Approvals Under 52 Acts: Report
businessworld.in | BW Online Bureau | May 19, 2024
A single entity, chemical manufacturing enterprise with a single manufacturing unit operating in Maharashtra faces 635 unique obligations, of which 299 (47.1 per cent) are at the union level, 332 (52.3 per cent) are at the state level, and 4 (0.6 per cent) are at the municipal level, highlights a report by TeamLease Regtech, a regulatory technology company.
In a pickle: Why it’s time for Fssai to ake up and crack the whip
https://www.livemint.com | Suneera tandon | May 19, 2024
A Swiss watchdog recently reported that Nestle adds excess sugar in infant products. Spice mixes sold by MDH and Everest were red flagged by regulators abroad. The companies denied any wrongdoing but the reports do raise questions on the role Fssai, India's food regulator; plays.
Chemical manufacturers manage 1,500+ compliances for single unit
www.deccanchronicle.com | DC Correspondent | May 17, 2024
TeamLease Regtech, India’s leading Regulatory Technology (Regtech) solutions company, has released its report titled ‘Simplifying Compliance Management for the Chemical Industry.’ The report provides an overview of the complexity of compliance and the challenges entrepreneurs and employers face in the Chemical Industry. It also delves deep into the present regulatory framework and suggests actionable recommendations for enterprises and policymakers.
Why contaminated foods can easily enter your kitchen
https://economictimes.indiatimes.com/ | Ashish Pandey | May 10, 2024
India’s regulatory framework for food testing undeniably needs capacity-building to ensure compliance with domestic and international standards. There is also a need for strong punitive measures and penalties for non-compliance and to make test results public, say experts.
The need for labour reforms in India | Political Economy
https://www.moneycontrol.com/ | Shweta punj | May 6, 2024
Indian businesses continue to be mired in the bureaucracy of red tape. According to TeamLease RegTech, there are 6618 annual filings for companies and 62.233 compliances. In this episode of Political Economy, Rishi Agarwal of TeamLease RegTech shares that labour compliances make upto 40 percent of total compliances. Labour remains a politically contentious issue. Can the new government bite the bait on labour reforms that have been in a flux? Why labour reforms will be crucial to drive growth for India.
TeamLease RegTech Releases Whitepaper on India’s Labor Law Compliance Challenges and the Need for Reforms
https://cxotoday.com/ | CXOtoday News Desk | May 6, 2024
TeamLease RegTech, India’s leading Regulatory Technology (RegTech) solutions company, has released a whitepaper on the occasion of International Labour Day. The whitepaper dives into the past, present and future of labour law compliances in India. It traces the journey of the present-day regulatory framework and discusses the challenges faced by workers and employers alike.
Digital fraud-hit banks turn to startups to cope with risks
https://economictimes.indiatimes.com | Ajay Rag | May 6, 2024
Legacy financial institutions turn to startups like Data Sutram for tech support in customer verification. Data Sutram's 'DS Authenticator Trust Score' aids in assessing customer trust levels during account opening. Bureau Inc's 'Money Mule Score' enhances fraud detection.
Political funding: The way forward
https://www.financialexpress.com | Rewati Karan | May 5, 2024
Electoral bonds may have been struck down as unconstitutional by the SC, but can such funding schemes take newer forms to keep corporate donations flowing unhindered into parties’ coffers? We find out.
How Inventiva Encouraged Indian Regulators Like FSSAI To Be More Vigilant About The Practices And Policies Going On In The Indian Market?
https://www.inventiva.co.in/ | Chakraborty | May 5, 2024
Following a few nations’ decisions to restrict imports of specific Indian spice brands, the FSSAI said that it would conduct random testing of spices and culinary herbs this year, as well as four other categories of food goods. While it may sound good at first that the regulator has fastened the belts and that we will be spared of unhealthy and contaminated food, this attempt is quite in vain. This is because FSSAI had earlier made many attempts to show that they are vigilant about food products revolving in the market. However, there lies a hidden story of failure and negligence on the part of the regulator.
States need to focus on reducing compliance burden
https://www.bizzbuzz.news/ | Bizz buzz | May 4, 2024
Management company Teamlese Regtech’s white paper on compliances has demonstrated that procedural rigours continue to burden businesses. With 69,233 compliances, including 32,542 related to labor laws, it is indeed a miracle that lakhs, if not millions, of enterprises still operate in the country. The paper points out that state-level compliances to laws, 97 per cent or 31,605, make up the bulk of the total labor-related obligations. Worse, more than half of these—17,819 to be precise—can land an entrepreneur in jail for non-compliance. Unsurprisingly, the Observer Research Foundation (ORF) published a study by a self-explanatory title ‘Jailed for Doing Business: The 26,134 Imprisonment Clauses in India’s Business Laws’ in 2022. The Teamlese paper says, “The factory owners are required to obtain a factory licence and a certificate of stability under the Factories Act, 1948. Most of the requirements pertaining to certification and licencing are contained in the state and municipal laws.” The compliances stipulate that the entrepreneurs display an abstract of maternity, minimum wages, and employee compensation regulations. They also need to maintain registers and records in accordance with myriad laws.
Experts, industry insiders welcome Spices Board, FSSAI’s measures to check quality of food products
https://www.thehindu.com/news/ | BINDU SHAJAN PERAPPADAN | May 4, 2024
Members of the food industry and experts have welcomed the series of measures, introduced by the Food Safety and Standards Authority of India (FSSAI) and Spices Board of India, to maintain quality check of food products sold within the country and of those exported while stating that despite the regulatory ecosystem for food articles in India being one of the most comprehensive frameworks in the world it continues to grapple lack of ground-level implementation.
India Inc has to deal with 1,536 Acts, 69,233 | compliances: Study
https://timesofindia.indiatimes.com | Times News Network | May 2, 2024
Despite attempts to improve the ease of doing business, India Inc still has to deal with numerous laws and compliances. A research paper released by TeamLease RegTech, a regulatory compliance management firm, finds there are 1,536 Acts and rules, 69,233 compliances, and 6,618 annual filings to comply with. However, one company may not have to contend with all the compliances.
India Inc Faces 69,233 Compliances Across 1,536 Laws & Rules
https://menafn.com | KNN Bureau | May 2, 2024
The regulatory compliance management firm's study revealed the staggering number of compliances that businesses in India must adhere to, stemming from 1,536 different Acts and rules.
However, the precise number of applicable compliances varies for each company based on factors such as the nature of its business, geographical presence, and employee headcount.
India Inc Faces 69,233 Compliances Across 1,536 Laws & Rules
https://knnindia.co.in | KNN Bureau | May 2, 2024
Indian companies are grappled with an enormous compliance load of 69,233 compliances mandated across 1,536 laws and associated rules, according to a new research paper by TeamLease RegTech.
The regulatory compliance management firm's study revealed the staggering number of compliances that businesses in India must adhere to, stemming from 1,536 different Acts and rules.
However, the precise number of applicable compliances varies for each company based on factors such as the nature of its business, geographical presence, and employee headcount.
TeamLease releases comprehensive whitepaper on labour law compliances
https://www.manufacturingtodayindia.com | Staff Writer | May 2, 2024
TeamLease RegTech, India’s premier Regulatory Technology solutions company, has unveiled a whitepaper in celebration of International Labour Day. This comprehensive document delves into the historical evolution, present state, and future trajectory of labour law compliances in India. It scrutinises the contemporary regulatory landscape, shedding light on the challenges confronting both workers and employers.
India Inc has to deal with 1,536 Acts, 69,233 compliances: Study
https://www.msn.com | Times News Network | May 2, 2024
A research paper released by TeamLease RegTech, a regulatory compliance management firm, finds there are 1,536 Acts and rules, 69,233 compliances, and 6,618 annual filings to comply with. However, each company may not have to contend with all the compliances. That varies depending on the nature of business, geographical location and reach, and employee headcount.
Labour laws contribute 47% of nearly 70k compliances in the country': Teamlease white paper
https://www.moneycontrol.com/ | S.NTHYAGARAJAN | May 1, 2024
According to the paper, state-level compliances to labour laws constitute 31,605, i.e. 97 percent of the total labour-related obligations while union-level compliances constitute to about 937
TeamLease RegTech Releases Whitepaper on India’s Labor Law Compliance Challenges and the Need for Reforms
https://www.legalindia.com | Legal India Admin | May 1, 2024
Mumbai, May1, 2024: TeamLease RegTech, India’s leading Regulatory Technology (RegTech) solutions company, has released a whitepaper on the occasion of International Labour Day. The whitepaper dives into the past, present and future of labour law compliances in India. It traces the journey of the present-day regulatory framework and discusses the challenges faced by workers and employers alike.
The big aviation crisis: From flight cancellations to pilot shortage, why has India's aviation story gone sour?
https://www.businesstoday.in | Arnab Dutta | April 30, 2024
On April 1, T.V. Mohandas Pai was stuck at the Bengaluru airport. The former Infosys CFO and Chairman of Manipal Global Education and Aarin Capital Partners was scheduled to travel to Ahmedabad on a Vistara flight at 10:30 am, but the departure was pushed back to 12 pm. With no prior intimation from the airline, Pai took to social media platform X to vent his frustration: “Why did they not message the delay? Terrible service, no announcement, no clarity.” Vistara, in its reply, refuted Pai’s claims of not sending out communications, saying it had communicated the delay to the “registered contact details present on the PNR” and said that the flight “was delayed due to operational reasons”.
TeamLease RegTech, NISM & FICCI jointly organise the Compliance and Governance Symposium in Mumbai
https://mumbainewsexpress.com/ | Suman Gupta | April 26, 2024
April 25, 2024, Mumbai: TeamLease RegTech, along with the National Institute of Securities Markets (NISM) and the Federation of Indian Chambers of Commerce and Industry, organised the ‘Compliance and Governance Symposium’ at Novotel, Mumbai International Airport. The event witnessed the participation of industry stalwarts as keynote speakers on the evolving role of technology in SEBI compliance and governance processes. The panels included renowned professionals — Mr. Vinay M A, Company Secretary & Compliance Officer, Marico; Mr. Onkar, Head of Legal, Company Secretary & Compliance Officer, EPL Limited; and Mr. Rishi Agrawal, Co-founder & CEO, TeamLease Regtech — who shed light on the integral role of technological advancements in enabling ease of doing business.
TeamLease RegTech, NISM & FICCI jointly organise the Compliance and Governance Symposium in Mumbai
https://nationalheraldnews.com | Prashant Kapadia | April 25, 2024
Organised at Novotel, Mumbai International Airport, the conference witnessed the Key note by MD AND CEO of BSE & a regulator panel by SEBI and participation from various industry leaders and seasoned professionals. The panel discussions revolved around the evolving role of technology in ease of doing business and SEBI compliance and governance processes
Business Regulations: Decriminalisation, simplification, and digitisation
https://www.cppr.in | Centre for Public Policy Research | April 22, 2024
In this episode, we explore the need for decriminalisation, simplification, and digitisation in business regulations. We dissect the implications of the Jan Vishwas Act and proposed amendments and delve into the progress of decriminalisation across the nation, identifying states leading the charge in reform efforts. Join us as we unravel the complexities and envision the future of business regulations.
Electoral bond data: Will corporates disclose their donation details to their shareholders?
https://adrindia.org | Surabhi | April 19, 2024
With electoral bond data being released, will corporates disclose details of their purchases to their shareholders?
Electoral bond data: Will corporates disclose their donation details to their shareholders?
https://www.businesstoday.in | Surabhi | April 15, 2024
Six years after the electoral bonds scheme was launched as a mechanism to cleanse the system of political funding, the Supreme Court held it as unconstitutional and manifestly arbitrary, mandating the disclosure of all details of bond purchases and their redemptions by political parties. In the process, this has brought donations by corporate houses to political parties out in the open.
l EMPLOYEES PROVIDENT FUND REDUCES PAPERWORK: PF balance transfers go automatic
https://www.financialexpress.com | Saikat Neogi | April 13, 2024
WHEN a salaried employee switches jobs, her provident fund (PF) balance will now get automatically transferred to the new employer without any documentation. The account will get seamlessly transferred the moment the new employer deposits the PF contribution from the employee’s first month’s salary.
Switching jobs? Your EPF account can be automatically transferred - here’s how EPFO facility works, rules and exceptions
https://www.msn.com | Story by TOI Business Desk | April 11, 2024
Sandeep Agrawal, Director and Co-Founder of Teamlease Regtech, said that for automatic transfer claims, there's no requirement to submit Form 13. However, if the automatic transfer doesn't occur within the specified time due to issues like mismatched dates of exit, not updated exit dates by a previous employer, member details mismatch, or pending UAN Aadhaar seeding, members can opt for online Form 13 to transfer EPF and EPS accumulation from the previous employer to the present one.
Switching jobs? Your EPF account can be automatically transferred - here’s how EPFO facility works, rules and exceptions
https://timesofindia.indiatimes.com | TOI Business Desk | April 10, 2024
EPF automatic account transfer: The Employees’ Provident Fund Organisation (EPFO) offers a convenient solution for its members when changing jobs: automatic transfer of EPF accounts. Despite its usefulness, this facility remains relatively unknown.
RegTech solutions can be a game changer in fintech regulatory scrutiny
https://smefutures.com | Anushruti singh | March 22, 2024
RBI’s recent directive against Paytm has heightened the necessity for RegTech solutions among mid-sized and large corporations. SME Futures explores the role of RegTech in fintech with Sandeep Agrawal, TeamLease RegTech
ITR filing: Stock market investors can use these tricks to lower income tax outgo
https://sharepriceupdates.com | Sangeeta Ojha | March 15, 2024
ITR filing: According to experts, individuals investing in the Indian stock market can utilise several income tax planning strategies to increase their returns while staying compliant with Indian tax laws
Taxpayers facing inflated income problem on the | compliance portal with these transactions asked to wait; CBDT
https://economictimes.indiatimes.com/ | Neelanjit Das | March 15, 2024
Income tax compliance portal: The Central Board of Direct Taxes (CBDT) has said on
their website that data pertaining to certain information categories are being updated, |
hence taxpayers should wait for the updated data to be reflected on the portal. There |
have been a huge disparity between transactions reported in AIS and as per the
transaction conducted by taxpayers.
Compliance Guidelines for FinTechs
https://www.businessmanager.in | Sandeep Agrawal | March 14, 2024
In the evolving FinTech landscape, compliance is not just a requirement; it's a
strategic imperative.
The Call for RegulateKaro amid Paytm crisis in the Fintech Space has spurred a renewed focus on compliance
within the dynamic Indian FinTech ecosystem. Here's a comprehensive listicle on the compliance measures |
FinTechs should follow to thrive in this regulatory landscape.
KYC rules to change: Uniform KYC for all — opening bank account to buying insurance to investing in stocks, mutual funds
https://economictimes.indiatimes.com | Anulekha Ray | March 14, 2024
In its recent meetings, FSDC, chaired by Finance Minister Nirmala Sitharaman, proposed to bring uniform KYC to verify customers, ease inter-usability of KYC records across the financial sector, and simplify the digitalisation of the KYC process. What is uniform KYC? How will uniform KYC ease the process of onboarding? What is going to change for customers? ET Wealth Online explains.
FE MSME Leadership Conclave: Experts share blueprint for MSMEs’ growth in ‘Viksit Bharat’
https://www.financialexpress.com | Sparsh Bansal | March 10, 2024
In a span of 12 months, the registration with the Ministry of MSME has grown from 1.5 crore in March last year to 2.4 crore”, said Dr. Rajneesh, Additional Secretary & Development Commissioner, Ministry of MSME.
These income tax initiatives may empower women investors in Indian stock market
https://www.livemint.com | Sangeeta Ojha | March 8, 2024
Several tax-related initiatives can encourage women's participation in the stock market. The declining number of demat accounts among women is a concerning trend, highlighted by CA Sandeep Agrawal, Director and Co-founder at Teamlease Regtech. Meanwhile, Tax Expert Megha Jain from ClearTax proposes various tax-related initiatives to encourage women's participation in the stock market.
Women's Day Special: Investing In Stocks - A Passing Fad For Women In India; But Why?
https://www.goodreturns.in | Vipul Das | March 7, 2024
India is not alone in attracting investors disenchanted with China's markets and an economy recovering from years of pandemic-related lockdowns. Remarkably, the influx of nearly $16.5 billion in foreign investments into Indian stocks this year marks the most significant surge since at least 2008, surpassing the $8 billion and $5 billion received by South Korea and Taiwan, according to Reuters. This underscores the substantial potential that Indian stock markets currently possess.
India Inc. Needs To Digitise To Navigate Employer Compliance Challenges
https://bwpeople.businessworld.in | BW People | March 7, 2024
TeamLease Regtech has released its report titled ‘Compliance 3.0 - Beyond Accidental Compliance.’ India Inc. is expected to be on an unprecedented growth trajectory, and this report highlights the structural and procedural challenges around compliance faced by employers. It delves into the existing challenges in the present regulatory framework and provides insights into the reasons behind accidental non-compliance among employers. It further highlights the changing demands of shareholders, board of directors, regulators, and employees around compliance.
India Inc. needs to go digital to counter the regulatory cholesterol in the employer compliance framework: Reports Teamlease RegTech
https://www.financialexpress.com | Financial express education | March 6, 2024
TeamLease Regtech, has released its report titled ‘Compliance 3.0 – Beyond Accidental Compliance.’ India Inc. is expected to be on an unprecedented growth trajectory and this report highlights the structural and procedural challenges around compliance faced by employers.
Teamlease RegTech advises India to go digital for streamlined employer compliance
https://timestech.in | Kajal mehra | March 6, 2024
TeamLease Regtech, India’s leading Regulatory Technology (Regtech) solutions company, has released its report titled ‘Compliance 3.0 – Beyond Accidental Compliance.’ India Inc. is expected to be on an unprecedented growth trajectory, and this report highlights the structural and procedural challenges around compliance faced by employers. It delves into the existing challenges in the present regulatory framework and provides insights into the reasons behind accidental non-compliance among employers. It further highlights the changing demands of shareholders, board of directors, regulators, and employees around compliance.
India Inc needs to go digital to counter the regulatory hurdles in employer compliance framework: TeamLease RegTech report
https://www.zeebiz.com | Deepjoy Das | March 6, 2024
The report stated that in FY23, 4,880 regulatory updates were sent out by different national and state governments, regulators, and ministries. Because of this, compliance teams and officers of a particular business need to know about any new information that might affect their company's compliance duties.
Byju's, Paytm Bank Crises: Startups, Companies Need To Step Up Compliance, Say Experts
https://www.news18.com | Mohammad Haris | March 3, 2024
Paytm Payments Bank has recently been slapped a penalty of Rs 5.49 crore by the Financial Intelligence Unit-India for violations of its “obligations under the PMLA” rules, while edtech major Byju’s was late in reporting its earnings for recent few years to regulators. While the two companies are currently undergoing a tough period, experts say startups and companies need to step up their compliance to avoid such a situation.
Byju's, Paytm Bank Crises: Startups, Companies Need To Step Up Compliance, Say Experts
https://www.news18.com | Mohammad Haris | March 3, 2024
While Paytm Payments Bank and edtech major Byju's are currently undergoing a tough period, experts say startups and companies need to step up their compliance to avoid such a situation
Sebi wants heat shield for mutual fund investors
https://economictimes.indiatimes.com | Prashant Mahesh & Nishanth Vasudevan; | Feb. 29, 2024
The regulator has, in a communication sent to Association of Mutual Funds in India (AMFI) on Tuesday evening, asked fund houses to list the steps they are taking to protect investors in such schemes in next 21 days, said two people in the know.
Navigating the Compliance Landscape: Essential Guidelines for FinTechs Attributed to Sandeep Agrawal, Director and co-founder Teamlease Regtech
https://newspatrolling.com | Sandeep Agrawal | Feb. 28, 2024
The Call for RegulateKaro amid Paytm crisis in the Fintech Space has spurred a renewed focus on compliance within the dynamic Indian FinTech ecosystem. Here’s a comprehensive listicle on the compliance measures FinTechs should follow to thrive in this regulatory landscape.
Fintech firms focus on compliance, simplification of KYC, lending norms
https://www.newindianexpress.com | Uma Kannan | Feb. 28, 2024
Over 40 fintech companies including Razorpay and PhonePe in a meeting with finance minister Nirmala Sitharaman on Monday initiated various discussions including simplification and digitisation of KYC and lending norms reform, among others.
Fintech firms focus on compliance, simplification of KYC, lending norms
https://www.newindianexpress.com | Uma Kannan | Feb. 28, 2024
BENGALURU: Over 40 fintech companies including Razorpay and PhonePe in a meeting with finance minister Nirmala Sitharaman on Monday initiated various discussions including simplification and digitisation of KYC and lending norms reform, among others.
Navigating the compliance landscape: Essential guidelines for FinTechs
https://www.expresscomputer.in | Sandeep Agrawal | Feb. 28, 2024
The Call for RegulateKaro amid the Paytm crisis in the Fintech Space has spurred a renewed focus on compliance within the dynamic Indian FinTech ecosystem. Here’s a comprehensive listicle on the compliance measures FinTechs should follow to thrive in this regulatory landscape.
Navigating the Compliance Landscape: Essential Guidelines for FinTechs
https://www.apnnews.com/ | Sandeep Agrawal | Feb. 28, 2024
The Call for RegulateKaro amid Paytm crisis in the Fintech Space has spurred a renewed focus on compliance within the dynamic Indian FinTech ecosystem. Here’s a comprehensive listicle on the compliance measures FinTechs should follow to thrive in this regulatory landscape.
Unveiling the Future: Exploring Surge in Bank Spending on RegTech in 2024
https://timestech.in | Kajal Mehra | Feb. 26, 2024
Digital Public Infrastructure (DPI) has already improved the accessibility of financial services using digital technologies. The JAM (Jan Dhan, Aadhaar, Mobile) trinity has allowed millions of underbanked and unbanked people to join the mainstream economy and access banking and credit services. The identity, payments, and data layer allow REs to provide customers with easy and quick access to their services. This has resulted in the boom of the FinTech industry and, consequently, lending and credit services.
RBI’s warning to fintechs: How do international compliance standards impact fintechs in India? Know about GDPR or AML directives
https://www.financialexpress.com/ | Tanya Krishna | Feb. 19, 2024
The BFSI sector has grown by leaps and bounds, transitioning India from a primarily cash-driven economy to one that is now highly digitised. Fintech, today, has entered the mainstream, focusing on increasing profitability and curtailing risk. The fintech ecosystem has witnessed tremendous technological advancements and is projected to grow sixfold from $245 billion to $1.5 trillion by 2030. The Asia-Pacific region is expected to outpace the US and climb up the ranks to become the world’s leading fintech market by 2030.
How can fintechs shield themselves from fake accounts on their platforms? Rishi Agrawal, CEO and co-founder of TeamLease RegTech explains
https://www.thehindubusinessline.com | LOKESHWARRI SKNABODITA GANGULY | Feb. 19, 2024
The discussion between Rishi Agrawal, CEO and co-founder of TeamLease RegTech, and businessline’s Lokeshwarri SK, sheds light on the sequence of events leading to the RBI’s decision to halt deposit-taking and certain operations of Paytm Payments Bank.
RBI’s warning to fintech: Know more on top compliance measures, regulatory frameworks for industry players
https://www.financialexpress.com | Tanya Krishna | Feb. 16, 2024
In an exclusive conversation with Financial Express Online, Rishi Agrawal, CEO and Co-Founder, Teamlease RegTech, talked about various compliance measures and regulatory frameworks that companies need to follow in order to stay on top of their compliance obligations.
Air India Fined and Pilot Suspended: A Call for Aviation Compliance Reform
https://bnnbreaking.com | Mahnoor Jehangir | Feb. 15, 2024
February 15, 2024: In a recent incident that sent shockwaves through the aviation industry, Directorate General of Civil Aviation (DGCA) imposed a penalty of Rs30 lakh on Air India and suspended the license of the pilot in command of a flight where a passenger allegedly urinated on a female co-passenger. This event has served as a stark reminder for aviation companies to reassess and strengthen their compliance frameworks.
Air India Fined and Pilot Suspended: A Call for Aviation Compliance Reform
https://bnnbreaking.com | Mahnoor Jehangir | Feb. 15, 2024
The Air India incident highlights the need for improved aviation compliance. Companies must understand regulatory obligations, monitor protocols, and foster a culture of shared responsibility to ensure passenger safety.
The call for 'RegulateKaro' amid Paytm crisis in the fintech space
https://economictimes.indiatimes.com | Sandeep Agrawal | Feb. 7, 2024
The Indian FinTech ecosystem, the third largest in the world, is expected to reach a market size of US$ 150 billion by 2025. Digital lending has become a US$ 270 billion market in 2022. However, recent years have seen an increase in financial fraud and irregularities, leading to a lack of trust in the sector. The RBI has implemented regulations and guidelines to address these concerns, including registration requirements for FinTech companies and enhanced data privacy measures.
Budget 2024: Focus on MSMEs to compete globally
https://www.newindianexpress.com | New Indian express | Feb. 2, 2024
the FM presented the policy outlook currently in the works for the development of MSMEs by means of technology, research & development, and financial assistance. "The vision of allowing MSMEs to compete globally is a commendable one. Over the past decade, we have significantly gained in the ease of doing business with indirect tax reforms as well as the introduction of technology to facilitate the delivery of services.
Budget 2024: Post Budget Reactions from Tech Experts
https://www.thehansindia.com | Hans India | Feb. 1, 2024
Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 in Parliament. Notably, this interim budget precedes a comprehensive budget set to be revealed after the conclusion of general elections by the new government. The Finance Minister unveiled a series of noteworthy technological reforms, delivering the budget in a paperless format using a digital tablet in a red 'bahi khata' adorned with the national emblem. Despite heightened expectations from industry experts regarding artificial intelligence (AI) announcements, none materialized. Explore the views of tech experts from top technology companies.
Interim Budget 2024: Nurturing Tech Prowess - A Billion Dreams Take Flight
https://www.businessworld.in | Ojasvi Nath | Feb. 1, 2024
From fortifying defense capabilities through deep-tech advancements to fostering a thriving ecosystem for technology startups, the budget sets the stage for a paradigm shift in India's technological trajectory
Interim Budget enthuses startups with extension of tax expiry exemption by a year
https://www.thehindu.com | Mini tejaswi | Feb. 1, 2024
Certain tax benefits to startups and investments made by sovereign wealth or pension funds as also tax exemption on certain income of some International Financial Services Centre (IFSC) units are expiring on March 31, 2024
Budget 2024-25: How Industry Reacts
https://www.businessworld.in | BW Online Bureau | Feb. 1, 2024
The government's revenue has exceeded expectations. Indirect tax reform clearly is paying off. It has helped widen the tax net and bring significant efficiencies in the economy. The budget has done well to focus on energy security, mass transportation and rural housing. It was heartening to hear the frequent use of words such as technology and innovation. Digital Public Infrastructure (DPI) has been a game changer in adding wings to India's dreams. It was good to hear the finance minister talk about DPI as a new factor of production instrumental in formalising the economy. From an ease of doing business perspective, the industry expected some fund allocation on leveraging DPI to enable cashless, presence-less and paper-less compliance. The country needs to double down in building and implementing more use cases with DPI. There was also an expectation of greater focus on policy reform towards a more rationalised, digitised and decriminalised employer compliance in the post pandemic new world order. It will enable India to become Viksit by 2047.
Budget 2024: Industry Experts Push for ITR Portal Enhancements including Notice Intimation in Budget Talks Read More: https://www.taxscan.in/budget-2024-industry-experts-push-for-itr-portal-enhancements-including-notice-intimation-in-budget-talks/368804/
https://www.taxscan.in | Navasree A.M | Jan. 27, 2024
Although when compared to the old ITR portal, the new ITR portal is refreshing and useful to interact, but it can be further improved. It is my view that the tax portal should be made more user-friendly. Currently, taxpayers face challenges in locating relevant communications and notices on the portal.,” says Sandeep Agrawal, Director and Co-founder Teamlease Regtech said to Economic Times.
Budget 2024: ITR portal should be made more user-friendly including tax notice intimation; voices industry experts
https://economictimes.indiatimes.com | Neelanjit Das | Jan. 25, 2024
Budget 2024: Experts opine that the income tax return (ITR) portal be made more user-friendly and a system be in place to check all the notices given by the income tax department to the taxpayer in one place. Experts also suggested to the government that the notice document should be attached with the email intimation itself.
Navigating the evolving landscape: Key dimensions of cloud compliance and regulations in 2024
https://www.expresscomputer.in | Sandeep Agrawal | Jan. 24, 2024
The rapid adoption of cloud computing and cloud infrastructure has opened up a host of new opportunities and advantages for businesses. However, it has also reinforced the need for robust cybersecurity measures to combat the escalating threats of data breaches and cybercrimes. Today, data is the new oil, and the significance of protecting sensitive information cannot be understated. Armed with increasingly sophisticated techniques, threat actors are actively targeting the vast data pools stored in the cloud.
Finance Ministry's aggressive crackdown on crypto - a necessity, not threat: RegTech Expert
https://bfsi.economictimes.indiatimes.com | Sheersh Kapoor | Jan. 19, 2024
The recent regulatory requirements are not threats but
necessities to create a safe, secure, transparent and
accountable regulatory environment, with the ultimate
goal of protecting the interests of the consumer.
The aim is to ensure that crypto cannot be used for
illicit activities such as money laundering and terror
financing, said the expert.
UPI Transactions Cross 100-Bn Mark in 2023; a 60% Growth From 2022
https://www.entrepreneur.com | S Shanthi | Jan. 3, 2024
Transactions through the unified payments interface (UPI) platform crossed the 100 billion-mark in 2023 to around 118 billion transactions through the year, according to the data shared by the National Payments Corporation of India (NPCI).
RBI scrutinises NBFCs and fintech amid compliance failure revelations; here's what it means
https://www.businesstoday.in/ | Anand Adhikari | Jan. 1, 2024
The regulator has found that several financial entities—banks, NBFCs, and fintech players—violated a number of compliance standards or regulations. The seemingly endless list includes breaches relating to know your customer (KYC) norms, money laundering, reporting frauds, digital lending guidelines, connected lending norms, data security, and privacy regulations, among others.
Back Back Year-ender 2023: How technology drove regulatory compliance this year. Check experts' outlook for 2024
https://www.livemint.com | Saurav Mukherjee | Dec. 26, 2023
With RBI putting extra caution and went on penalizing the firms for deficiencies in regulatory compliance, money lenders started evaluating where they were going wrong and how they could improve it. Check the experts' outlook for 2024.
RBI is treading a careful path as it looks to pre-empt misadventures
https://www.businesstoday.in | Anand Adhikari | Dec. 20, 2023
With the RBI calling for comprehensive regulations to govern connected-party lending, it wants to pre-empt any misadventure in the financial sector
RBI is treading a careful path as it looks to pre-empt misadventures
https://www.businesstoday.in | Anand Adhikari | Dec. 20, 2023
With the RBI calling for comprehensive regulations to govern connected-party lending, it wants to pre-empt any misadventure in the financial sector
Pouring success a year end spotlight on licensing trends reshaping the alcohol beverage industry in 2023
https://hospitality.economictimes.indiatimes.com | Sandeep Agrawal | Dec. 19, 2023
The Government shall consider designing a National Alcohol Control Policy in consultation with the states and industry stakeholders which can provide an overall framework to states for policy making.
Top 5 Sustainable Players Poised for Success in 2023: A Year-End Roundup
https://mediaexpress24.com | Rabindra | Dec. 18, 2023
As we bid farewell to 2023, the winds of change in the business landscape are undeniably green. A growing awareness of environmental responsibility and sustainable practices has led to the emergence of companies that not only prioritize profitability but also commit to making a positive impact on the planet. In this year-end roundup, we shine a spotlight on the top five sustainable players that have stood out in 2023. From reshaping financial services to redefining smart mobility, these companies are setting new standards for success by combining innovation with a steadfast commitment to sustainability.
Top 5 Sustainable Players Poised for Success in 2023: A Year-End Roundup
https://cxotoday.com | CXOtoday News Desk | Dec. 18, 2023
As we bid farewell to 2023, the winds of change in the business landscape are undeniably green. A growing awareness of environmental responsibility and sustainable practices has led to the emergence of companies that not only prioritize profitability but also commit to making a positive impact on the planet. In this year-end roundup, we shine a spotlight on the top five sustainable players that have stood out in 2023. From reshaping financial services to redefining smart mobility, these companies are setting new standards for success by combining innovation with a steadfast commitment to sustainability.
Top 5 Sustainable Players Poised for Success in 2023: A Year-End Roundup
https://voice15.com | Voice Team | Dec. 18, 2023
As we bid farewell to 2023, the winds of change in the business landscape are undeniably green. A growing awareness of environmental responsibility and sustainable practices has led to the emergence of companies that not only prioritize profitability but also commit to making a positive impact on the planet.
Retail Compliance Unwrapped: A Year-End Review of Trends Shaping 2023
https://retail.economictimes.indiatimes.com | Sandeep Agrawal | Dec. 18, 2023
The retail industry in India has transformed and witnessed significant growth in the last 10 Years. The sector contributes substantially to the economy, exceeding 10% of the Gross Domestic Product (GDP) at $1.3 trillion and 8% of the workforce.
Top 5 Sustainable Players Poised for Success in 2023: A Year-End Roundup
https://businessnewsthisweek.com | Sujata | Dec. 18, 2023
As we bid farewell to 2023, the winds of change in the business landscape are undeniably green. A growing awareness of environmental responsibility and sustainable practices has led to the emergence of companies that not only prioritize profitability but also commit to making a positive impact on the planet. In this year-end roundup, we shine a spotlight on the top five sustainable players that have stood out in 2023. From reshaping financial services to redefining smart mobility, these companies are setting new standards for success by combining innovation with a steadfast commitment to sustainability.
Top 5 Sustainable Players Poised for Success in 2023: A Year-End Roundup
https://contentmediasolution.com | content media solution Business | Dec. 18, 2023
As we bid farewell to 2023, the winds of change in the business landscape are undeniably green. A growing awareness of environmental responsibility and sustainable practices has led to the emergence of companies that not only prioritize profitability but also commit to making a positive impact on the planet. In this year-end roundup, we shine a spotlight on the top five sustainable players that have stood out in 2023. From reshaping financial services to redefining smart mobility, these companies are setting new standards for success by combining innovation with a steadfast commitment to sustainability.
Navigating The Gig Wave: Year-End Insights Into Challenges & Solutions For Empowering Workers In 2023
https://news.abplive.com | ABP News Bureau | Dec. 15, 2023
Look Back 2023: This gig economy has exploded in popularity in the workforce, with more than seven million individuals engaged in micro-entrepreneurial activities
Budget 2024: What tax experts expect from FM Nirmala Sitharaman Budget 2024: What tax experts expect from FM Nirmala Sitharaman
https://www.livemint.com | Sangeeta Ojha | Dec. 14, 2023
Tax experts are closely watching for announcements in the upcoming Interim Budget 2024 that will impact the nation's economy. They expect gradual changes to personal income tax brackets and a focus on simplifying the GST regime and providing clarity on long-term capital gains tax
Synchronizing Compliance: Empowering Telecom Industry Through Regulatory Technology
https://timestech.in | Sandeep Agrawal | Dec. 12, 2023
The Indian telecom industry has come a long way from its humble beginnings. Post-liberalisation growth has seen the industry become the world’s second-largest communications market. Telecommunication services today are a critical infrastructure that facilitates the functions of the economy, administration, and society. Even with a one billion+ subscriber base and 800 million+ internet users, the overall teledensity is just above 84%, with the rural market remaining largely untapped. While the industry has been going through a sustained period of growth, it is also weighed down by the complex regulatory framework. Telecom companies are in direct contact with petabytes and exabytes of sensitive user data on a daily basis. As such, it is imperative that the industry be carefully and thoroughly regulated. Consequently, specifying these businesses’ responsibility, accountability, and liability is essential.
Limited Infra, Complex Geography: India's '2G Free' Mission Is Not An Easy Task
https://www.businessworld.in | Abhishek Sharma | Dec. 6, 2023
Transitioning from 2G to higher-generation mobile networks can bring several key technological advantages to India like higher data speeds, increased productivity, global competitiveness, job creation and digital inclusion, say experts
Lessons from ED's crackdown on Byju's, Xiaomi to strengthen compliance
https://www.business-standard.com | Peerzada Abrar | Nov. 29, 2023
On November 21, the Enforcement Directorate (ED) issued a showcause notice of Rs 9,362 crore to Think & Learn, the parent company of edtech giant Byju's, and its founder Byju Raveendran for alleged violations of foreign exchange rules while attracting foreign investments from 2011 to 2023. The central probe agency charged them with contravening foreign exchange provisions, according to an order issued by the adjudicating authority of the Foreign Exchange Management Act (FEMA). This is the second-largest showcause to a unicorn, following a Rs 10,600 crore notice to Flipkart in 2021 for an alleged violation of foreign exchange rules.
Navigating the Regulatory Maze: The Role of Compliance Technology in Telecommunications
https://www.expresscomputer.in | Sandeep Agrawal | Nov. 20, 2023
The Indian telecommunications sector has seen considerable progress since its inception. Following liberalisation, the sector has now become the second-largest communications market globally. Present-day telecommunication services are an indispensable infrastructure component, enabling the government, economy, and society. The sector now has over 800 million people connected to low-cost, high-speed internet and over one billion subscribers. Despite enduring a period of consistent growth, the sector is burdened by an intricate regulatory framework.
IT firms can place staff in different locations: TeamLease RegTech CEO
https://www.financialexpress.com/ | Sameer Ranjan Bakshi | Nov. 17, 2023
The statement comes a day after IT employees’ union alleged that TCS has transferred more than 2,000 employees to different cities without proper notice or consultation.
Tech-forward compliance: Maximizing growth and minimizing risk in digital age
https://www.dqindia.com | Supriya Rai | Nov. 6, 2023
In today’s rapidly evolving digital landscape, the integration of technology and compliance has become a pivotal factor in ensuring sustainable growth while mitigating potential risks. The concept of tech-forward compliance revolves around leveraging innovative tools, automation, and data-driven strategies to streamline regulatory adherence, enhance operational efficiencies, and foster growth opportunities.
Navigating the gig economy: Legal implications for businesses and workers
https://www.financialexpress.com | Sandeep Agrawal | Oct. 29, 2023
While ‘gig workers’ have been defined under section 2(35) of the Code of Social Security, 2020 as a person who participates in a work arrangement and earns from such activities outside a traditional employer-employee relationship, the codes are yet to be notified.
A Tale of Retail
https://www.indialegallive.com | Sujit Bhar | Oct. 28, 2023
India’s burgeoning retail sector is caught between a rock and a hard place, between subsisting on thin margins and rising client expectations. The government needs to put in place its trade policy with alacrity
Challenges And Solutions In Gig Economy: How To Empower Workers For More Secure Future
https://news.abplive.com | Sandeep Agrawal | Oct. 25, 2023
Gig workers are neither permanent nor fixed-term employees but partners, as such, they become ineligible for social security benefits and schemes under the present labour law regime
Several firms face filing hurdles post new rule introduced by MCA
https://economictimes.indiatimes.com/ | Pavan Burugula | Oct. 22, 2023
Market participants say, the issue is prominent while filing AOC4 form - one of the forms that companies have to pay in annual statements. The form still allows the auditors to file statements with absolute numbers.
Tax collected at source: You have to pay TCS on bike, EV, car of more than this amount
https://economictimes.indiatimes.com | Neelanjit Das | Oct. 19, 2023
The seller of a motor vehicle will collect TCS from the buyer if the value of the motor vehicle is over Rs 10 lakh. However note that TCS is not an additional tax and this amount can be claimed back at the time of income tax return (ITR) filing.
How banks can plug compliance loopholes amid RBI's penalty blitz
https://www.businesstoday.in | Anand Adhikari | Oct. 19, 2023
RBI found a range of compliance violations by banks from misclassifying fraud cases, failure to report fraud cases, breaching recovery agent guidelines, neglecting due diligence on project viability, and exceeding intra-group exposure limits
Microscopic oversight a barrier to job creation, business growth
https://www.tpci.in | Rishi Agrawal | Oct. 18, 2023
Amid the rapidly evolving business landscape, the importance of Regulation Technologies, commonly referred to as RegTech, cannot be overstated. RegTech encompasses a wide range of technological solutions designed to streamline and optimize regulatory compliance processes. These innovative tools provide companies with the means to not only navigate the complex web of regulations but also to leverage them as catalysts for expansion. India Business and Trade spoke with Rishi Agrawal, Co-founder and CEO, TeamLease RegTech, on the various aspects of regulation technologies, including technological advancements in the field and the need to optimise Ease of Doing Business (EoDB), through effective execution of rationalization, digitization, and decriminalization for the growth of a business.
Reinforcing compliance management in industrial estates
https://www.constructionworld.in | CW Team | Oct. 17, 2023
Whether it’s a conventional warehouse, a modest godown, refrigerated storage, or a modern distribution centre, businesses are actively seeking warehousing solutions. In addition to conforming to global standards, businesses have to comply with the associated regulatory requirements, writes Rishi Agrawal Co-founder and CEO TeamLease RegTech
India’s FMCG sector faces regulatory obligations, one too many
https://www.bizzbuzz.news | Ritwik Mukherjee | Oct. 12, 2023
The much-hyped ‘Ease of Doing Business Index’ notwithstanding, an enterprise in India in the FMCG sector needs at least 23 licenses and registrations under 14 Acts to start a manufacturing facility. Additionally, once the enterprise starts operations, it must adhere to over 1,252 unique compliance obligations. These include maintenance of records, returns, and filings under the state-specific labour laws; Food Safety & Standard Act, 2006 and Food Safety & Standard Rules, 2011; and Warehouse Rules, among others.
831 unique compliances for a small agricultural and dairy product FMCG
http://www.fnbnews.com | FnB News | Oct. 11, 2023
India, the fifth largest economy in the world in terms of Gross Domestic Product (GDP), also stands as the second runner-up in terms of purchasing power parity (PPP). Reaching the $5 trillion mark by 2027 will translate into $16 trillion in GDP in terms of PPP. This brings to immediate notice that Indian consumer spending is expected to grow to $6 trillion by the end of the decade and that there is explosive growth in the number of high-income and middle-income households. This growth is not limited to tier 1 cities, as tier 2 and tier 3 cities have already overtaken metropolitan cities in retail consumption. The FMCG sector is set to experience increased demand from rural and semi-urban areas as the average household gets access to more and more disposable income, with FMCG accounting for 50% of the total rural spending.
Demystifying Demat Account Compliance: A Guide To Ensuring Your Investments Stay Secure
https://news.abplive.com | ABP News Bureau | Oct. 11, 2023
In line with CBDT notification, stock exchanges, depositories and SEBI have made it mandatory to link PAN with Aadhaar numbers, failing which investors now face severe restrictions
Navigating agricultural compliance maze for agriculture and dairy products
http://www.fnbnews.com | Admin | Oct. 10, 2023
An enterprise in the agricultural and dairy products sector must comply with 831 unique regulatory compliances. India is the fifth-largest economy and is projected to reach $5 trillion in GDP by 2027. Tier 2 and tier 3 cities in India have overtaken metropolitan cities in retail consumption. 📊 FMCG sector experiences increased demand from rural and semi-urban areas, accounting for 50% of rural spending. TeamLease Regtech's report explores compliance challenges in the FMCG sector.
831 unique compliances for a small agricultural and dairy product FMCG Reports Teamlease Regtech
https://www.apnnews.com | APN News | Oct. 6, 2023
TeamLease Regtech, India’s leading Regulatory Technology solutions company, has released its report titled ‘Simplifying Compliance Management for the FMCG Sector.’ The report provides an overview of the complexity of compliance and the challenges entrepreneurs and employers face in the FMCG sector. It also delves deep into the present regulatory framework and sugge
Ease of business? Agricultural, dairy FMCGs need to meet 3k obligations a year, says report
https://theprint.in | Yuthika Bhargava | Oct. 4, 2023
The report “Simplifying Compliance Management for the FMCG sector” – shared with ThePrint – noted that FMCG was the fourth-largest economic sector and boasts a 3-million strong workforce. The sector’s growth, it said, can be attributed to consumer-driven factors such as a rise in rural consumption, an increase in disposable income, and higher standards of living.
Navigating Wild West Of Finfluencers: SEBI's Mission To Protect Investors
https://news.abplive.com | ABP News Bureau | Sept. 18, 2023
The changing landscape of financial influence in the age of social media is reflected in SEBI's decision to regulate the activities of financial influencers.
What is composition scheme of GST, who is eligible and how to opt for it
https://economictimes.indiatimes.com | Neelanjit Das | Sept. 18, 2023
An individual can opt for composition scheme under GST either at the beginning of the financial year by filing GST CMP-02 form or at the time of registration for GST. One cannot opt for a composition scheme under GST during the middle of the year," says Chartered Accountant Sandeep Agrawal, director, TeamLease Regtech, regulatory technology compliance company.
Licence Raj: compliance framework needs overhaul
https://brewsnspirits.in | Sandeep Agrawal | Sept. 11, 2023
Beverage alcohol is one of India’s most under-appreciated industries, employing over 20 million people directly or indirectly, with a market size of over US$ 50 billion. An estimated 300 million individuals consume alco-beverages in the country, making it the third-largest market in the world.
G20 leaders emphasis on digital infrastructure a comprehensive vision for the future, says tech industry
https://tech.hindustantimes.com | PTI | Sept. 10, 2023
Compliance Management Software Company Teamlease Retch's CEO and Co-founder Rishi Agrawal said it is time to expand India's role in pushing expedited adoption of DPIs across the
developing and developed worlds.
(DPI) will enable an inclusive, open, and secure digital economy across the world. India's plan to build and maintain a global repository of DPI will position it to be the world's next economic
superpower in the digital age," he added.
G20 Summit: Startups hope Delhi Declaration to help ease capital access
https://www.business-standard.com | Aryaman Gupta & Shivani Shinde | Sept. 10, 2023
This would, in turn, reduce risk and further enable investments, adds Sandeep Agrawal, director and co-founder, Teamlease Regtech – a software-as-a-service (SaaS) startup. "In addition, it will also promote seamless sharing of knowledge and give rise to opportunities for collaboration," he says
G20 Summit: Startups hope Delhi Declaration to help ease capital access
https://www.business-standard.com | Aryaman Gupta & Shivani Shinde | Sept. 10, 2023
This would, in turn, reduce risk and further enable investments, adds Sandeep Agrawal, director and co-founder, Teamlease Regtech – a software-as-a-service (SaaS) startup. "In addition, it will also promote seamless sharing of knowledge and give rise to opportunities for collaboration," he says.
Sebi Plans To Rollout One Hour Trade Settlement: What It Means For Investor, Brokers
https://www.businessworld.in | Manthati Sai Kiran | Sept. 8, 2023
Rishi Agrawal, CEO and co-founder of Teamlease RegTech, expressed his concerns. He said, “Regulatory reporting obligations of key market participants, such as brokers, clearing corporations, depository institutions, and fund houses, will be affected. They must modify their technology systems from an end-of-day batch processing mode to hourly processing.”
Investors will have faster cash in hand as SEBI plans one hour trade settlement
http://www.smetimes.in | IANS | Sept. 7, 2023
Rishi Agrawal, CEO and Co-Founder, Teamlease RegTech said the change is great news for investors. In the T+1 settlement cycle, liquidity becomes available in a couple of days. With the hourly settlement, this cycle will be further crunched, making capital market investments even more attractive. In addition, the change will also free up a significant chunk of margin money that brokers maintain with the clearing corporation.
Investors will have faster cash in hand as SEBI plans one hour trade settlement
http://www.smetimes.in | IANS | Sept. 7, 2023
Rishi Agrawal, CEO and Co-Founder, Teamlease RegTech said the change is great news for investors. In the T+1 settlement cycle, liquidity becomes available in a couple of days. With the hourly settlement, this cycle will be further crunched, making capital market investments even more attractive. In addition, the change will also free up a significant chunk of margin money that brokers maintain with the clearing corporation.
Investors will have faster cash in hand as SEBI plans one-hour trade settlement
https://www.greaterkashmir.com | Greater Kashmir | Sept. 6, 2023
Investors will get faster settlement and they will have faster cash in hand. It is like having an UPI where transactions are settled quickly.
Investors will have faster cash in hand as SEBI plans one hour trade settlement
https://www.sakshipost.com | SakshPost | Sept. 6, 2023
Rishi Agrawal, CEO and Co-Founder, Teamlease RegTech said the change is great news for investors. In the T+1 settlement cycle, liquidity becomes available in a couple of days. With the hourly settlement, this cycle will be further crunched, making capital market investments even more attractive. In addition, the change will also free up a significant chunk of margin money that brokers maintain with the clearing corporation.
Investors will have faster cash in hand as SEBI plans one hour trade settlement
https://telanganatoday.com | IANS | Sept. 6, 2023
Investors will get faster settlement and they will have faster cash in hand. It is like having an UPI where transactions are settled quickly. It will mark a significant leap in transparency and efficiency in the Indian stock market offering investors real time access to their assets which will further attract resident investors in our stock market.
SEBI plans one hour trade settlement to accelerate cash flow for investors
https://theshillongtimes.com | The Shillong Times | Sept. 6, 2023
As per IANS, this move promises faster settlements and liquidity, akin to the efficiency of UPI transactions. It signifies a significant stride towards transparency and efficiency in the Indian stock market, providing investors with real-time asset access, thus attracting more resident investors.
Investors will have faster cash in hand as SEBI plans one hour trade settlement
https://reporterpost.in | Admin | Sept. 6, 2023
Rishi Agrawal, CEO and Co-Founder, Teamlease RegTech said the change is great news for investors. In the T+1 settlement cycle, liquidity becomes available in a couple of days. With the hourly settlement, this cycle will be further crunched, making capital market investments even more attractive. In addition, the change will also free up a significant chunk of margin money that brokers maintain with the clearing corporation.
Investors will have faster cash in hand as SEBI plans one hour trade settlement
https://www.newkerala.com | newkerala.com | Sept. 6, 2023
Investors will get faster settlement and they will have faster cash in hand. It is like having an UPI where transactions are settled quickly.
Investors will have faster cash in hand as SEBI plans one hour trade settlement
https://www.zeebiz.com | IANS | Sept. 6, 2023
Rishi Agrawal, CEO and Co-Founder, Teamlease RegTech said the change is great news for investors. In the T+1 settlement cycle, liquidity becomes available in a couple of days.
SEBI To Introduce 1-Hour Trade Settlements By End Of This Fiscal
https://news.abplive.com | ABP News Bureau | Sept. 5, 2023
The SEBI is thinking of rolling out the one hour trade settlement for all investors by March next year, and is looking at a time frame of 6-8 months more for the instantaneous settlements
Compliance Technology: What Is It? How It Can Help Companies Adhere To Regulations
https://news.abplive.com | ABP News Bureau | Aug. 24, 2023
India is pushing digital boundaries like never before. As per the National Payments Corporation of India (NPCI), transactions via unified payments interface (UPI) touched the 9-billion landmark in May 2023, registering a jump of nearly 1 billion in one month and seeing a total amount of Rs 14.89 lakh crore. Thanks to affordable smartphones and relatively cheaper Internet, India is home to nearly 1.10 billion mobile users and around 690 million Internet users.
While the numbers are worth a drumbeat, it also necessitates overwatch and enforcement of fair-use regulation among private and public institutions alike. To facilitate a seamless enforcement of compliance regulations, technology can offer a helping hand.
Tax Audit Deadline: The last date for submission of income tax audit has been announced, it is necessary to follow these income tax rules
https://hindi.economictimes.com | Rizwan Noor Khan | Aug. 24, 2023
The government's mandate for income tax audit among business firms and professionals crossing specific income limits shows commitment to financial transparency and accountability. This ensures the accuracy of financial records and ITR and reflects the reported income and expenses with the correct financial activities. Whereas, such audits also work to prevent tax evasion.
Chartered accountant Sandeep Agarwal, director of financial regulation firm TeamLease RegTech, said tax audit reports prevent entities, companies from misrepresenting income or inflating expenses to reduce tax responsibilities. The government prevents tax evasion through audit of account books.
Tax Audit Deadline: Big News! Income tax audit submission deadline announced, taxpayers check immediately
https://www.informalnewz.com | Shyamu Maurya | Aug. 24, 2023
The government’s mandate for income tax audit among business firms and professionals crossing specific income limits shows commitment to financial transparency and accountability. This ensures the accuracy of financial records and ITR and reflects the reported income and expenses with the correct financial activities. Whereas, such audits also work to prevent tax evasion.
When is the last date to submit an income tax audit report?
https://economictimes.indiatimes.com | Neelanjit Das | Aug. 23, 2023
The government's mandate for income tax audits among businessmen and professionals crossing specific income thresholds demonstrates a commitment to financial transparency and accountability. This measure serves multifaceted purposes. Firstly, it ensures the accuracy of financial records and ITRs, aligning reported income and expenses with actual financial activities. Secondly, such audits act as a deterrent against tax evasion, discouraging entities from misrepresenting income or inflating expenses to lower tax obligations,” says Chartered Accountant Sandeep Agrawal, Director, TeamLease Regtech, a regulatory compliance technology company.
Rationalisation, Digitisation, Decriminalisation: How India Inc. is Embracing Compliance Technology
https://news.abplive.com | Sandeep Agrawal | Aug. 10, 2023
The digital revolution in India is gathering steam, with more and more services adopting technological solutions. What was once thought to be an impossible task is now a reality as everyone, from roadside vendors to pop-up shops to high-end shops and establishments, accepts payments via UPI. While our ears have gone numb with reports of record-breaking figures, NPCI reported 9.96 billion transactions worth Rs 15.3 trillion in July 2023, we must not forget that this growth is a result of increasing access and affordability. The average Indian is now connected to high-speed Internet via smartphones and wants instant delivery of goods and services.
Borrowing from a digital lending app? Spot the red flags first
https://www.moneycontrol.com | HIRAL THANAWALA | Aug. 2, 2023
The number of complaints against digital lending apps has more than doubled to 1,062 in FY23, the finance ministry told Lok Sabha in July 2023. Further, as per the National Crime Records Bureau (NCRB), the total number of cyber fraud cases, which includes frauds committed through online apps, stood at 14,007 in 2021, as per the latest available data.
Alco-beverage Industry encounters complexity of compliance to set up production units
http://www.fnbnews.com | FnB News | July 12, 2023
India is one of the fastest-growing alco-beverage markets in the world, with an estimated market size of $52.5 billion (2020) and is expected to grow at a CAGR of 6.8%. The alcohol consumer base is set to reach 386 million people in India by the end of the decade, with almost 13 million people reaching the legal drinking age in the country every year.
99 licences and 3000 annual compliances make life difficult for alco-bev units in India: Report
https://hospitality.economictimes.indiatimes.com | ET Hospitality World | July 12, 2023
Despite tall claims by the government about implementing Ease of Doing Business (EoDB)
across sectors, a report by TeamLease Regech, a regulatory technology (RegTech) solution
provider, has brought to light complexity associated with alco-beverage industry which
mandates innumerable number of licences and registrations and annual compliances in the
country.
Alco-Beverage Industry Faces Complex Compliance Challenges: Report
https://bwretailworld.businessworld.in | BW RETAIL WORLD BUREAU | July 12, 2023
The report finds that an enterprise needs at least 99 licenses and registrations under 67 Acts for setting up a manufacturing facility from scratch. While some of these licenses can be obtained within 15 days, a majority of licenses have no attached timeline for approval. As such, getting all required approvals may take anywhere between 3-4 years for an entrepreneur.
According to the report, once the enterprise starts operations, it needs to adhere to over 3,000 compliance obligations in a year. These include maintenance of records, returns, and filings under the specific state excise policy; Food Safety & Standard Act, 2006 and Food Safety & Standard Rules, 2011; State Excise Bonded Warehouse Rules, and State Liquor Licence Rules, among others.
Jan Vishwas Bill will pave way for decriminalisation of more offences: TeamLease RegTech's Rishi Agrawal
https://www.moneycontrol.com | Pallavi Singhal | July 12, 2023
According to the Economic Survey 2022-23, decriminalisation of minor economic offences under the Companies Act of 2013 has led to 400,000 companies willingly rectifying their past defaults to avoid penalties. Furthermore, after the reform, more than 1,400 default cases have been decided without going to a court of law.
Enterprises need at least 99 licenses and registrations to set up manufacturing facility for alcoholic beverages: Reports Teamlease Regtech
https://newspatrolling.com | Pankaj Bansal | July 11, 2023
India is one of the fastest-growing alco-beverage markets in the world, with an estimated market size of $52.5 billion (2020) and is expected to grow at a CAGR of 6.8%. The alcohol consumer base is set to reach 386 million people in India by the end of the decade, with almost 13 million people reaching the legal drinking age in the country every year. The growing demand is mainly contributed by multiple factors such as rapid urbanisation, favourable demographics, changing social norms and consumer preferences, mainly among the younger population, rising disposable income for the middle-class population, and increased accessibility and availability.
Teamlease Regtech Explained Licensing and Regulatory Process to Set Up Manufacturing for Acoholic Beverages
https://smestreet.in | SMEStreet Edit Desk KR | July 10, 2023
India is one of the fastest-growing alco-beverage markets in the world, with an estimated market size of $52.5 billion (2020) and is expected to grow at a CAGR of 6.8%. The alcohol consumer base is set to reach 386 million people in India by the end of the decade, with almost 13 million people reaching the legal drinking age in the country every year. The growing demand is mainly contributed by multiple factors such as rapid urbanisation, favourable demographics, changing social norms and consumer preferences, mainly among the younger population, rising disposable income for the middle-class population, and increased accessibility and availability.
Starting an alco-beverage enterprise needs at least 99 licenses
https://retail.economictimes.indiatimes.com | ET Retail Desk | July 10, 2023
According to the Indian Council for Research on International Economic
Relations (ICRIER), India is one of the fastest-growing markets globally,
with an estimated market size of $52.5 billion (2020), and is expected to
grow at a CAGR of 6.8%. In 2022, the global alco-beverage market was
estimated to be worth $1.55 trillion.
Enterprises need at least 99 licenses and registrations to set up manufacturing facility for alcoholic beverages: Reports Teamlease Regtech
https://cxotv.techplusmedia.com | CXO | July 10, 2023
India is one of the fastest-growing alco-beverage markets in the world, with an estimated market size of $52.5 billion (2020) and is expected to grow at a CAGR of 6.8%. The alcohol consumer base is set to reach 386 million people in India by the end of the decade, with almost 13 million people reaching the legal drinking age in the country every year. The growing demand is mainly contributed by multiple factors such as rapid urbanisation, favourable demographics, changing social norms and consumer preferences, mainly among the younger population, rising disposable income for the middle-class population, and increased accessibility and availability.
OBD2 Compliant 2023: What Is This Two-Wheeler Compliance Norm? Read This To Know Details
https://www.dnpindia.in | Sanjana Saini | July 9, 2023
The government has mandated OBD2 Compliant engines for two-wheelers in India. To reduce pollution levels, the government of India has taken this step and mandated the necessity of OBD2-compliant engines.
This On-board diagnostic system is efficient in detecting technical failures in bikes or two-wheelers. This system is found in all modern cars and vehicles. With this OBD2 system, all components of a vehicle are monitored so that their performance can be tracked. Moreover, it can also be helpful to detect any technical glitch that may occur unexpectedly.
As the government has passed a new norm for two-wheelers, Royal Enfield, the bike manufacturer updated its bikes as per this newly introduced norm. The government has introduced this now to make two-wheelers companies come up with vehicles that produce less carbon emission.
The legendary two-wheeler manufacturer company, Royal Enfield has introduced its Classic 350, Himalayan, Interceptor 650, and Continental GT 650 bikes, which comply with OBD2 norm and E20 fuel.
ITR filing: Not linking PAN with Aadhaar can cost you Rs 6,000
https://economictimes.indiatimes.com | Neelanjit Das | July 7, 2023
Now that the deadline for PAN Aadhaar linking is over, your PAN card will be tagged as in-operative. So to make it operative again it takes a maximum of 30 days, during which time you may miss out the deadline for filing of your income tax return. Read on to find out what happens now.
Took PAN-Aadhaar linking too lightly? Now, Rs 6,000 fine awaits you - Here's why
https://www.timesnownews.com | ET Now Digital | July 7, 2023
As per government directive, if PAN has not been linked with Aadhaar by June 30, 2023, it will be
tagged as in-operative. As a result, taxpayers might not be able to file income tax returns before
July 31, 2023.
All this is because, once the PAN becomes inoperative it will take a maximum of 30 days for it to
become active again. In order to make an inoperative PAN operative, the concerned taxpayer will
have to pay a fine of Rs 1,000.
Navigating compliance challenges: Empowering MSMEs for sustainable growth in advance of MSME Day 2023
https://timesofindia.indiatimes.com | Sandeep Agrawal | July 6, 2023
Micro, Small, and Medium Enterprises (MSMEs) are a vital source of economic growth, innovation, and job prospects in any country. In India, these resilient businesses are of paramount importance as they make up the very foundation of our economy. But they are also faced with various challenges, and the complexity of the business regulatory ecosystem does not help. As we celebrate International MSME Day, it is our duty to shed light on the important role these businesses play and address the urgent need to improve the ease of doing business for these entrepreneurs. By embracing digital solutions, we can pave the way for a more inclusive, competitive, and sustainable future for MSMEs in India and across the world.
AVACOM In Center: Sandeep Agrawal On TeamLease Regtech’s Role In Corporate Compliance And Risk Mitigation
https://techgraph.co | Krishna Mali | June 21, 2023
The in-house technology team at TL RegTech consists of experts in technology infrastructure and security. As an organization, we have adopted the latest technological practices to ensure security and availability. Business Continuity Plans (BCP) and Disaster Recovery Plans (DRP) have been put in place along with fully encrypted platforms (covering data at rest and in motion with AES 256-bit symmetric encryption).
A variety of other internal activities are performed to manage security daily. These activities include designing network infrastructure to manage DDOS attacks and implementing web application firewalls among others. Furthermore, third-party security experts (such as CERT-IN-certified firms) conduct periodic reviews of all platforms, and we have also obtained global IT Security certification (SOC II).
Breaking Free from Paper Chains: Embracing Regtech for Efficient and Eco-Friendly Compliance
https://www.expresscomputer.in | Sandeep Agrawal | June 5, 2023
Enterprises today need robust and efficient compliance management systems that surpass manual record-keeping and filings. While traditional paper-based methods have proven insufficient, the introduction of technology has merely shifted the burden to spreadsheets and Word documents. What is truly needed is a centralized repository for documents and regulatory updates, that provides a streamlined approach to compliance management.
Growing India’s grossly untapped e-commerce market potential with ONDC
https://www.digiconasia.net | Swaminathan | May 31, 2023
ONDC will act as a catalyst for small retailers to grow and expand their businesses. The potential growth will expose them to the challenges related to compliance with a dynamic, fluid, and complex regulatory framework that requires stakeholders to straddle a tightrope of statutory and regulatory obligations.
Sellers will need to abide by compliances around the maintenance of records of returns, refunds, cancellations, and Know Your Customer requirements, among others.
In addition, they will also be required to adhere to compliance requirements around the collection and processing of personal data of users. Consequently, sellers will be required to put extra emphasis on data protection compliance obligations.
Running a retail company in India has high risk of getting imprisoned
https://economictimes.indiatimes.com | ET Online | May 31, 2023
The Teamlease Regtech report mentions a monograph titled 'Jailed for Doing Business', co-authored by Gautam Chikermane and Rishi Agrawal, which uncovers the nature and extent of the risks of imprisonment faced by entrepreneurs in the country. The monograph highlights that a sizable portion of compliance clauses criminalises procedural violations and technical lapses rather than serious offences involving willful harm. It illustrates that in many cases, there is an equivalence between punishment.
Over 3,000 rules for retail sector to follow, 37% bring risk of jail time
https://www.business-standard.com | BS Web Team | May 30, 2023
The report titled 'Simplifying Compliance Management for the Retail Industry' looks into the challenges faced by the retail sector, especially when operating as an organised business.
The report provides insights into compliance-related complexities and challenges faced by entrepreneurs and employers in the retail sector. The report assumes significance since the government has reiterated the success of its ease of doing business initiatives.
Less stringent compliances should govern Indian retail sector
https://www.bizzbuzz.news | Biz Buzz | May 30, 2023
Retail companies are also subject to a host of industry-specific requirements based on their product category. For outlets dealing in groceries and food items, the major regulations stem from the Food Safety & Standards Act, 2006 and Food Safety & Standard Rules, 2011; Food Safety and Standards (Licensing and Registration of Food Businesses) Regulations, 2011, and Food Safety and Standards (Packaging) Regulations, 2018, among others. These include ensuring that the food article being sold is not misbranded, unsafe, or sub-standard. In addition, there has to be a food safety board displayed at a prominent place, and the food items cannot be stored in metal or metal alloys of sub-standard quality, among others.
Squeeze of doing business: Indian retailers face over 3,000 regulations, a third bring risk of jail time
https://theprint.in | TCA SHARAD RAGHAVAN | May 29, 2023
The government has been trying to enhance the ease of doing business in India, but a new report has found that companies operating in the retail sector have to ensure that they comply with more than 3,000 regulations, with 37.5 per cent of these inviting jail-time in case of non-compliance.
Trailblazing Technology-Enabled Companies Shaping Industries for a Digital Future
https://www.itvoice.in | Sherwin Shaju | May 26, 2023
In today’s fast-paced digital era, technology plays a pivotal role in shaping the way businesses operate and engage with their customers. Amidst this transformative landscape, a select group of innovative companies have emerged as trailblazers, leveraging technology to disrupt traditional norms and revolutionize their respective industries. From enhancing customer experiences and simplifying compliance to fostering financial inclusion and fortifying cybersecurity, these five technology-enabled companies are leading the charge towards a more efficient and interconnected future.
How AI technology changing the face of different industries
https://www.bizzbuzz.news | Kumud Das | May 25, 2023
The rise of AI in the regulatory landscape is significantly redefining the way regulators are enforcing the law and businesses are managing compliance obligations. Such technologies become more relevant considering the existing complex and spread compliance ecosystem with thousands of compliances and filings coupled with constant changes to the regulatory environment published across 2,233 government websites at the central, state, and municipal levels.
MSME ministry makes Aadhaar authentication for informal micro units voluntary to boost Udyam registration
https://www.financialexpress.com | Sandeep Soni | May 25, 2023
Ease of doing business for MSMEs: The notification followed the proposal submitted by the MSME ministry to the central government for the Aadhaar authentication “in the interest of good governance, preventing leakage of public funds, promoting ease of living of residents and enabling better access to services for them
Rationalising, digitising, decriminalising regulations key to ease of doing business for MSMEs
https://www.financialexpress.com | Sandeep Agrawal | May 13, 2023
India’s Micro, Small, and Medium Enterprises (MSME) sector employs more than 110 million people and covers over 63 million MSMEs. The micro segment alone accounts for 99 per cent of the total enterprises and 97 per cent of the total employment. MSMEs are a critical pillar of economic growth for remote and backwater areas, with 51 per cent of the enterprises belonging to rural areas. The significance of these establishments cannot be understated, and as such, it is imperative to understand the challenges and obstacles they face.
Role of AI technology in different sectors
https://onlinemediacafe.com | Sandeep Agrawal | May 11, 2023
The rise of AI in the regulatory landscape is significantly redefining the way regulators are enforcing the law and businesses are managing compliance obligations. Such technologies become more relevant considering the existing complex and spread compliance ecosystem with thousands of compliances and filings coupled with constant changes to the regulatory environment published across 2,233 government websites at the central, state, and municipal levels.
How TeamLease RegTech helping cos meet regulatory compliance on time, save money
https://www.bizzbuzz.news | Kumud Das | May 11, 2023
Sandeep Agrawal, Director & Co-Founder, TeamLeaseRegTech in an exclusive interview with Bizz Buzz, says, “In this age of automation, organisations need to actively pursue digitisation as a key component of their compliance goals. The switch to digital compliance management can help employers create an automated process around compliance management and ensure real-time monitoring and accurate and cost-effective compliances”
Role of AI technology in different sectors
https://mediabulletins.com | Sandeep Agrawal | May 11, 2023
AI-powered platforms can analyze regulatory data submitted by businesses via various filings and digital submissions thereby supporting the regulators in real-time identification of specific non-compliances and patterns highlighting potential areas of investigation. With the help of such platforms, Regulators can be more proactive and efficient in law enforcement thereby significantly eliminating the need for physical audits/inspections.
Role of AI technology in different sectors
https://contentmediasolution.com | Sandeep Agrawal | May 11, 2023
The rise of AI in the regulatory landscape is significantly redefining the way regulators are enforcing the law and businesses are managing compliance obligations. Such technologies become more relevant considering the existing complex and spread compliance ecosystem with thousands of compliances and filings coupled with constant changes to the regulatory environment published across 2,233 government websites at the central, state, and municipal levels.
Role of AI technology in different sectors
http://pr.shreyaswebmediasolutions.com | Sandeep Agrawal | May 11, 2023
The rise of AI in the regulatory landscape is significantly redefining the way regulators are enforcing the law and businesses are managing compliance obligations. Such technologies become more relevant considering the existing complex and spread compliance ecosystem with thousands of compliances and filings coupled with constant changes to the regulatory environment published across 2,233 government websites at the central, state, and municipal levels.
National Technology Day 2023 Live Updates: Technology transforming industries
https://www.thehansindia.com | Sandeep Agrawal | May 11, 2023
AI is redefining the way regulators enforce laws and businesses manage compliance obligations. AI-powered platforms can analyze regulatory data, identify non-compliances, and support regulators in being more proactive and efficient in law enforcement. This reduces the need for physical audits and inspections and helps businesses stay compliant in real-time, reducing manual intervention and costs. Adoption of such platforms needs to be encouraged for end-to-end digitalization of regulatory obligations.
Role of AI technology in different sectors
http://businessnewsthisweek.com | Sandeep Agrawal | May 11, 2023
AI-powered platforms can analyze regulatory data submitted by businesses via various filings and digital submissions thereby supporting the regulators in real-time identification of specific non-compliances and patterns highlighting potential areas of investigation. With the help of such platforms, Regulators can be more proactive and efficient in law enforcement thereby significantly eliminating the need for physical audits/inspections.
Labour Day: India's bid to ape China is caught up in archaic laws
https://economictimes.indiatimes.com | Anand JC | May 1, 2023
“India's current labour laws are strewn with redundancy, and overlap, creating a high compliance burden. Although many states have already issued rules and draft notifications are available, the government has yet to implement the new labour codes,” said Rishi Agrawal, CEO and Co-founder of Teamlease Regtech.
Budget 2023: Will small businesses’ expectations fulfilled this time; here’s key points
https://businessconnectindia.in | Business connect India Admin | April 20, 2023
Over the course of the last six years, DPIIT has recognised more than 84,000 businesses under the Start Up scheme, creating employment for more than 0.86 million individuals in India. Although the existing system has numerous advantages, entrepreneurs still have to deal with a number of real-world problems. Union Budget 2023 should take into consideration increasing the “Tax Exemption” period from 3 years to 5 years without limiting the number of years within which a start-up can enjoy or claim the exemption.
According to Sandeep Agrawal, director and co-founder of Teamlease Regtech, start-ups are now unable to take use of this benefit, as evidenced by the fact that only 993+ enterprises out of more than 84,000 businesses have done so.
Streamlining compliance management for logistics and supply chain
https://www.itln.in | Rishi Agrawal | April 15, 2023
Logistics is an inherently crucial component that keeps a country’s economy functioning. A robust logistical infrastructure guarantees that resources are gathered, stored, transported, and delivered efficiently. It involves all facets of the supply chain including storage, warehousing, transport, packaging, unitisation, inventory management, and distribution among others. The industry accounts for around 14% of GDP with over 22 million people reliant on it for their livelihood. It is expected to reach a market valuation of $215 billion by 2024. The warehousing sector on its own is set to reach $20 billion in the next 2 years. Also Read:83% logistics firms missed at least one critical compliance, 91% paid fines in last 12 months: Report
Streamlining compliance management for logistics and supply chain
https://www.itln.in | Rishi Agrawal | April 15, 2023
Logistics is an inherently crucial component that keeps a country’s economy functioning. A robust logistical infrastructure guarantees that resources are gathered, stored, transported, and delivered efficiently. It involves all facets of the supply chain including storage, warehousing, transport, packaging, unitisation, inventory management, and distribution among others. The industry accounts for around 14% of GDP with over 22 million people reliant on it for their livelihood. It is expected to reach a market valuation of $215 billion by 2024. The warehousing sector on its own is set to reach $20 billion in the next 2 years.
Uptick in automation deals may hit customer support business
https://www.informistmedia.com | Reshab Shaw | April 13, 2023
As such older jobs will be impacted but at the same time (it) will be replaced by new technologies and new jobs for skilled and specially trained workers," says Rishi Agrawal, chief executive officer and co-founder of IT services and consulting firm TeamLease Regtech.
Importance of technology-backed procedure to manage a compliance program
https://timesofindia.indiatimes.com | Sandeep Agrawal | April 4, 2023
The Indian economy is the 5th largest in the world by GDP and 3rd largest by PPP (Purchasing Power Parity) and is expected to grow at 7% in FY24. This puts it on track to reach $10 trillion by 2030. This growth will see businesses grow and new companies come into existence. This puts the spotlight on the ease of doing business and the business laws of the country. As such, it is important for enterprises to invigorate compliance management and introduce technology-backed transformation.
Moneycontrol Policy Next | Govt should consider one integrated transport department under, create a single agency to look at logistics : Moneycontrol Panel on National Logistics Policy
https://www.moneycontrol.com | Money Control News | March 23, 2023
The central government should consider the integration of all transport departments under one entity in order to address all issues related to cargo movement and logistics in India, Vijay Chhibber, former secretary in the Ministry of Road Transport and Highways of India said.
Speaking at the Moneycontrol Policy Next event in Delhi, the Director General, of Energy Power Transmission said that despite the efforts taken by the central government in the last few years to develop physical and digital infrastructure in the logistics industry in India, the implementation on the ground has not seen a massive transformation.
To prepare for the future of compliance automation, leadership practices should be put in place
https://www.expresscomputer.in | Sandeep Agrawal Director | March 14, 2023
Within 75 years of Independence, India has displaced its former colonizers to become 5th largest economy in the world. The 7% growth rate of the economy puts the country well on track to reach the $10 trillion mark by the end of the decade. This growth will be supported by a $1 trillion+ digital economy and a business-conducive environment that is centred around ease of doing business. As such, ensuring compliance is essential for businesses to operate and grow. This makes compliance management a critical business process. An adequate compliance management framework helps a business in maintaining transparency and cultivate the trust of the market in its capabilities.
SVB Collapse: Should Indian Startups Keep Deposits In India?
https://www.entrepreneur.com | S Shanthi | March 4, 2023
Several Indian startups have been having sleepless nights ever since the news came out. Though the regulators have stepped in to support, this has made startups revisit their future business strategies. A dilemma that has arisen in the startup ecosystem is whether Indian tech companies should keep their deposits in India.
Why were nine in 10 logistics firms fined for regulatory lapses?
https://www.cips.org/ | Andrew Allen | March 1, 2023
The recently-introduced National Logistics Policy (NLP) aims to reduce the cost of logistics from the current 14% of GDP to 8% of GDP by 2030.
Yet a huge number of registrations, approvals, licenses, permissions, consent orders and certifications are required for every warehouse – making compliance difficult to achieve.
Even those companies which operate in a single state with one warehouse and a corporate office are required to comply with 648 regulations.
As companies expand in reach and scale the paperwork expands significantly, the report said.
91% OF LOGISTICS, SUPPLY CHAIN COMPANIES HAVE PAID FINES, PENALTIES IN PAST 12 MONTHS: STUDY
https://startup.outlookindia.com | Outlook Start-Up Desk | March 1, 2023
The report highlights the role of the logistics industry in the economy. It employs 22 million people and is on track to reach a valuation of $215 billion in the next two years. The National Logistics Policy (NLP) was recently introduced to address the infrastructure and policy gaps in the industry. The objective of this policy is to reduce the cost of logistics from the current 14 per cent of gross domestic product (GDP) to 8 per cent of GDP by 2030.
Latest News | Employer Compliance Needs Thorough Reexamination, Says Report
https://www.latestly.com | Latestly | March 1, 2023
Criminal penalties in business laws should be used with extreme restraint. Misdemeanours such as procedural lapses and technical non-compliances should be punished with financial penalties only whereas criminal penalties should be retained only for serious crimes involving intentional harm. All imprisonment clauses must go through legislative scrutiny at least once in five years, the report suggested. For this, sunset clauses can be introduced in the legislative process to ensure either the renewal or termination of imprisonment clauses depending on their need and relevance in light of the evolving business climate.
Employer compliance needs thorough reexamination, says report
https://hr.economictimes.indiatimes.com | HR World PTI | March 1, 2023
The report released by Teamlease Regtech, a regulatory technology (Regtech) solutions company, examines the sectoral concerns and gives an overview of the regulatory environment for the logistics and supply chain industry.
Nearly 91% logistics and supply chain companies paid fines in last 12 months
https://infra.economictimes.indiatimes.com | ET Online | March 1, 2023
According to the latest Team Lease Regtech report, nearly 91% of surveyed logistics and supply chain companies have agreed about paying fines and penalties in the past 12 months.
The logistics sector will significantly benefit from the National Logistics Policy : CEO of Teamlease Regtech
https://indiashippingnews.com | India Shipping News | March 1, 2023
According to Rishi Agrawal, CEO and Co-Founder of Teamlease Regtech, the logistics sector will significantly benefit from the National Logistics Policy.
He noted that the country is already starting to see the policy’s benefits.
“The NLP will comprise four major steps including integration of digital systems (IDS), unified logistics interface platform (ULIP) and ease of logistics along with the systems of improvement goods. So some of the work is already getting done, the country is already starting to see some benefit of it,” he said.
Agrawal explained that a single entity has to deal with multiple compliances in India, which makes it challenging to conduct business efficiently. However, with the National Logistics Policy’s introduction, the logistics sector can expect a more streamlined process, and the compliance burden will reduce.
Employer compliance needs thorough reexamination, says report
https://economictimes.indiatimes.com | Economic times | Feb. 28, 2023
The report released by Teamlease Regtech, a regulatory technology (Regtech) solutions company, examines the sectoral concerns and gives an overview of the regulatory environment for the logistics and supply chain industry.
83% logistics firms missed at least one critical compliance, 91% paid fines in last 12 months: Report
https://www.itln.in | Indian Transport and Logistics News | Feb. 28, 2023
The report examines sectoral concerns and gives an overview of the regulatory environment for the logistics and supply chain industry. It suggests specific action items that can help enterprises manage their compliance requirements more effectively. The report highlights the crucial role of the logistics industry in the economy.
Employer compliance needs thorough reexamination: Report
https://psuwatch.com | PSU WATCH BUREAU | Feb. 28, 2023
The report released by Teamlease Regtech, a regulatory technology (Regtech) solutions company, examines the sectoral concerns and gives an overview of the regulatory environment for the logistics and supply chain industry. There is a lot of duplication, redundancy and overlap across compliances, the report noted and recommended that a detailed analysis of such opportunities should be conducted.
Teamlease Regtech releases Report on Logistics & Supply Chain Industry
https://www.ecargolog.in | Ecargolog | Feb. 28, 2023
The report highlights the crucial role of the logistics industry in the economy. It employs 22 million people and is on track to reach a valuation of $215 billion in the next two years. The National Logistics Policy (NLP) was recently introduced to address the infrastructure and policy gaps in the industry. The objective of this policy is to reduce the cost of logistics from the current 14% of GDP to 8% of GDP by 2030. In addition, there has been a renewed focus on implementing technological solutions to push paperless trade operations and place India within the top 25 on the Logistics Performance Index (LPI).
Nearly 91% logistics and supply chain companies paid fines in last 12 months: Teamlease
https://economictimes.indiatimes.com | ET Online | Feb. 28, 2023
According to the latest TeamLease Regtech report, nearly 91% of surveyed logistics and supply chain companies have agreed about paying fines and penalties in the past 12 months.
National Logistics Policy will bring ease of logistics, says Teamlease Regtech
https://www.cnbctv18.com | Parikshit Luthra | Feb. 28, 2023
The introduction of the National Logistics Policy is a significant step towards streamlining the logistics sector and enhancing its growth potential. The policy's positive impact will help reduce the compliance burden on the sector and create a more efficient process, which will benefit various industries dependent on it. If executed well, the National Logistics Policy could play a vital role in India's economic growth, making it an essential policy for the country's long-term future.
Teamlease Regtech releases ‘Simplifying Compliance Management For The Logistics & Supply Chain Industry’ report
https://konexionetwork.com | Konexion Network Correspondent | Feb. 28, 2023
Teamlease Regtech, India’s leading Regulatory Technology (Regtech) solutions company, has released its report titled ‘Simplifying Compliance Management for The Logistics & Supply Chain Industry’. The report examines sectoral concerns and gives an overview of the regulatory environment for the logistics and supply chain industry. It suggests specific action items that can help enterprises manage their compliance requirements more effectively.
Navigating Compliance Turbulence: Lessons from Aviation’s Regulatory Frontiers
https://travelbizmonitor.com | Rishi Agrawal | Feb. 15, 2023
In the ever-evolving landscape of civil aviation, recent fines imposed by the Directorate General of Civil Aviation (DGCA) have underscored a pivotal challenge for the industry: maintaining compliance amidst a sea of complex regulations and standards. The aviation sector, known for its stringent regulatory environment, demands that organisations not only keep abreast of the latest directives but also integrate robust systems to ensure unwavering compliance. The recent actions taken by the DGCA against non-compliance scenarios have brought to light the urgent need for a systemic overhaul in how aviation giants manage and adhere to regulatory requirements.
Trends That Will Shape India's Deeptech Sector This Year
https://www.entrepreneur.com | S Shanthi | Feb. 14, 2023
Many macro conditions have come as a blessing in disguise for India's deeptech industry. For instance, the pandemic has resulted in an increased awareness towards sustainability, which has opened up doors for more deeptech use cases in the electric vehicle (EV) and climate change industries. The increased adoption of technology during lockdowns has paved the way for the adoption of artificial intelligence (AI), machine learning, internet of things, big data and robotics across sectors. Many deeptech startups are thus able to find the right product-market fit in India today.
ELI - 325 | Rishi Agrawal (Co-founder of TeamLease Regtech - Regulatory Technology solutions)
https://www.youtube.com | ELI | Feb. 10, 2023
How TeamLease RegTech is supporting India Inc to be compliant
Tiresome rules out,trust-based model in
https://www.livemint.com | Gulveen Aulakh & Shashank Mattoo | Feb. 2, 2023
While I eagerly await the fine print, continued focus on decriminalization of employer compliance via the Jan Vishwas bill is expected to mitigate deeply ingrained colonial hostility against India’s entrepreneurs. There is a clear push towards building a trust-based governance model," said Rishi Agrawal, CEO and co-founder of Teamlease Regtech.
Union Budget 2023: Decriminalisation proposal can make investors gung-ho about doing business
https://economictimes.indiatimes.com | Shariq Khan | Feb. 2, 2023
The Jan Vishwas Bill will alleviate deeply ingrained colonial hostility against India’s entrepreneurs and proposes to decriminalise 42 laws, says Rishi Agrawal, CEO and Co-Founder of TeamLease RegTech. "Currently, 2 out of every 5 employer compliances have a provision for jail term going up to 10 years. There are 26,134 such provisions," he says.
रोजगार और स्टार्टअप को बढ़ाने वाला बजट, विशेषज्ञों ने सराहा
https://zeenews.india.com | Zee Up, Uttarakhand | Feb. 2, 2023
टीमलीज रेगटेक सीईओ ऋषि अग्रवाल का कहना है कि पूंजीगत खर्च बढ़ाने के साथ ये रोजगार बढ़ाने वाला बजट है. सरकारी खर्च बढ़ने से रोजगार बढ़ेंगे. इसमें स्टार्टअप एवं एमएसएमई को प्रोत्साहन है. कारोबार में आसानी के कदम उठाए गए हैं.
Budget 2023 Reactions: Kotak Mahindra Asset Management Company MD lauds 'Baahubali budget'
https://www.livemint.com | Live Mint | Feb. 2, 2023
"Today’s Union Budget has made 05 announcements under the individual tax category. Most of these announcements aimed at making the New Tax regime more attractive for middle class salaried individuals. The Budget proposed 05 Tax Slabs (as against the 06 Slabs) and also increased the income limits under each slab thereby reducing the tax liabilities for individuals earning up to Rs. 15 Lakhs. The budget also provided an additional benefit of Rs. 52,500 to individuals earning over Rs. 15 Lakh via introduction of Standard deduction under the New Tax regime."
Budget 2023 Reactions: Kotak Mahindra Asset Management Company MD lauds 'Baahubali budget'
https://www.livemint.com | Live Mint | Feb. 2, 2023
"Today’s Union Budget has made 05 announcements under the individual tax category. Most of these announcements aimed at making the New Tax regime more attractive for middle class salaried individuals. The Budget proposed 05 Tax Slabs (as against the 06 Slabs) and also increased the income limits under each slab thereby reducing the tax liabilities for individuals earning up to Rs. 15 Lakhs. The budget also provided an additional benefit of Rs. 52,500 to individuals earning over Rs. 15 Lakh via introduction of Standard deduction under the New Tax regime."
Budget 2023 Reactions: Kotak Mahindra Asset Management Company MD lauds 'Baahubali budget'
https://www.livemint.com | Live Mint | Feb. 2, 2023
"Today’s Union Budget has made 05 announcements under the individual tax category. Most of these announcements aimed at making the New Tax regime more attractive for middle class salaried individuals. The Budget proposed 05 Tax Slabs (as against the 06 Slabs) and also increased the income limits under each slab thereby reducing the tax liabilities for individuals earning up to Rs. 15 Lakhs. The budget also provided an additional benefit of Rs. 52,500 to individuals earning over Rs. 15 Lakh via introduction of Standard deduction under the New Tax regime."
Budget 2023 Reactions: Kotak Mahindra Asset Management Company MD lauds 'Baahubali budget'
https://www.livemint.com | Live Mint | Feb. 2, 2023
"Today’s Union Budget has made 05 announcements under the individual tax category. Most of these announcements aimed at making the New Tax regime more attractive for middle class salaried individuals. The Budget proposed 05 Tax Slabs (as against the 06 Slabs) and also increased the income limits under each slab thereby reducing the tax liabilities for individuals earning up to Rs. 15 Lakhs. The budget also provided an additional benefit of Rs. 52,500 to individuals earning over Rs. 15 Lakh via introduction of Standard deduction under the New Tax regime."
CLOSING BELL: Sensex, Nifty Tumble After Gaining Spree Post-Budget. Adani Enterprises Falls 26%
https://www.india.com | Sankunni K | Feb. 1, 2023
From an ease of doing business perspective, this looks like a dream budget clearly acknowledging that ease of compliance is a key economic lever. It signals a technology-led transition towards paperless compliance. I am particularly excited about numerous references to ease of compliance via rationalisation and digitisation in the budget speech. While I eagerly await the fine print, continued focus on decriminalization of employer compliance via the Jan Vishwas bill is expected to mitigate deeply ingrained colonial hostility against India’s entrepreneurs. There is a clear push towards building a trust based governance model. Extending the scope of Digi-Locker to include business entities is a welcome step towards digitizing compliance. The proposal to use PAN as a common identifier is another great step towards creating a unique enterprise identity. This will eliminate the need to have over 20 different enterprise identities in the current environment. A system of unified filing process is proposed to be set up obviating the need for separate submission of same information to different agencies, reducing inefficiency and duplication of effort”, Mr. Rishi Agrawal, CEO & Co-Founder, TeamLease RegTech
Budget 2023: Credit Guarantee Scheme For MSMEs Gets BIG Boost! Details Here
https://www.india.com | India.com Business Desk | Feb. 1, 2023
From an ease of doing business perspective, this looks like a dream budget clearly acknowledging that ease of compliance is a key economic lever. It signals a technology-led transition towards paperless compliance. I am particularly excited about numerous references to ease of compliance via rationalisation and digitisation in the budget speech. While I eagerly await the fine print, continued focus on decriminalization of employer compliance via the Jan Vishwas bill is expected to mitigate deeply ingrained colonial hostility against India’s entrepreneurs. There is a clear push towards building a trust based governance model. Extending the scope of Digi-Locker to include business entities is a welcome step towards digitizing compliance. The proposal to use PAN as a common identifier is another great step towards creating a unique enterprise identity. This will eliminate the need to have over 20 different enterprise identities in the current environment. A system of unified filing process is proposed to be set up obviating the need for separate submission of same information to different agencies, reducing inefficiency and duplication of effort”, commented Mr. Rishi Agrawal, CEO & Co-Founder, TeamLease RegTech
New Tax Regime: Definition, advantages and disadvantages explained
https://www.livemint.com | Saurav Mukherjee | Feb. 1, 2023
Sandeep Agrawal, Co-Founder and Director, TeamLease RegTech: Today’s Union Budget has made 05 announcements under the individual tax category. Most of these announcements aimed at making the New Tax regime more attractive for middle class salaried individuals. The Budget proposed 05 Tax Slabs (as against the 06 Slabs) and also increased the income limits under each slab thereby reducing the tax liabilities for individuals earning up to Rs. 15 Lakhs. The budget also provided an additional benefit of Rs. 52,500 to individuals earning over Rs. 15 Lakh via introduction of Standard deduction under the New Tax regime
Standard deduction, default tax regime and other Budget 2023 proposals that change your cash in hand
https://economictimes.indiatimes.com | ET Online | Feb. 1, 2023
The Budget has reduced the tax liabilities for middle class individuals with revisions to the number of tax slabs (reduced from 6 slabs to 5 slabs) & increase in the limits within each slab in the new tax regime," said Sandeep Agrawal Director & Co-founder Teamlease Regtech.
Now, an individual with an annual income up to Rs. 3 Lakh will not have to pay any tax, as against an earlier limit of Rs. 2.5 Lakhs.
Budget 2023: Income tax slabs changed under new tax regime
https://www.business-standard.com | Business Standard | Feb. 1, 2023
Sandeep Agrawal, director and co-founder of Teamlease Regtech said, "Union Budget 2023-24 has reduced the tax liabilities for middle class individuals with revisions to the number of tax slabs (reduced from 6 slabs to 5 slabs) & increase in the limits within each slab in the new tax regime. Now, an individual with an annual income up to Rs 3 Lakh will not have to pay any tax (as against an earlier limit of Rs 2.5 lakh). Further, it proposes a 5 per cent tax for Income between 03 – 06 lakh, 10 per cent for income between 06 – 09 lakh, 15 per cent for income between 09 – 12 lakh, 20 per cent for income between 12 – 15 lakh and 30 per cent above Rs 15 lakh. This will result in around 25 per cent reduction in tax liability for individuals with income up to Rs 9 lakh and around 20 per cent reduction in tax liability for individuals with income up to Rs 15 lakh."
Budget 2023: No income tax up to Rs 7 lakh under new tax regime
https://www.newindianexpress.com | Express News Service | Feb. 1, 2023
Sandeep Agrawal Director & Co-founder Teamlease Regtech said this (new tax regime) will result in around 25% reduction in tax liability for individuals with income up to Rs 9 lakh and around 20% reduction in tax liability for individuals with income up to Rs 15 lakh.
Professor Anil Sood, who did the math for The New Indian Express' shadow budget, said all the changes in Income Tax rates are for encouraging the New Tax Regime.
Salary earners have a greater relief in the form of increased standard deduction limit and leave encashment, he added.
Budget 2023 | Tax rebate limit raised to Rs 7 lakh under new regime — Check proposed slabs here
https://www.cnbctv18.com | Anshul | Feb. 1, 2023
Hailing the changes, Sandeep Agrawal Director & Co-founder at Teamlease Regtech said that this will result in around 25 percent reduction in tax liability for individuals with income up to Rs 9 lakh and around 20 percent reduction in tax liability for individuals with income up to Rs 15 lakh.
Budget 2023: New tax regime is now the default tax regime, FM Sitharaman says
https://www.businesstoday.in | Basudha Das | Feb. 1, 2023
The middle-class salaried individuals in India have been expecting a reduction in their tax liabilities. The Union Budget 2023-24 has revisited the tax slabs, which have been reduced from six slabs to five slabs, and increased the limits within each slab in the new tax regime. This will result in around 25 per cent reduction in tax liability for individuals with income up to Rs 9 lakh and around 20 per cent reduction in tax liability for individuals with income up to Rs 15 lakh," said Sandeep Agrawal Director and co-founder Teamlease Regtech.
Budget 2023: Income Tax Slabs Revised; How It Works
https://www.india.com | Snigdha Choudhury | Feb. 1, 2023
Reacting on the new income tax slabs announced by Sitharaman today, Sandeep Agrawal, Director & Co-founder Teamlease Regtech, told India.com that Union Budget 2023-24 has reduced the tax liabilities for middle class individuals with revisions to the number of tax slabs (reduced from 6 slabs to 5 slabs) and increase in the limits within each slab in the new tax regime.
Union Budget 2023-24: LIVE UPDATES from Parliament
https://www.barandbench.com | Bar & Bench | Feb. 1, 2023
From an ease of doing business perspective, this looks like a dream budget clearly acknowledging that ease of compliance is a key economic lever. It signals a technology-led transition towards paperless compliance. I am particularly excited about numerous references to ease of compliance via rationalisation and digitisation in the budget speech. While I eagerly await the fine print, continued focus on decriminalization of employer compliance via the Jan Vishwas bill is expected to mitigate deeply ingrained colonial hostility against India’s entrepreneurs. There is a clear push towards building a trust based governance model.
Budget 2023: Will small businesses’ expectations fulfilled this time; here’s key points
https://businessconnectindia.in | Anurag Tiwari | Jan. 30, 2023
Over the course of the last six years, DPIIT has recognised more than 84,000 businesses under the Start Up scheme, creating employment for more than 0.86 million individuals in India. Although the existing system has numerous advantages, entrepreneurs still have to deal with a number of real-world problems. Union Budget 2023 should take into consideration increasing the “Tax Exemption” period from 3 years to 5 years without limiting the number of years within which a start-up can enjoy or claim the exemption.
According to Sandeep Agrawal, director and co-founder of Teamlease Regtech, start-ups are now unable to take use of this benefit, as evidenced by the fact that only 993+ enterprises out of more than 84,000 businesses have done so.
Budget 2023 Expectations Highlights: Tamil Nadu textile industry seeks export incentives in wake of Ukraine crisis, Europe slowdown
https://economictimes.indiatimes.com | Economic Times Live Blog | Jan. 24, 2023
Union Budget 2023 shall aim at policies and reforms which can significantly boost domestic demand and consumption. There are many ways to achieve this objective but considering constantly increasing urban salaried jobs, one of the important steps which the current Government shall pursue is revisions to the tax slabs for individual taxpayers. I believe that the current Government will consider implementing the Direct Tax Codes and significantly enhance the tax slabs for Individuals (10% up to INR 10 Lakhs, 20% up to INR 20 Lakhs and 30% in excess of INR 20 Lakhs). These slabs will significantly reduce the tax liabilities for Individuals and will lead to increase in in-hand surplus and spending power of consumers which in turn will result in increased demand and higher economic growth
Tectonic Shift In The Fintech Sector After RBIs Recent Digital Lending Guidelines
https://www.cioandleader.com | Rishi Agrawal | Jan. 20, 2023
The Indian Fintech sector is leading the global Fintech revolution accounting for over 40% of the world’s digital transactions. It has emerged as a disruptive sunrise industry that is set to make financial services accessible, simple, and cost-effective. The industry clocked more than 74 billion transactions in 2022. This technology-led innovation is making banking and credit services available to the underbanked and unbanked. Recently, the country has seen a proliferation of fintech start-ups offering a suite of financial services digitally. These start-ups typically collaborate with a Regulated Entity (conventional financial institutions) and offer similar services via digital technologies. However, they fell outside the purview of RBI regulations leading to instances of mis-selling, breaches of privacy, unfair business practices, exorbitant interest rates, and unethical recovery practices.
Startup India Action Plan 2O16: the Hits And Misses
https://www.entrepreneur.com | S Shanthi | Jan. 20, 2023
Self-Certification based Compliance Regime is aimed at reducing the compliance burden of startups. Entrepreneurs are often unaware of the regulatory obligations of their new businesses. This can result in these enterprises being subjected to intrusive actions by regulatory agencies. Self-certification simplifies the compliance process and makes it flexible and friendly. Startups can self-certify for their compliance obligations under the 9 labor and 3 environment laws for 3 to 5 years," Rishi Agrawal, CEO and co-founder, TeamLease RegTech.
Budget 2023 : Indian shadow lenders call for rescue route from cumbersome compliance maze
https://economictimes.indiatimes.com | ET Online | Jan. 19, 2023
Union Budget 2023: Most NBFCs believe they don’t have the required visibility and control in their organization's compliance program, according to report from TeamLease Regtech. The compliance challenge also abates NBFCs expansion process. The ad-hoc, paper-based, and people-dependent processes fail to scale due to these compliance codes. India's upcoming Budget thus has a task in hand to ease the cumbersome compliance burden.
92% NBFCs Missed At Least One Critical Compliance In 12 Months: Survey
https://www.businessworld.in | Business World | Jan. 19, 2023
Rishi Agrawal, CEO, Co-founder, TeamLease Regtech said, “The NBFC sector is one of the key drivers of growth in the Indian economy. It serves a section of society that is not usually catered to by commercial banks. The report delves into the regulatory ecosystem of NBFCs to give readers an insight into the complexity of the compliance landscape.
Agrawal added that it points out the challenges and inefficiencies in the present compliance processes adopted by these financial institutions. It also proposes recommendations that will allow these companies effectively manage their compliance obligations with the help of digital processes.”
NBFC's have performed well in providing loans to unbank and underbanked sections TeamLease RegTech Report
https://startup.outlookindia.com | Outlook Startup Desk | Jan. 19, 2023
According to the report, more than 9000 registered NBFCs in India provide credit services to the underserved sections of the economy. These institutions have performed well in deepening credit to the underbanked and the unbanked sections of society. The report also highlights that compliance management remains a massive challenge due to the lack of an accurate and updated list of applicable compliance. It cites that 94 per cent of the compliance officers at NBFCs believe they don’t have the required visibility and control in their organization's compliance program.
NBFCs struggle to manage compliance obligations. Here's a guideline to get rid of it
https://www.livemint.com | Saurav Mukherjee | Jan. 18, 2023
Commenting on the report – simplifying compliance management for NBFCs in India, CEO and co-founder of TeamLease Regtech Rishi Agrawal said, "The NBFC sector is one of the key drivers of growth in the Indian economy. It serves a section of society that is not usually catered to by commercial banks. The report delves into the regulatory ecosystem of NBFCs to give readers an insight into the complexity of the compliance landscape."
After China+1, global corporations now mull over ‘Minus China’
https://economictimes.indiatimes.com | Shariq Khan | Jan. 18, 2023
Global manufacturers are considering plans to completely withdraw from China as issues related to Covid, labour and geopolitical tensions make the “world’s factory” less and less attractive. If India can quickly grab the opportunity, it can position itself as the next factory of the world.
Industry leaders celebrate National Startup Day: Here’s what they said
https://timesofindia.indiatimes.com | Times of India | Jan. 17, 2023
In 2022, Prime Minister Narendra Modi announced that January 16th would be celebrated as National Startup Day to promote the startup culture at the grassroots level. India is known as a hub for startups, and government initiatives like this one help to further encourage innovation across various sectors. To celebrate National Startup Day and the Indian startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), within the Ministry of Commerce and Industry, is organizing the Startup India Innovation Week. The initiative will bring together successful entrepreneurs to collaborate, innovate, and excel. Here are some views from startup founders on this special day.
Industry leaders celebrate National Startup Day: Here’s what they said
https://timesofindia.indiatimes.com | Times of India | Jan. 17, 2023
In 2022, Prime Minister Narendra Modi announced that January 16th would be celebrated as National Startup Day to promote the startup culture at the grassroots level. India is known as a hub for startups, and government initiatives like this one help to further encourage innovation across various sectors. To celebrate National Startup Day and the Indian startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), within the Ministry of Commerce and Industry, is organizing the Startup India Innovation Week. The initiative will bring together successful entrepreneurs to collaborate, innovate, and excel. Here are some views from startup founders on this special day.
Industry leaders celebrate ‘National Startup Day’ today | Top quotes
https://www.livemint.com | Alka Jain, Sourav Mukherjee | Jan. 17, 2023
The Indian startup ecosystem ranks 3rd globally and has seen tremendous growth in the past decade. We now have more than 77,000 registered startups with over 100 unicorns. Looking beyond these numbers we find an intricate and dynamic web of laws and compliances that have to be complied with by these enterprises. A total of 1,536 acts and 69,233 compliance requirements govern doing business in India.
Ending factory tyranny
https://www.financialexpress.com | Manish Sabharwal & Rishi Agrawal | Jan. 16, 2023
The divergent regulatory regime for manufacturing and services is a wonder- ful natural experiment that shows how good intentions can create painful and unintended consequences. Manufactur- ing only employs 11% of our labour force, the same as post-industrial America.The Factories Act of 1948 is a Central Act that combines with State Factory Rules to cre- ate excessive regulatory cholesterol for factories like Tata Motors, while TCS com- plies under the Shops and Establish- ments Act. The best way to understand the divergence between a software employer with 10,000 employees and a factory with 100 employees in Maha- rashtra is to dive into specifics.
Friend, the idea is good in the mind, but how to start...' Do you also have this problem? Learn startup tips from experts
https://navbharattimes.indiatimes.com | Rajesh Bharti | Jan. 15, 2023
Learn the steps to turn your idea into a successful startup in this blog post from Navbharat Times. Discover the key elements of idea validation, market research, and business planning to turn your vision into a reality. Whether you're a budding entrepreneur or simply curious about the startup process, this article offers valuable insights and practical tips for turning your idea into a thriving business.
You won't get a refund for professional tax paid at this income level
https://economictimes.indiatimes.com | Neelanjit Das | Jan. 3, 2023
Professional tax is a tax levied by the state government and the income tax act allows an deduction of professional tax actually paid from gross total income of the individual. Unlike TDS professional tax is not refunded if the individual's net income tax liability is less than the tax amount or nil.
Disrupting the startup ecosystem, these startups were at peak of their game in 2022
http://businessnewsthisweek.com | Mansi Praharaj | Dec. 30, 2022
Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards a paper-less, cash-less, and presence-less compliance.
Disrupting the startup ecosystem, these startups were at peak of their game in 2022
https://www.cxotoday.com | Narasimha Raju | Dec. 30, 2022
TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on web and mobile platforms with smart analytics to help corporate India comply.
Read more at: https://www.cxotoday.com/specials/disrupting-the-startup-ecosystem-these-startups-were-at-peak-of-their-game-in-2022/
Disrupting the startup ecosystem, these startups were at peak of their game in 2022
https://fyi9.com | Prateek Harshwal | Dec. 29, 2022
Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’ employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control.
Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards a paper-less, cash-less and presence-less compliance.
By 2026, India’s digital economy is expected to be worth $1 trillion. Data protection bill paving the way?
https://timesofindia.indiatimes.com/ | Rishi Agrawal | Dec. 29, 2022
We’ve seen our country’s consumer digital economy go through a 370% YoY growth in PE/VC (Private Equity/ Venture Capital) investments last year. The FoodTech market is expected to reach $1,515 billion by 2026 with a growth rate of 30% CAGR. It will be closely followed by the growing online grocery market which shows a potential of $1,311 billion in the same timeframe. This will fuel the digital payment sector and see it cross $1 trillion in transaction volume. It is forecasted that 44% of the payments will be through payment gateways and aggregators, 34% through QR codes, and 22% through POS (Point of Sale) machines.
Top 5 Compliance Challenges for Automobile Companies
https://www.financialexpress.com | Rishi Agrawal | Dec. 26, 2022
Post the pandemic downturn, the automobile industry has experienced a noticeable surge in industry consumption. It is further anticipated to show substantial positive growth over the next few years. While the robust interest rates continue to uphold investment optimism within the automobile sector, certain key challenges remain intact.
75-year-old laws impeding ease of doing business in India: Expert
https://thefederal.com | The Federal | Dec. 24, 2022
The interview titled The core of our regulations was framed during colonial times
In the story Mr. Rishi Agrawal CEO and Co-founder Teamlease Regtech is interviewed by Mr. K Giriprakash Business Editor, The Federal
Significance of Technology Infrastructure in optimizing Compliance Processes
https://www.expresscomputer.in | Sandeep Agrawal | Dec. 19, 2022
Technology is transforming the way we manage our day-to-day routines including our health, education, etc., and has also redefined the way businesses are managed today. In the last 5 decades, technological innovations for businesses can be classified into three phases.
Sandeep Agrawal
1. Enterprise Applications; Introduced in the 1980s, these solutions were designed for specific business functions with limited applications. For Ex; Tally helped businesses shift from paper-based accounting (Bahi-Khata).
2. Business Process Management Suite; Introduced in the 2000s by Gartner, is referred to as enterprise solutions to automate repetitive activities and offer analytical capabilities.
3. Digital Process Automation; These solutions combine human elements with different software applications whilst using technologies like AI, ML & RPA. For example; Bank Account opening through a Mobile App with minimal manual engagement is a classic example.
Missed Advance Tax Payment On December 15? Now, Pay 1% Monthly Interest
https://www.outlookindia.com | Neelanjit Das | Dec. 17, 2022
According to Sandeep Agrawal, director and co-founder, Teamlease Regtech, a Maharashtra based compliance management software company, "I believe that the existing income tax system is not falling short but for sure the same can be further strengthened. The Regulator can consider strategy adopted by GST department in terms of the constant reminders / escalations to the assessee via emails and messages. This practice at least reminds the people for timely compliances. Although, all the Individuals / businesses are not required to pay advance Tax, still sending reminder emails / messages to everyone, provide a proactive intimation to the relevant assessee for the compliance requirement."
Start-up compliance load
https://www.telegraphindia.com | Sandeep Agrawal | Dec. 12, 2022
Compliance and regulatory requirements still remain a major challenge for start-up companies in India even as their numbers are on the rise.
Sandeep Agrawal, director, and co-founder of Teamlease Regtech, while highlighting some of the challenges said that there is still scope to refine the compliance requirements for the early-stage companies and improve the ease of doing business.
Debates, deficits & 4.88 crore pending court cases
https://www.newindianexpress.com | By Shankkar Aiyar | Dec. 11, 2022
The rise in the number of cases also signals the need to clean up the legislative and regulatory landscape Rishi Agarwal of Avantis Regtech who tracks regulatory compliances points out that businesses are required to comply with 1,536 laws, 69,233 compliances and 6618 filings. There are 843 laws at the Centre and the States with over 26000 compliances which carry the threat of imprisonment. Juxtapose this on the multiplicity of ministries in any one domain – water for instance is governed by six ministries, health care by multiple ministries in the state and in the union government.
Top five businesses supporting the government’s aim of “Digital India”
https://www.cxotoday.com | CXO Today | Dec. 8, 2022
TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on the web and mobile platforms with smart analytics to help corporate India comply. Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’s employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control. Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards paperless, cash-less, and presence-less compliance.
Top five businesses supporting the government’s aim of “Digital India
https://newspatrolling.com | Mahender | Dec. 6, 2022
Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’s employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control.
Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards paperless, cash-less, and presence-less compliance.
Top five businesses supporting the government’s aim of “Digital India
https://www.apnnews.com | Apn News | Dec. 6, 2022
Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’s employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control.
Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards paperless, cash-less, and presence-less compliance.
Top five businesses supporting the government’s aim of “Digital India
https://www.gadget-innovations.com | TECHNOVATION360 | Dec. 6, 2022
TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on the web and mobile platforms with smart analytics to help corporate India comply.
Decriminalisation of GST Act: Why it can be a big reprieve for small businesses in India
https://economictimes.indiatimes.com | Sandeep Agrawal | Dec. 5, 2022
The introduction of Goods and Services Tax (GST) was a bold step towards digital transformation of tax administration. GST introduced the concept of uniform tax on supply of goods and services and subsumed over 17 large taxes and 13 cess. The new system was framed to be much more transparent in nature, easy to monitor, administer, simplified the registration processes, and significantly reduce the compliance filing requirements.
Reducing the compliance burden
https://timesofindia.indiatimes.com | Times of India | Dec. 4, 2022
Over the past few years, India has made immense growth and progress in ease of doing business. And with the Government of India taking an initiative towards uniting the nation under its "Digital India" programme, India Inc has undoubtedly made progress toward using technology to tell a compelling tale. Businesses across sectors have started to understand that the cost of poor compliance is simply too high and hence effective compliance management has become a business imperative. Sandeep Agrawal, co founder and director of Team Lease RegTech, explains how TeamLease RegTech is helping India Inc. with compliance management.
Can effective risk management by corporates prevent litigation?
https://www.financialexpress.com | Sandeep Agrawal | Dec. 4, 2022
India is amongst the several emerging economies witnessing an economic revolution with continuous improvements in GDP growth, industrial productivity, per capita income supported by a large skilled workforce, policy reforms, and global investments. These growth opportunities bring along many threats which require detailed assessment and mitigation plans. Hence the ‘Vision’ for business transformation goes hand in hand with “Caution”.
From GST introduction to potential decriminalization: How does it impact businesses
https://www.financialexpress.com | Sandeep Agrawal | Dec. 3, 2022
Before the introduction of GST, indirect taxes were divided into several categories, including multiple central taxes like Central Excise, Service tax, Central Sales Tax, etc., and state-specific taxes like VAT, Entry Taxes, etc. While creating a complex regulatory framework, it also resulted in hefty penalties and dire consequences in cases of non-compliance. For instance, the non compliance with the Central Excise Act led to severe penal provisions, which include monetary and criminal provisos like imprisonment for three to seven years. Simultaneously, the regulators could bring criminal charges if the quantity of goods possessed by a business under schedule II i.e., tobacco, pan masala, rubber tires, etc., exceeds the prescribed limit. Evading tax liability or taking false credit of duty by the assesse were some of the other situations, which could lead to harsh penal provisions. Since a lot of compliances were interconnected, it made compliance obligations complex for businesses.
Budget 2023 must factor in geoeconomic infiltrations
https://www.orfonline.org | GAUTAM CHIKERMANE | Dec. 1, 2022
As Rishi Agrawal argues, every business should be given a unique enterprise number that will serve as its identity for all—repeat, all the 69,233—compliances, of which 26,134 carry imprisonment clauses. This number should be accepted by and applicable to all laws, rules and regulations at the Union level or in states. Such a system of doing business will increase the velocity and efficiency of G2C (government to company) communications, be it around setting up a plant, getting a bar licence or paying taxes—one number, one company, one nation.
Ease of Doing Business: Teamlease Regtech empowering corporates to be on the right side of the law
https://www.cxotoday.com | CXO Today News Desk | Dec. 1, 2022
Recently, FICCI launched its RegTech initiative to push for Cashless, Presenceless, and Paperless SEBI compliances. The initiative was launched by Ms. Madhabi Puri Buch, Chairman, SEBI in September of this year. In addition, the rationalization of compliance and regulatory requirements has been on the Government agenda as India is rushing towards the $5 trillion GDP milestone.
Top 5 companies reducing the compliance burden
https://newspatrolling.com | Mahendar | Nov. 28, 2022
In India, the government is focusing on reducing the compliance burden on businesses and citizens has the potential to become the new driver of economic growth. Reduced compliance burden will especially help small firms that account for over 95 percent of Indian businesses.
The Make-in-India initiative is a strong component of raising growth and is focused on making India a global manufacturing hub. However, setting up a manufacturing facility in India is heavily front-loaded with getting permissions, licenses, registrations, and consent orders.
Rethinking compliance management: Why is it needed?
https://timesofindia.indiatimes.com | Rishi Agrawal | Nov. 28, 2022
With such a vast, dynamic and hostile compliance environment facing corporate India, effective compliance management has become a business imperative. If entrepreneurs and business leaders wish to stay on the right side of the law, compliance must be prioritised as an essential function. Even minor non-compliance can attract hefty financial and criminal penalties, besides causing revenue leakages and reputational loss. Businesses cannot afford to wait around for favourable policies to come into effect and must instead take matters into their hands. This necessitates a thorough rethinking of compliance management at an organisational level.
Top 5 companies reducing the compliance burden
https://www.cxotoday.com | CXO Today News Desk | Nov. 28, 2022
In India, the government is focusing on reducing the compliance burden on businesses and citizens has the potential to become the new driver of economic growth. Reduced compliance burden will especially help small firms that account for over 95 percent of Indian businesses. The Make-in-India initiative is a strong component of raising growth and is focused on making India a global manufacturing hub. However, setting up a manufacturing facility in India is heavily front-loaded with getting permissions, licenses, registrations, and consent orders. Reducing the compliance burden through simplification, rationalisation, and digitisation is the key to growth. Here are the five companies working towards reducing the compliance burden :
Regulatory maze for EVs
https://www.financialexpress.com | Financial express | Nov. 25, 2022
The number is projected to reach 50 million units by 2030. As the ecosystem matures, there are serious compliance implications.
Criminal provisions of Factories Act keep MSMEs wary
https://economictimes.indiatimes.com | Pavan Burugula and Neha Chaliwala | Nov. 15, 2022
Failing to display a gist of maternity law or failing to ‘limewash’ the washrooms on a timely basis can land factory managements in jail upto three years. Also, failure to constitute canteen management committee or not maintain spittoons carries 3-month sentence each.
Biz Laws: Time To Spare The Rod
https://www.fortuneindia.com | Joe Mathew | Nov. 9, 2022
The authors of the ORF report have given 10 recommendations that go much beyond restraint in use of criminal penalties in business laws. It wants to reform the way policies are designed and wants a regulatory impact assessment committee within the Law Commission of India. The report calls for involvement of independent economic regulators in compliance reforms, end to criminalisation of compliance procedures and creation of alternative mechanisms and frameworks. It has also suggested defining of standards for legal drafting and introduction of sunset clauses. One suggestion — to introduce all reforms through a single legislation — sounds similar to what DPIIT is attempting. A new legislation will not be the end of reforms. It will be part of a process that should continue. But it will be a big step forward.
Digital Ledger: How Companies Can Lay Groundwork For Better Blockchain Compliance
https://news.abplive.com | Rishi Agrawal | Nov. 2, 2022
What was once just a buzzword, used to define the workings of cryptocurrencies, has now taken a central stage. At the core of it, blockchain is a decentralised virtual ledger with the ability to record and verify digital transactions. The decentralised nature of blockchain ensures that the data stored cannot be tampered with as every node has a copy of the virtual ledger. To change an entry on the blockchain one has to alter all the subsequent transactions on all the nodes. This eliminates the need for verification and reconciliation of data.
How technology is transforming compliance in India
https://timesofindia.indiatimes.com | Rishi Agrawal | Nov. 1, 2022
Technology is transforming the world of Compliance. The proliferation and mass adoption of digital payments has laid the foundation for a cashless economy. A faceless assessment scheme is already implemented under the Income Tax Act, 1961, paving the way for adopting a similar approach in all other areas of employer compliance. The emergence of technologies such as blockchain is creating the required plumbing for a trustless ecosystem that assures the authenticity and integrity of the data. India’s digital economy is expected to become a trillion dollars soon, creating huge market opportunities in new economy sunrise industries such as gaming, crypto, and metaverse among others. Regulating and monitoring them will need new-age technology-based systems. It is time that the country reimagines its employer compliance with technology platforms to become a $10-trillion economy within the decade
Decoding Compliance Management in the pharma sector
https://issuu.com | Rishi Agrawal | Oct. 31, 2022
TeamLease RegTech re cently launched a first-of-its kind report "Simplifying Compliance Management for Pharmaceutical Companies" on the state of regulatory compliance in the pharma sector. It details the numer ous challenges encountered. by the industry and proposes actionable recommendations for reducing the compliance. obligations of pharma compa nies. It also supplements its findings with crucial industry insights, providing a unique insider perspective into the reforms needed for enabling ease of doing business in this pivotal sector.
Auto companies find compliance burden heavy: survey
https://economictimes.indiatimes.com | Nehal Chaliawala | Oct. 31, 2022
A manufacturing company in the automotive industry must deal with 489 central, state and local-level compliances, the report noted. These fall under the labour, EHS (environment, health & safety), corporate law, commercial law and finance and taxation law categories. In addition to this, there are industry-specific compliances for automakers.
Key management personnel of Indian auto firms have poor understanding of compliance obligations
https://www.deccanherald.com | PTI New Delhi | Oct. 30, 2022
In the report 'Simplifying compliance management for automobile industry', TeamLease RegTech, a regulatory technology solutions firm, said with applicability of compliances changing based on location of manufacturing units, use of specific equipment .
Key Indian auto executives don't understand compliance obligations: Report
https://www.business-standard.com | Press trust of India : New Delhi | Oct. 30, 2022
Key management personnel in Indian automobile companies have a poor understanding of compliance obligations that can range from several hundred acts to thousands of rules depending on the size of the business, according to a report by TeamLease Regtech.
Dynamic landscape. Compliance with regulation: Staying ahead is key
https://www.thehindubusinessline.com | Rishi Agrawal | Oct. 30, 2022
The Indian aviation sector is the seventh-largest market in the world. Its domestic air traffic accounts for 69 per cent of the total air traffic in South Asia. While these numbers might make one proud, what goes behind running such operations is, to put mildly, mind-boggling. Hundreds of rules and regulations need to be followed and there are about 400 changes notified every year, which needs to complied with and those who don’t are penalised heavily. So, let us dive into how tough this maze is to untangle.
How can Indians invest in the US stock market?
https://www.financialexpress.com | Rishi Agrawal | Oct. 19, 2022
For many investors, the US stock market has emerged as a preferred destination. The reasons are multifold. The US has the world’s strongest capital market, with a market capitalization of over US$48 trillion and more than 6,000 listed companies.
The challenge of keeping up with the regulators
https://ibsintelligence.com/ | Puja Sharma | Oct. 18, 2022
It has been fashionable in past years for any company to claim that it is doing compliance digitally. However, managing compliance is not easy. It requires time. It requires resources. It requires the expertise and knowledge of complex and changing legislation. Rishi Agrawal, CEO and Co-Founder of Teamlease Regtech warns that most companies simply don’t have the in-house capabilities to deal with this complexity.
A three-point guide for India on how to catch China's 'migrants'
https://economictimes.indiatimes.com | Manish Sabharwal & Rishi Agrawal | Oct. 12, 2022
India must choose the future generation over the old , loud and urban ( largely masculine ) workforce who have formal jobs and suggest job preservation is a form of job creation . Their self - interest is hardly national interest . Attracting China's ' factory migrants ' will create opportunities for labour market outsiders - rural youth , women , unskilled , farmers and the self - employed.
Life after an IPO: Unpacking the compliance obligations of a public company
https://timesofindia.indiatimes.com | | Oct. 9, 2022
In a public listed company, the compliance obligations spill over from a close group of senior executives to several thousand connected people, making compliance an onerous job. Strong internal processes and technology systems including Structured Digital Databases (SDDs) are key to managing high standards of corporate governance.
RBI Liberalised Remittance Scheme: How Indians can use LRS to invest, remit money abroad
https://economictimes.indiatimes.com | Rishi Agrawal | Sept. 22, 2022
With more porous geographical borders and an integrated global economy, the frequency of foreign transactions has grown tremendously. LRS facilitates such transactions in a seamless manner while also safeguarding the country's foreign exchange against instability. Residents and entrepreneurs alike should familiarise themselves with the nuances of LRS to have a hassle-free remittance experience and optimise their foreign exchange dealings.
5 RegTech organizations to watch out for
https://www.cxotoday.com | CXOtoday News Desk | Sept. 20, 2022
TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on web and mobile platforms with smart analytics to help corporate India comply.
SEBI chief unveils FICCI drive to strengthen compliance
https://www.thehindu.com | The Hindu | Sept. 15, 2022
SEBI Chairperson Madhabi Puri Buch has unveiled Federation of Indian Chambers of Commerce & Industry’s (FICCI) initiative to strengthen compliance with a tech-based solution supported by TeamLease Regtech, a regulatory technology (Regtech) solutions company.
What the New Labour Codes mean for employees?
https://www.financialexpress.com | Rishi Agrawal | Sept. 15, 2022
The colonial-era labour laws designed to address the socio-economic exigencies of the time have outlived their welcome in the new era of development.
SEBI chairperson says every single policy it brings out is data-backed
https://theprint.in | ANI | Sept. 14, 2022
The SEBI chairperson launched FICCI’s ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of all SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.
SEBI chairperson says every single policy it brings out is data-backed
https://aninews.in | ANI | Sept. 14, 2022
At the conference, the SEBI chairperson launched FICCI's ‘RegTech’ initiative in
partnership with TeamLease RegTech to facilitate end-to-end automation of all
SEBI compliances. This will digitize compliance for companies to stay on the
right side of the law.
Trust transparency disclosure key imperatives for capital markets sebi chairperson
http://www.uniindia.com | Business Economy | Sept. 13, 2022
SEBI Chairperson launched FICCI's 'RegTech' initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.
Trust, Transparency & Disclosure Key Imperatives For Capital Markets: SEBI Chairperson
https://tennews.in/ | Ten News Network | Sept. 13, 2022
SEBI Chairperson also launched FICCI’s ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.
Trust, transparency & disclosure key imperatives for capital markets: SEBI Chairperson
https://www.equitybulls.com | Equity Bulls | Sept. 13, 2022
SEBI Chairperson launched FICCI's 'RegTech' initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.
SEBI Chairman says every single policy brought by him is data backed
https://news.bharattimes.co.in | ANI News Service | Sept. 13, 2022
At the conference, the Chairman, SEBI launched FICCI’s ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of all SEBI compliances. It will digitize compliance for companies to stay on the right side of the law.
Overregulation bred economic dwarfs who choose to fly under regulatory radar even if it restricts access to capital, talent
https://www.financialexpress.com | Rishi Agrawal | Sept. 3, 2022
Ease of Doing Business for MSMEs: For formal MSMEs and startups, the regulatory complexity lies not only in the number of compliance but also in the ongoing nature of compliances.
Bolstering cyber security in Indian digital economy
https://timesofindia.indiatimes.com | Rishi Agrawal | Aug. 28, 2022
The world is ever changing but technology is here to stay for the long haul. The penetration of digital services and tech processes has increased exponentially over the years while the understanding of cyber-related issues has remained limited. This has created deep vulnerabilities for both businesses and consumers. In this context, the new cybersecurity norms are a step in the right direction. They will provide impetus to robust digital infrastructure for ensuring cybersecurity awareness and preparedness. At the same time, they will protect the edifice of 21st-century businesses from collapsing at the mercy of malicious cyberattacks.
Accelerating growth in the Indian insurance sector: The EoDB approach
https://timesofindia.indiatimes.com | Rishi Agrawal | Aug. 21, 2022
The IRDAI has introduced two key regulatory reforms in the insurance sector. First, it has extended the ‘use and file’ procedure for all health products and almost all general insurance products.
Second, it has rationalised the compliance requirements for all Foreign Reinsurance Branches (FRBs).
Busting the Myths on CSR Regime in India
https://indiacsr.in | INDIA CSR | Aug. 10, 2022
With the government pushing for greater CSR monitoring and enforcement, an increased onus now lies on corporate India to play its part in the developmental progress of the country.
How to check if your employer has deposited your EPF contribution into the account
https://economictimes.indiatimes.com/ | Preeti Motiani | Aug. 4, 2022
Rishi Agrawal, Founder & CEO, TeamLease RegTech says "An employer is required to deposit the EPF contribution within 15 days of the month ending for which salary has been paid. For instance, for the month of July 2022, the employer is required to deposit both employer and employee EPF contribution by August 15, 2022 to an employee's EPF account."
Govt steps up ease of doing business, this many compliances simplified, decriminalized in India
Financial Express | MSME Desk | July 20, 2022
Ease of Doing Business for MSMEs: “Government of India, along with states and UTs has been working to reduce the compliance burden on businesses. The objective of the exercise is to improve ease of doing business by simplifying, rationalizing, digitizing and decriminalizing government-to-business interfaces,” said MoS Commerce Som Parkash.
NMC norms on foreign medical graduates to practice in India a transformation move: Rishi Agrawal
Pharma Biz | Nandita Vijay | July 9, 2022
As a leading Regulatory Technology (RegTech) solutions company, the company is of the view that students who pursue MBBS abroad will now have to ensure that their degree is up to 54 months and have to spend an extra year completing their internship before being allowed to practice in India.
Laws governing business must lose criminalising provisions
The Financial Express | Rishi Agrawal | July 1, 2022
A recent study highlights that the use of imprisonment as a tool of control over entrepreneurs has deepened since Independence. Even after three decades of economic reforms, entrepreneurs are still viewed through the lens of criminality.
TeamLease RegTech report shows 97% of pharma non complaint with 49% imprisonment clauses for contraventions
Pharmabiz | | May 24, 2022
TeamLease RegTech, a leading regulatory technology solutions company from TeamLease Services, in its ‘Simplifying Compliance Management for Pharmaceutical Companies’, shows that 97% of the industry lack the required visibility and control over their compliance programme. The report also points out that 90% of the companies missed at least one critical compliance during the previous year, while 95% incurred fines and penalties for non-compliance.
India’s digital economy needs timely regulatory engagement
Times of India | Rishi Agrawal | May 20, 2022
Delayed regulatory intervention is hurting India’s aspiration to become a trillion dollar digital economy. There is a pressing need for the government to keep up with the emerging exponential technologies. A key reason for the delay can be attributed to the lack of expertise within the government. It is recommended that the government build and nurture capacity within itself to constantly scan breakthrough technological innovations and their implications on emerging digital business models.
Jailed For Doing Business
The Cārvāka Podcast | Gautam Chikermane and Rishi Agrawal | April 29, 2022
In this podcast, Gautam Chikermane and Rishi Agrawal talk to Kushal about their new monograph published by the Observer Research Foundation. This podcast covers some of the topics of the monograph which looks into the imprisonment clauses that plague India’s business compliance regulations framework.
We need freedom from the grip of regulations and compliances
Live Mint | Makarand R. Paranjape | April 25, 2022
In Jailed for Doing Business (bit.ly/3vFWUWX), a recent report released by Observer Research Foundation (ORF), co-authored by Gautam Chikermane, vice-president, ORF, and Rishi Agrawal, co-founder and CEO at Avantis RegTech, a shocking 69,233 unique compliances have been listed, of which 26,134 clauses have imprisonment as penalty for non-compliance. Of the most compliance insistent states, five have the highest number of imprisonment clauses—Gujarat (1,469), Punjab (1,273), Maharashtra (1,210), Karnataka (1,175) and Tamil Nadu (1,043). What is utterly frustrating and dismaying is that despite such a stringent compliance regime, with so many rules, regulations and draconian clauses, the real crooks repeatedly seem to evade the inordinately long arm of the law.
How changes in EPF rules may affect you?
Business Standard | Bindisha Sarang | April 13, 2022
Prashant Singh, vice-president and business head-compliance and payroll operations, TeamLease Services, says that TDS will be applicable in case of Provident Fund (PF) final settlement, transfer claims, transfer from exempted establishments to the EPFO, and vice versa. It will also apply in case of transfer from one trust to another, and in case of death. This rule will also apply to international workers.
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TDS will not apply to EPF balance till FY21: Heres what experts suggest
Knowledia | Bindisha Sarang | April 13, 2022
Prashant Singh, vice-president and business head-compliance and payroll operations, TeamLease Services, says that TDS will be applicable in case of Provident Fund (PF) final settlement, transfer claims, transfer from exempted establishments to the EPFO, and vice versa. It will also apply in case of transfer from one trust to another, and in case of death. This rule will also apply to international workers.
Ease of doing business 2.0: Ask the right questions
Live Mint | Pradeep S. Mehta | March 22, 2022
In her budget speech, Finance Minister Nirmala Sitharaman expressed the government’s resolve to launch Ease of Doing Business 2.0 and Ease of Living programmes. To this end, she highlighted that in recent years, over 25,000 compliance requirements were reduced and 1,486 Union laws repealed. What was the nature of these compliances and laws?
Jailed for doing business: ORF report on the risks of compliances faced by Indian Entrepreneurs
Editorji | GAUTAM CHIKERMANE, RISHI AGRAWAL | March 17, 2022
The report of Observer Research Foundation (ORF) distils the risks of imprisonment faced by Indian entrepreneurs. Using newly isolated data on 26,134 imprisonment clauses embedded in laws enacted by the union and state governments, it provides the risks faced by entrepreneurs and corporations in doing business in the country. In this video, the authors of the report, Gautam Chikermane, Vice President, ORF, and Rishi Agrawal, CEO of TeamLease RegTech, are in conversation with BOOM's Govindraj Ethiraj. They discuss and scrutinize age-old compliances in India's business laws and suggest policy recommendations to lawmakers.
Unnecessary and redundant penalties should be taken out of the law books
Economic Times | ET CONTRIBUTORS | March 16, 2022
The word 'draconian' comes from the Athenian lawgiver Draco who gave civilisation an important milestone - written laws. Before this, it was ad-hocracy. Even though an improvement, the laws were extremely harsh, with the death penalty being commonplace.
Superfluous Compliance Load
Herald Goa | SHIVANAND PANDIT | March 16, 2022
For years every government has been attempting at lessening rules and regulations around doing business in India. According to the latest research report by TeamLease RegTech, in correlation with the Observer Research Foundation (ORF), among the 69,233 exclusive compliances that govern doing business in India, there are 26,134 imprisonment clauses as punishments or fines for non-compliance with business laws legislated since independence. Nearly 38 per cent of compliances can send a businessperson to jail.
Need To Decriminalise India's Business Laws: ORF Report
BoomLive | Govindraj Ethiraj | March 4, 2022
The report, which has been authored by Cheikermane, Vice President of the Observer Research Foundation and Agarwal, co-founder and CEO of TeamLease RegTech, argues for a rewriting of India's business laws which haven't been updated for the 21st century.
Need To Decriminalise India's Business Laws: ORF Report
The Outreach | Manish Sabharwal & Rishi Agrawal | March 3, 2022
A new report titled Jailed For Doing Business dissects the criminality in India’s business laws. The report suggests that among the universe of 1,536 legislations, 54% (843) have clauses of imprisonment. Of these, 29% are at the union and 71% at the state levels. In the 26,134 compliances, two out of every five items have imprisonment clauses going up to 10 years. A jail time of up to 3 years can be meted out under 86% of the clauses.
How to transfer EPF account from EPFO to employer’s EPF trust and vice versa
Economic Times | Preeti Motiani | March 3, 2022
Prashant Singh, Vice President and Business-Head- Compliance and payroll outsourcing, TeamLease Services say, "As per the EPFO rules, an individual can easily transfer his EPF account held with old employer to new employer irrespective whether the previous or new account was/is held with trust or EPFO."
How To Unleash Creation Of Well-Paid Jobs In India
Bloombergquint | Manish Sabharwal & Rishi Agrawal | March 3, 2022
A new report titled Jailed For Doing Business dissects the criminality in India’s business laws. The report suggests that among the universe of 1,536 legislations, 54% (843) have clauses of imprisonment. Of these, 29% are at the union and 71% at the state levels. In the 26,134 compliances, two out of every five items have imprisonment clauses going up to 10 years. A jail time of up to 3 years can be meted out under 86% of the clauses.
How to transfer EPF account from EPFO to employer’s EPF trust and vice versa
Bangalore Mirror | ET Online | March 3, 2022
Prashant Singh, Vice President and Business-Head- Compliance and payroll outsourcing, TeamLease Services said, "An EPF member not only transfers money from an old EPF account to a new EPF account, he/she also transfers details related to Employees' Pension Scheme (EPS) account to new employer,” Singh explained.
How To Unleash Creation Of Well-Paid Jobs In India
FlipBoard | Manish Sabharwal & Rishi Agrawal | March 3, 2022
A new report titled Jailed For Doing Business dissects the criminality in India’s business laws. The report suggests that among the universe of 1,536 legislations, 54% (843) have clauses of imprisonment. Of these, 29% are at the union and 71% at the state levels. In the 26,134 compliances, two out of every five items have imprisonment clauses going up to 10 years. A jail time of up to 3 years can be meted out under 86% of the clauses.
While labour laws are half of the compliance universe they contribute over 65% of imprisonment clauses. Within these laws, the Factories Act, of 1948 is the largest contributor accounting for 31% of all the criminal clauses.
EPF account transfer from EPFO to employer’s EPF trust. All you should know
Times Now News | ET Online | March 3, 2022
Prashant Singh, Vice President and Business-Head- Compliance and payroll outsourcing, TeamLease Services said, "An EPF member not only transfers money from an old EPF account to a new EPF account, he/she also transfers details related to Employees' Pension Scheme (EPS) account to new employer,” Singh explained. He added that the money deposited by the employer (old and new) in the EPS account is deposited to the EPFO and at the time of transfer, this lies with the EPFO and pension is paid to the individual when they become eligible.
Adoptive mothers can claim equal maternity benefits, say analysts
Business Standard | Bindisha Sarang | March 3, 2022
Prashant Singh, vice-president and business head-compliance and payroll operations, TeamLease Services, says, “The Maternity Benefit Act, 1961, doesn’t offer paternity leave. If companies offer it, it’s according to their wishes. Only new mothers are entitled to benefits under the Maternity Benefit Act, 1961"
Why CA, CS firms & professionals should find a new course
https://economictimes.indiatimes.com | Manish Sabharwal & Sandeep Agrawal | Feb. 27, 2022
India's reform choices are delivering results. Its economy rose from 10th to 5th in global size rankings in the last decade. Over 50% of India's foreign direct investment (FDI) since 1947 has come in the last five years. India is at the start of an economic super-cycle. But its soft and hard infrastructure in accounting and compliance lags behind our ambitions.
India needs to take a serious look at its business laws. Here's why
The Economic Times | Gautam Chikermane | Feb. 24, 2022
In the Observer Research Foundation (ORF) report, 'Jailed for Doing Business: The 26,134 Imprisonment Clauses in India's Business Laws' (bit.ly/ 3sU0Kdm) released earlier this month, Avantis RegTech CEO Rishi Agrawal and I explore the root cause for bureaucratic rent-seeking, bribery and extortion. The report isolates imprisonment clauses that surround doing business in India, of which there are hundreds of anecdotes but no macro data.
Ease of Doing Business? Not When There are Over 26000 Ways to Put an Entrepreneur in Jail
News 18 | AS MITTAL | Feb. 23, 2022
Just imagine how difficult the task gets for an entrepreneur to survive and thrive when they are vulnerable to imprisonment. Even though the central and state governments are striving to ease out over-regulations around doing business, there are still over 26,000 clauses that can lead to imprisonment of an entrepreneur, as per a report ‘Jailed for Doing Business’, prepared by Teamlease RegTech and Observer Research Foundation (ORF). In Punjab, for instance, there are 31 Acts, 1,427 compliances and 1,273 imprisonment clauses to regulate an entrepreneur.
Don’t bank just on EPS as its pension payouts are paltry, say analysts
Creatives Writing | Naman | Feb. 22, 2022
At present, it is mandatory for employees who earn a basic salary plus dearness allowance (DA) of up to Rs 15,000 to enrol in EPS
Don’t bank just on EPS as its pension payouts are paltry, say analysts-Business Journal
BUSINESS JOURNAL | BUSINESS JOURNAL | Feb. 22, 2022
At present, it is mandatory for employees who earn a basic salary plus dearness allowance (DA) of up to Rs 15,000 to enrol in EPS
Don't bank just on EPS as its pension payouts are paltry, say analysts
Business Standard | Bindisha Sarang | Feb. 22, 2022
Prashant Singh, Business Head TeamLease Compliance has quoted “While the employee’s entire contribution goes to EPF, 8.33 per cent of the employer’s share goes to EPS.
Dont bank just on EPS as its pension payouts are paltry, say analysts
News Knowledia | Bindisha Sarang | Feb. 22, 2022
The employee and the employer each contribute 12 per cent of the employee’s basic salary and DA to EPF. Prashant Singh, vice-president and business head – compliance and payroll outsourcing, TeamLease Services, says: “While the employee’s entire contribution goes to EPF, 8.33 per cent of the employer’s share goes to EPS.”
'Jailing clauses in biz laws deter entrepreneurship'
HTDS Content Services | Gireesh Chandra Prasad | Feb. 21, 2022
While the Centre is working on promoting ease-of-doing-business, over 26,000 imprisonment clauses in Indian commercial laws are likely to throw a spanner in the works, regulatory technology firm Teamlease RegTech and Observer Research Foundation (ORF) said in a joint report.
Apple Podcasts
https://podcasts.apple.com | Michael Matias | Feb. 18, 2022
Rishi Agrawal, is the CEO and Co-Founder of TeamLease Regtech, India’s leading Regulatory SAAS company. His company helps India Inc navigate the complexity of the country’s regulatory ecosystem and stay on the right side of the law. He is envisioning Compliance 2.0, a paperless, presenceless and cashless ecosystem for digital India. Rishi works closely with Union and state governments in India to help them reimagine employer compliance. Rishi is an avid traveler and amateur photographer. He has recently published a coffee table photo book titled, Varanasi, A passage to immortality.
India’s compliances conundrum
Financial Express | FE Online | Feb. 16, 2022
The Factories Act, 1948, for instance, read with 58 rules, contain 8,682 imprisonment clauses. This is an important law as it provides core protections to workers.
India’s compliances conundrum
MSN | FE Online | Feb. 16, 2022
India’s myriad laws and the web of compliances that come with it pose a growing challenge for entrepreneurs and businesses. Sharing details on these, a just released research report by Teamlease RegTech and ORF, points to the added problem of laws armed with imprisonment as a tool to control, sometimes even for inadvertent and minor lapses. It points to 26,134 specific clauses in the country’s business legislations, rules and regulations that that impose prison terms for violations. The report says if the amendments to the Companies Act, 2013 get enacted, it could be the starting point for deeper economic reforms. India’s entrepreneurial landscape, it says, is full of laws, rules, and regulations that have raised barriers to doing business. The Factories Act, 1948, for instance, read with 58 rules, contain 8,682 imprisonment clauses. This is an important law as it provides core protections to workers.
There are more than 26,000 ways to jail a businessman in India
Economic Times | Economic Times Online | Feb. 16, 2022
An ORF report brings out 26,134 imprisonment clauses embedded in laws enacted by the Union and state governments and highlights risks faced by entrepreneurs and corporations in doing business in the country.
Decoded: The Challenges Of Doing Biz In India | India Development Debate
Times Now News | GAUTAM CHIKERMANE, RISHI AGRAWAL | Feb. 16, 2022
About 26,134 laws can put entrepreneurs and businesspersons in jail in India in case of non-compliance, finds a latest study conducted by the Observer Research Foundation (ORF). Acts like not whitewashing or colour-washing the walls, ceiling and partitions of every latrine and urinal once in four months, for instance, are among the imprisonment clauses of the Factories Act. 1948, even though they are irrelevant in the technologically advanced business environment today. Is it time to take a relook at laws prescribing jail for minor lapses? Is there enough political will to reform our regulatory framework to make it more conducive to entrepreneurship and innovation? We debate on the India Development Debate with Gautam Chikermane, Vice President, ORF and Rishi Agrawal, Co-Founder and Chief Executive Officer, TeamLease RegTech. Tune in!
We blame the Centre for low GDP, but India is run by states
Financial Express | Sanjeev Nayyar | Feb. 16, 2022
Another example is of the labour Codes recently introduced by the Centre. Similarly, maximum compliances are governed by state governments, Gautam C and Rishi A wrote in the ORF, “India’s businesses function in a regulatory universe of 1,536 Acts that demand 69,233 compliances and 6,618 filings across the Union and state governments. Of these, almost a third (30%, or 463) of the laws and almost half (47%, or 32,542) compliances come under the labour category. Statistically, almost all the compliances (97.1%) are governed by state governments and 937 by the Union government.”
Over 26,000 laws that can put a businessman in jail and cause 'unease' of doing business
Times Now News | Tamanna Inamdar | Feb. 16, 2022
A recent report by ORF and TeamLease highlights 26,134, often redundant laws that can jail a business person in India. Some of these laws though not implemented often hang like a sword over entrepreneurs.
Over 26,000 laws that can put a businessman in jail and cause 'unease' of doing business
FlipBoard | Tamanna Inamdar | Feb. 16, 2022
Chikermane explains that this 'regulatory cholesterol' has impeded the free flow of ideas and growth of business in the country. Compliances for a business with 100-200 people to just get off the ground can range between 40-80 and ongoing compliances could range between 400-450 a year points out Rishi Agarwal, Co Founder and CEO, TeamLease TechReg.
There are more than 26,000 ways to jail a businessman in India
Economic Times | ET Online | Feb. 16, 2022
Chikermane explains that this 'regulatory cholesterol' has impeded the free flow of ideas and growth of business in the country. Compliances for a business with 100-200 people to just get off the ground can range between 40-80 and ongoing compliances could range between 400-450 a year points out Rishi Agarwal, Co Founder and CEO, TeamLease TechReg.
Treating the businessman as a felon
The Hindu Business | R Srinivasan | Feb. 16, 2022
One look at “Jailed for doing business” — a research report by think tank ORF and temp staffing major Teamlease’s compliance advisory arm Teamlease Regtech, and any potential investor aiming to start a business in India is likely to take to the hills.
Over 26,000 laws that can put a businessman in jail and cause 'unease' of doing business
Economic Times | Tamanna Inamdar | Feb. 16, 2022
Chikermane explains that this 'regulatory cholesterol' has impeded the free flow of ideas and growth of business in the country. Compliances for a business with 100-200 people to just get off the ground can range between 40-80 and ongoing compliances could range between 400-450 a year points out Rishi Agarwal, Co Founder and CEO, TeamLease TechReg.
On ceaseless job hunt post-pandemic, techies are looking for flexible working & their dream firm
https://theprint.in | Anupriya Chaterjee | Feb. 15, 2022
“Until the last day, employers are not confident sometimes whether the employee will join or not. It could get scary for the HR or hiring teams,” he told ThePrint, but added that this could vary from case to case, depending on the “experience and maturity of the candidate”.
“I have seen that with people who have experience — I think they value what they get out of a contract over a period of time,” he said.
India’s Business Laws Need To Shed ‘Regulatory Cholesterol’: Observer Research Foundation
Boomberg Quint | Arpan Chaturvedi | Feb. 15, 2022
It’s not that penalty clauses including imprisonment should not be in business laws but 26,134 imprisonment clauses are surely a regulatory excess whose biggest contribution would only be to create a rent-seeking climate, the report authored by Gautam Chikermane and Rishi Agrawal says.
26,000 imprisonment clauses in biz laws: Most come under labour category
Flipboard | Jescilia Karayamparambil | Feb. 15, 2022
The research report titled 'Jailed for Doing Business', prepared by Teamlease and Observer Research Foundation (ORF), stated: "Almost two out of every five (37.7 per cent) clauses pertaining to doing business in India carry imprisonment as penalties. More than half the laws (or 54.9 per cent) carry imprisonment clauses."
26,000 imprisonment clauses in biz laws: Most come under labour category
CNBC | Jescilia Karayamparambil | Feb. 15, 2022
Speaking to CNBC-TV 18, Gautam Chikermane, vice-president at ORF, said: "The biggest compliance reforms needed in India are in the labour category — almost seven out of 10 imprisonment clauses (68.1 per cent) come under the labour category."
Licence raj is history, but inspector raj thrives: Gautam Chikermane & Rishi Agarwal
News Nine | Arun Kalyanasundaram | Feb. 14, 2022
Gautam Chikermane and Rishi Agarwal titled 'Jailed for Doing Business: The 26,134 Criminal Clauses in India's Business Laws' dwells on this very issue.
Archaic laws criminalise entrepreneurs
News India Express | Shankkar Aiyar | Feb. 13, 2022
The Factories Act is just one law and represents a larger malaise. A new study authored by Rishi Agrawal and Gautam Chikermane has drilled deep into the legal landscape governing businesses. Published by the Observer Research Foundation, the study reveals the shocking state of archaic laws governing livelihoods — the ecosystem of economic growth and well-being. The study shows that there are 843 laws (599 of them State laws) with clauses criminalising violation — with 26,134 compliances which host the threat of imprisonment. The width of the threat is stark — 11,042 clauses could lead to imprisonment of between one and three years, 1,481 specify jail term of three to five years, 1,821 list a prison sentence of five to 10 years and 207 carry a sentence of over 10 years.
Between doing business and jail.
IANS Live | IANSLive | Feb. 13, 2022
Jailed for Doing Business: the 26,134 imprisonment clauses in India’s business laws is a monograph by Observer Research Foundation that analyses newly isolated compliance data that entrepreneurs and corporations face. It offers recommendations that could help policymakers reimagine India’s compliance universe.
Between doing business and jail
IANS Live | Sukant | Feb. 13, 2022
It is a first-of-its-kind consolidation of business compliance data that had, to date, only existed in silos across ministries and departments. Collated over the past seven years by TeamLease RegTech, a regulatory technology solutions firm, the monograph has classified the data into seven broad domains - labour, finance, taxation; environmental health and safety; secretarial; commercial; industry-specific; general.
Between Doing Business And Jail
OMMCOM NEWS | OMMCOM NEWS | Feb. 13, 2022
It is a first-of-its-kind consolidation of business compliance data that had, till date, only existed in silos across ministries and departments. Collated over the past seven years by TeamLease RegTech, a regulatory technology solutions firm, the monograph has classified the data into seven broad domains – labour; finance and taxation; environment, health and safety; secretarial; commercial; industry-specific; and general.
India’s compliances conundrum – The Monetary Categorical
Times of Truth | FE Online | Feb. 12, 2022
India’s myriad legal guidelines and the net of compliances that include it pose a rising problem for entrepreneurs and companies. Sharing particulars on these, a simply launched analysis report by Teamlease RegTech and ORF, factors to the added drawback of legal guidelines armed with imprisonment as a instrument to manage, typically even for inadvertent and minor lapses. It factors to 26,134 particular clauses within the nation’s enterprise legislations, guidelines and laws that that impose jail phrases for violations. The report says if the amendments to the Corporations Act, 2013 get enacted, it may very well be the start line for deeper financial reforms. India’s entrepreneurial panorama, it says, is filled with legal guidelines, guidelines, and laws which have raised obstacles to doing enterprise. The Factories Act, 1948, for example, learn with 58 guidelines, comprise 8,682 imprisonment clauses. This is a crucial regulation because it supplies core protections to staff.
‘Jailing clauses in biz laws deter entrepreneurship’
Live Mint | Gireesh Chandra Prasad | Feb. 11, 2022
While the Centre is working on promoting ease-of-doing-business, over 26,000 imprisonment clauses in Indian commercial laws are likely to throw a spanner in the works, regulatory technology firm Teamlease RegTech and Observer Research Foundation (ORF) said in a joint report.
Aapki khabar Aapka Fayda
Zee Business | RISHI AGRAWAL | Feb. 11, 2022
On Commodity With Rishi Agrawal, TeamLease RegTech
Reimagining India’s business compliances
Hindustan Times | Rishi Agrawal | Feb. 11, 2022
India’s legacy framework has viewed entrepreneurs with distrust and used criminality as a tool for control. This needs urgent repeal. Here is a way
Ease of doing business: Report recommends easing of compliance burden on firms
The Financial Express | FE Bureau | Feb. 10, 2022
Stating that a huge compliance burden has been hampering the ease of doing business in general and the growth of the manufacturing sector in particular, a new report pitched for a thorough review of all provisions for jail terms for non-compliance by employers, and decriminalising technical and procedural lapses, immediately.
In addition, the report tilted ‘Jailed for Doing Business’, prepared by Teamlease in association with Observer Research Foundation (ORF), has recommended constituting a regulatory impact assessment committee and sunset clauses in India’s business laws.
Entrepreneurs face over 26,000 imprisonment clauses in Indian biz laws: Study
Business Today | Aparna Banerjea | Feb. 10, 2022
"Using newly isolated data on 26,134 imprisonment clauses embedded in laws enacted by the Union and state governments, it provides the risks faced by entrepreneurs and corporations in doing business in the country," the study by Observer Research Foundation and Teamlease RegTech stated.
Study flags 26,134 legal threats to entrepreneurship
Business Standard | Deepsekhar Choudhury | Feb. 10, 2022
Five states have more than 1,000 imprisonment clauses in their business laws: Gujarat (1,469), Punjab (1,273), Maharashtra (1,210), Karnataka (1,175), and Tamil Nadu (1,043), according to a study by Observer Research Foundation and TeamLease RegTech.
Jailed for doing business: Over 26K Indian law compliances with imprisonment clauses
Deccan Hearld | PTI | Feb. 10, 2022
Excessive criminalization of employer compliance universe breeds corruption, blunts formal employment and poisons justice, says Manish Sabharwal, Vice Chairman of TeamLease - which had collated the report with ORF.
"This report is a wonderful contribution to ideas for actionable reforms; the government has made a good start in purging compliances but truly reducing regulatory cholesterol requires extending that project to purging the 26,134 jail provisions for employers at the centre and state."
Study flags 26,134 legal threats to entrepreneurship
Business Standard | Deepsekhar Choudhury | Feb. 10, 2022
Five states have more than 1,000 imprisonment clauses in their business laws: Gujarat (1,469), Punjab (1,273), Maharashtra (1,210), Karnataka (1,175), and Tamil Nadu (1,043), according to a study by Observer Research Foundation and TeamLease RegTech.
Over 26,000 ways an entrepreneur can land in jail for non-compliance of business laws
The Hindu Business Line | Our Bureau | Feb. 10, 2022
A research report by Teamlease Regtech and ORF highlighted the issues related to compliances and had given recommendations to improve doing business.
Non-compliance of two out of five provisions for doing business can send an entrepreneur to jail, said a research report prepared by TeamLease RegTech, in association with the Observer Research Foundation (ORF), a globally leading multidisciplinary think tank.
Teamlease Regtech, regulatory technology company, has highlighted issues related to compliances and given its recommendation to further improve doing business, in its report titled “Jailed for Doing Business: the 26,134 imprisonment clauses in India’s business laws”
‘Jailed for doing business’ report
Edukemy Gazette | GAUTAM CHIKERMANE, RISHI AGRAWAL | Feb. 10, 2022
A report by TeamLease RegTech and the Observer Research Foundation titled, ‘Jailed for doing business’ delves into the compliance burden on Indian firms.
Over 26,000 clauses that can put entrepreneurs in jail for non-compliance with business laws: Report
Financial Express | FE Online | Feb. 10, 2022
India has 69,233 unique compliances that regulate doing business in the country, of which 26,134 clauses have imprisonment clauses, in other words, almost two out of five compliances can send an entrepreneur to jail, according to the report Jailed For Doing Business by TeamLease RegTech and Delhi-based independent think tank Observer Research Foundation.
Jailed for Doing Business: The 26,134 Imprisonment Clauses in India's Business Laws
Observer Research Foundation | GAUTAM CHIKERMANE and RISHI AGRAWAL | Feb. 10, 2022
India suffers from ‘regulatory cholesterol’ that is getting in the way of doing business. The legislations, rules and regulations enacted by the Union and State governments have over time created barriers to the smooth flow of ideas, organisation, money, entrepreneurship and through them the creation of jobs, wealth and GDP.
Expectations from the budget: Women entrepreneurs hope for Kovid exemption from the Finance Minister
https://zeenews.india.com | Zee Up - Uttarakhand | Feb. 1, 2022
Finance Minister Nirmala Sitharaman herself is a woman, so women have a lot of hope in the general budget 2023. Dr. Garima Sahni, cofounder of Pristine Healthcare, said that women have faced a lot of crisis during the Corona period, so they should get Covid incentive.
Decoding the Budget | Panel discussion | Budget With The Federal
Youtube.com | The Federal | Feb. 1, 2022
What does the Budget mean for the average Indian? What’s the nation doing to manage and grow its wealth? Does the Budget provide a way forward to CEOs and CFOs? Will it help them expand and create jobs? Can politics be separated from the Budget, supposedly a socio-economic document? Particularly since Lok Sabha elections are just a year away? Do not miss our Live Zoom sessions with leading experts in various fields.
Budget 2022-23: Industry experts hail reduced compliances, digitisation, Ease of Doing Business 2.0
Economic Times | Garima Bora | Feb. 1, 2022
Rishi Agarwal, CEO, TeamLease Regetech Pvt Ltd, was happy to see that a number of compliances have been done away with. “There's a lot of redundancy, overlap, and duplication in doing a business. It was good to see that the finance minister acknowledged the overlapping in compliances. I personally feel that 25 to 30% of India's compliance issues suffer because of overlapping,” he said.
Budget 2023-24: Proposals on Direct Taxes Code that can benefit taxpayers
https://thefederal.com | Sandeep Agrawal | Jan. 25, 2022
Through Direct Taxes Code, the Centre aims to simplify the structure of direct tax laws in India into a single legislation. Here are some proposals on DTC that, if implemented, can provide great relief to individual and corporate taxpayers
Budget 2023 Expectations Live Updates: Will Homes Become More Affordable?
https://www.news18.com | Business Desk News 18 | Jan. 25, 2022
Experts expect higher infra spending, the budget to enhance the disposable income of middle-class households, and list what the key priorities should be for the government in the upcoming budget.Budget 2023 may see India stepping up on capex with a major thrust on Gati Shakti and National Infrastructure Pipeline (NIP) targets and National Infrastructure Pipeline (NIP) targets. Nirmala Sitharaman’s last full Budget before elections, may also have dedicated
For businesses in 2021, there were about 15 changes in law every day, 3680 in a year
Economic Times | ET Online | Jan. 24, 2022
India’s laws and regulations are not static and change very often. Changes to dates, deadlines, forms, duties & interests, penalty calculations, the addition of a compliance item, deletion of a compliance item (rarely), and introduction of new acts, stifle every business in terms of compliance. Of the changes in the law about 2600 updates came from the central government, and about 900 from state governments. The Budget must find a way to address this.
Live: India Surpasses China As The World's Most Populous Nation; What Does That Mean For India?
https://www.moneycontrol.com | Money Control | Jan. 24, 2022
India has surpassed China as the world’s most populous nation. Is it a boon or a bane for India? Catch the conversation as Moneycontrol's Shweta Punj talks with Poonam Muttreja, Executive Director at Population Foundation of India, and Rishi Agrawal, CEO at TeamLease Regtech!
How private sector can help govt boost its regulatory capacity to enhance ease of doing business
Financial Express | Rishi Agarwal | Jan. 9, 2022
Ease of Doing Business for MSMEs: Higher compliance means greater complexity and greater opportunity for corruption. The government can’t keep hiring people to manage regulatory support and build enforcement capabilities.
Why the new income tax regime has few takers
Money Control | KHYATI DHARAMSI & PREETI KULKARNI | Jan. 3, 2022
This has led to additional procedural complications at both employers’ and chartered accountants’ desks. “Most organisations and their HR departments feel maintaining employees’ records on their choice between the two regimes increase the complexities and paperwork burden,” says Prashant Singh, VP & Business Head - CPO, Teamlease Services.
Companies may cut HRA, give other reimbursements to employees opting for permanent WFH
The Economic Times | Yogima Seth Sharma | Dec. 17, 2021
Prashant Singh, head and vice president, Teamlease Compliance & Payroll Outsourcing Business, said the employees opting for permanent work from home will have a change in salary stature, like in the components of HRA and professional tax.
Labour welfare fund is another issue, besides the applicability of state labour laws in such situations that need to be clarified.
BC Prabhakar, chairman and advocate of BCP Associates and a labour law expert, feels legislation should be avoided as work from home is an evolving concept in India.
How to make group term claim settlement smoother
Money Control | Prashant Singh | Dec. 16, 2021
Most companies offer group term plans to their employees, in addition to health insurance. To prepare for any eventuality, it is crucial for employees to have a nominee who is entitled to receive benefits. Employers should also periodically check nominations
Start-ups step in with innovative digital solutions for issues plaguing MSMEs
The Indian Express | Parthasarathi Biswas | Dec. 13, 2021
Rishi Agarwal, the CEO of the Pune-based company, pointed out how a micro-unit has to adhere to 500-900 compliances annually, which translates to 100-140 filings a year.
“This would amount to 1.5 filings every second business day,” he said. Any company would have to deal with five to six consultants for these filings which are related to labour, direct tax, indirect tax (GST, etc), environment/health/safety measures, company secretary and a miscellaneous consultant who would look after various industrial licenses that need to be taken. “Other than money, the leadership team of the unit would spend considerable time in coordinating with the various consultants to ensure their unit does not default,” he said.
TeamLease Services increases stake in Avantis Regtech and renames company to TeamLease Regtech
Sakhtkhabar | | Dec. 6, 2021
Rishi Agrawal has been quoted “Corporate India faces rising demands for robustness and transparency in governance, risk and compliance. Traditional, manual, ad-hoc, paper based and people dependent compliance fail to scale. Avantis started in 2015 and entered into a strategic and equity partnership with TeamLease Services in 2018; expanding this partnership was logical as policymakers target multiple ease-of-doing business metrics to expand formal job creation.”
Increasing adoption of digital compliance solutions by pharma companies
Express Pharma | Rishi Agarwal | Nov. 28, 2021
Rishi Agrawal, CEO and Co-founder, TeamLease Regtech, explains the importance of consolidated, data-driven and real-time compliance systems for a better future of pharmaceutical companies
Automatic transfer of your EPF accounts on job change to happen soon
The Economic Times Wealth | Preeti Motiani | Nov. 26, 2021
Prashant Singh, Business Head, TeamLease Compliance quoted “So far employees had been undergoing nightmare to transfer their PF from earlier employer to the new one. Paperwork, timelines and back and forth led to confusion and delay in the entire process. With this new initiative, it would ease of the way to transfer the PF from earlier employer to new employer seamlessly. The employee just need to ensure that his/ her UAN is linked to aadhar . If not linked a small manual / offline form submission can be given to new employer to establish that this is another big relief for employee and employer as this is used to consume huge amount of time between both of them to process and transfer”
INDIA – TEAMLEASE SERVICES INCREASES STAKE IN AVANTIS AND RENAMES IT TEAMLEASE REGTECH
Staffing Industry Analysts | | Nov. 3, 2021
Rishi Agrawal, Co-founder & Director, TeamLease Regtech, said, “Corporate India faces rising demands for robustness and transparency in governance, risk and compliance. Traditional manual, ad-hoc, paper-based and people dependent compliance fail to scale. Avantis started in 2015 and entered into a strategic and equity partnership with TeamLease Services in 2018; expanding this partnership was logical as policy makers target multiple ease-of-doing business metrics to expand formal job creation.”
TeamLease Services increases stake in Avantis Regtech and renames company to TeamLease Regtech
France Network Times | Rishi Agrawal and Ashok Reddy | Nov. 2, 2021
Commenting on the partnership, Ashok Reddy, Managing Director, TeamLease Services, said, "COVID has accelerated the digitization of employer plumbing by ten years. Simultaneously, policymakers are adopting a new policy thought-world that moves beyond the now discontinued World Bank EODB ranking to an employer perspective. Regtech is important infrastructure for Putting India to Work and in anticipation of the addressable market expanding by 20X, we are excited to expand our partnership with Avantis."
Pay transparency a far cry in India
The New Indian Express | Samiksha Goel | Oct. 17, 2021
Indian industry still goes largely with partial pay as they would like to pay more to deserving candidates or to the new recruiting candidates, says Prashant Singh, Vice President and Business Head-CPO, TeamLease Services. 70% of employees in the country agree that transparency is a must and good for business, according to Teamlease, an HR firm.
Run a business? 26,134 ways to end up in jail
Financial Story | Financial Story | Sept. 30, 2021
Rishi Agrawal, CEO, Avantis Regtech, says there have been improvements in EoDB rankings. According to him, India was in the bottom quartile back in 2014 but is now in the second quartile in 2020, which is the latest ranking. “In absolute terms, significant changes have happened. But is this enough for a country that is looking to get to $10 trillion as its logical destination in this decade? The answer is no,”
Run a business? 26,134 ways to end up in jail
Financial Story | Financial Story | Sept. 30, 2021
Rishi Agrawal, CEO, Avantis Regtech, says there have been improvements in EoDB rankings. According to him, India was in the bottom quartile back in 2014 but is now in the second quartile in 2020, which is the latest ranking. “In absolute terms, significant changes have happened. But is this enough for a country that is looking to get to $10 trillion as its logical destination in this decade? The answer is no,”
Explained: All about how your EPF contributions above Rs 2.5 lakh would be taxed
Money Control | PREETI KULKARNI | Sept. 6, 2021
High-earners whose basic annual salary is over Rs 21 lakh or Rs 1,73,612 a month would be affected. For government employees, this EPF contribution threshold is higher, at Rs 5 lakh
BRIC By Brick, India’s Demographic Dream Unravels
Bloomberg Quint | Shankkar Aiyar | Sept. 2, 2021
Brazil, India, Russia, and China have the potential to alter the global economic order and China would overtake the United States and India would be the third-largest economy by 2050
Claims to be made in case of an employee’s death
Live Mint | Renu Yadav | Aug. 20, 2021
If an employee dies, EPS will be given to the spouse and two children, who must be below 25 to be eligible
Billing if an employee dies
India News Republic | Mustaksubhedar | Aug. 19, 2021
Many have lost their loved ones in covid-19. Such losses can be catastrophic, especially if the deceased is part of a family. Dependents need to deal not only with the loss but also with the paperwork pain required to make various claims in the absence of specific guidance. In this regard, here is a guide to the claims that a statutory heir or dependent must make if the deceased was an employee.
Here is what to do to get your retirement plan back on track
Live Mint | Anagh Pal | Aug. 18, 2021
While younger professionals have time on their hands to recover, for many nearing retirements, these events could have derailed retirement plans.
Govt needs to act to spur private investment
Financial Express | The Financial Express | Aug. 13, 2021
Draft e-commerce rules a good example of a policy that discourages private sector, compliance-need elsewhere also daunting
5 common mistakes that HR leaders make when it comes to labour compliance
ET HR World | Prashant Singh | Aug. 12, 2021
In the future, compliance will continue to become a more important aspect for companies and organizations will expect HR and compliance leaders to be more informed and in control so that they can enable the company to function seamlessly
Contractual, temporary roles account for bulk of jobs generated during April, May
moneycontrol.com | SHREEJA SINGH | Aug. 11, 2021
It’s a worrisome trend since these are contractual jobs with low wages and have no bargaining power. In the long term, it could impact consumption and demand, warns an expert. Companies are increasingly reducing highly paid workforce and deferring their recruitment as well.
8 reforms to end India’s regulatory cholesterol
News 18 | GAUTAM CHIKERMANE AND RISHI AGRAWAL | July 31, 2021
The 1991 reforms changed the business climate of India’s economy. The policy ended License Raj but did not move a needle on Inspector Raj.
How fresh graduates must structure their salaries for more cash in hand
Money Control | PREETI KULKARNI | July 30, 2021
Do not be swayed by a seemingly large gross remuneration package if conveyance reimbursement, variable pay and insurance premium make up a major part of it.
Fat salary but bigger risks: Is this a tech job that nobody wants?
moneycontrol.com | M SARASWATHY & SWATHI MOORTHY | July 6, 2021
Multiple liability risks involved with the job position of the Chief Compliance Officer under the IT Rules 2021 has led to these roles either taking longer to get filled, or staying vacant. Given their onerous responsibilities, that is hardly a surprise
Teamlease reveals that some states in India are moving faster than others in trying to remove archaic laws
Business Insider | BHAKTI MAKWANA | June 29, 2021
Rishi Agrawal, chief executive officer (CEO) of Avantis Regtech – a TeamLease group company explains the compliance struggle for the MSME industry
75% companies find paper-based compliance complex: Survey
https://www.livemint.com/ | Kalpana Pathak | March 31, 2021
"Managing compliance in India is an up-hill task, as the landscape is very complex. We have a universe of 1,536 Acts and 69,233 Compliances that change over 3,000 times a year. Each company not only has to deal with multiple compliance requirements but also numerous deadlines," said Rishi Agrawal, CEO, Avantis Regtech Pvt Ltd
Avantis Regtech, TeamLease’s compliance arm, improves profitability for PCS firms, with the launch of their new automation platform
APN News | APN News Author | March 10, 2021
One of the leading integrated compliance regulatory technology firms, Avantis Regtech, from the house of TeamLease Services has today announced the launch of a new automation platform – AVASEC, for practicing company secretaries (PCS).
Avantis Regtech, TeamLease’s compliance arm, improves profitability for PCS firms, with the launch of their new automation platform
CXO Outlook | CXO Editorial Team | March 10, 2021
Sharing more information about the new product, Mr Rishi Agrawal, CEO and Co-Founder, Avantis Regtech, said, “Currently more than a million companies in India outsource their secretarial compliance to PCS firms. Typically, a PCS manages 50 clients annually, in some large firms it may go up to 500.
How India can improve its EoDB
Financial Express | Rishi Agrawal | Feb. 25, 2021
Increased digitisation efforts in various areas, from inspection to compliance management to regulatory communication, could reap significant dividends
The Labor code may cause white-collar workers and managers to get paid for overtime!
NewsExpressPost | Author | Feb. 24, 2021
In the new labor regulations, professionals who work long hours may need to cheer for one thing, because if the new legislation is fully implemented, the scope of overtime pay will be expanded so that all employees and managers are welcome.
Post Budget Reaction: Startup Sector
The Via | The VIa | Feb. 2, 2021
The Finance Minister Nirmala Sitharaman presented the Union Budget 2021 on Monday where she made a lot of announcements for various sectors. This was the first budget after the pandemic where everyone had some expectations from the finance minister. Here are the reactions from the Industry experts.
Labour Code may lead to overtime pay for white-collar, managerial employees
News Robin | News Robin | Dec. 7, 2020
Pros putting in place further hours at paintings will have one thing to cheer for within the new labour codes as the brand new legislation, if carried out in its entirety, would widen the purview of time beyond regulation pay to incorporate all staff, together with managerial personnel.
Labour code may lead to overtime pay for managers too
The Economic Times | Nehal Chaliawala, Pavan Burugula | Dec. 7, 2020
Professionals putting in extra hours at work may have something to cheer for in the new labour codes, as the new law, if implemented in its entirety, would widen the purview of overtime pay to include all employees, including managerial staff.
Labour Code may lead to overtime pay for white-collar, managerial employees
Pehal News | Pehal News Team | Dec. 7, 2020
Professionals placing in further hours at work may have one thing to cheer for within the new labour codes as the brand new legislation, if carried out in its entirety, would widen the purview of overtime pay to embrace all employees, together with managerial workers.
Labour Code may lead to overtime pay for white-collar, managerial employees
Techno Codex | Jason Junior | Dec. 7, 2020
Professionals putting in extra hours at work may have something to cheer for in the new labour codes as the new law, if implemented in its entirety, would widen the purview of overtime pay to include all employees, including managerial staff.
Choked by red tape
India Today | Shweta Punj | Dec. 5, 2020
Indian firms are hobbled by endless compliances, complicated laws and overlapping regulations.
New rules to sign up for GST
Kashmir Pen | Web Desk | Nov. 23, 2020
An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.
New rules to sign up for GST
U4UVoicee | U4UVoice | Nov. 23, 2020
An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.
New rules to sign up for GST – Mint
India Finance News | Kalpana Warrier | Nov. 23, 2020
An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.
New rules to sign up for GST
Clearmytax | Clearmytax.in Editorial Team | Nov. 23, 2020
The proposals by the law committee of the GST Council, comprising central and state officials who advise its ministerial members, aim to tighten compliance measures and target restrictions on firms identified as risky
New rules to sign up for GST
Digitalrunn | Gireesh Chandra Prasad | Nov. 23, 2020
An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.
GST Council defines some New rules to GST registration will be linked to biometrics authentication
haqExpress | Nandani | Nov. 23, 2020
The proposals by the law committee of the GST Council, comprising central and state officials who advise its ministerial members, aim to tighten compliance measures and target restrictions on firms identified as risky, without affecting the convenience of doing business generally , said a finance ministry official.
GST Council Law Committee recommends Aadhaar-like registration for new applicants
The Plunge Daily | Nandika Chand | Nov. 23, 2020
The law committee of the GST Council, after two days of deliberations, has recommended for an Aadhaar-like registration process for new applicants under the GST regime. Its proposals aims to tighten compliance measures and target restrictions on firms identified as risky.
New rules to sign up for GST
Business2Business | B2B Desk | Nov. 23, 2020
The proposals of the Legal Committee of the GST Board of Directors, made up of central and state officials who advise their ministerial members, aim to toughen compliance procedures and target restrictions on companies that have been identified as risky.
The proposals by the law committee of the GST Council
Indian Revenue | Puja Aithani | Nov. 23, 2020
An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.
GST panel proposes overhaul of registration process to check tax evasion
LiveMint | Gireesh Chandra Prasad | Nov. 22, 2020
The recommendations include use of Aadhaar or Aadhaar like biometric identification for new registrations, steps to identify businesses that pose risk of revenue loss to the exchequer
We blame the Centre for low GDP, but India is run by states
Financial Express | Sanjeev Nayyar | Nov. 3, 2020
Rishi A wrote in the ORF, “India’s businesses function in a regulatory universe of 1,536 Acts that demand 69,233 compliances and 6,618 filings across the Union and state governments. Of these, almost a third (30%, or 463) of the laws and almost half (47%, or 32,542) compliances come under the labour category. Statistically, almost all the compliances (97.1%) are governed by state governments and 937 by the Union government.”
Punjab Inks MoU With The Global Alliance for Mass Entrepreneurship (GAME) In Partnership With Omidyar Network India
Business World | BW Online Bureau | Nov. 3, 2020
In order to ensure the ease of doing business for the MSMEs in Punjab, Government of Punjab has signed a Memorandum of Understanding (MoU) with The Global Alliance for Mass Entrepreneurship (GAME), supported by Omidyar Network India (ONI).
Punjab govt inks settlement with GAME to help MSMEs
News24Nation | Web Desk | Nov. 3, 2020
The Punjab government has news24nationed a concurrence with the Global Alliance for Mass Entrepreneurship (GAME) to improve ‘simplicity of working together’s for MSMEs in the state under Omidyar Network India’s ‘ReSolve Initiative’. The ReSolve Initiative spotlights on giving financing backing to beacon extends that are making answers for enable miniature, little and medium endeavors (MSMEs) just as traveler laborers.
Punjab govt inks pact with GAME to support MSMEs
Economic Times | PTI | Nov. 3, 2020
The Punjab government has signed an agreement with the Global Alliance for Mass Entrepreneurship (GAME) to improve 'ease of doing business' for MSMEs in the state under Omidyar Network India's 'ReSolve Initiative'.
Latest News | Punjab Govt Inks Pact with GAME to Support MSMEs
Latestly | PTI | Nov. 3, 2020
New Delhi, Nov 3 (PTI) The Punjab government has signed an agreement with the Global Alliance for Mass Entrepreneurship (GAME) to improve 'ease of doing business' for MSMEs in the state under Omidyar Network India's 'ReSolve Initiative'.
Punjab govt inks pact with GAME to support MSMEs
Pehal News | Pehal News Team | Nov. 3, 2020
The Punjab authorities has signed an settlement with the Global Alliance for Mass Entrepreneurship (GAME) to enhance ‘ease of doing enterprise’ for MSMEs within the state beneath Omidyar Network India‘s ‘ReSolve Initiative'
Punjab govt inks pact with GAME to support MSMEs
Devdiscourse | PTI | Nov. 3, 2020
The Punjab government has signed an agreement with the Global Alliance for Mass Entrepreneurship (GAME) to improve 'ease of doing business' for MSMEs in the state under Omidyar Network India's 'ReSolve Initiative'.
Punjab govt inks pact with GAME to support MSMEs
Outlook India | PTI | Nov. 3, 2020
The Punjab government has signed an agreement with the Global Alliance for Mass Entrepreneurship (GAME) to improve ''ease of doing business'' for MSMEs in the state under Omidyar Network India''s ''ReSolve Initiative''.
Punjab inks MOU with game to support msmes, in partnership with Omidyar Network India
5 Dariya News | Web Admin | Nov. 2, 2020
In another significant step towards ensuring ease of doing business by simplification, digitization and decriminalization of compliances, Government of Punjab has signed a Memorandum of Understanding (MoU) with The Global Alliance for Mass Entrepreneurship (GAME), supported by Omidyar Network India (ONI), an investment firm focused on social impact, under its recently announced ReSolve Initiative.Punjab is home to 2.59 lakh MSMEs that employ a total of 20.29 lakh employees
Centre’s new labour codes leave room for rule-making, interpretation
Business Line | V Narayan | Oct. 6, 2020
Though the labour code’s aims are lofty, it’s silent on matters like determination of minimum wages, eligibility criteria
Labour reforms: Future-ready but devils of detail lie in states
Observer Research Foundation | Gautam Chikermane, Rishi Agrawal | Oct. 3, 2020
Overhaul, not patchwork; good, not perfect; green shoots, not forest. The assimilation of 44 Union labour laws into four codes and 1,458 sections into 480 (a fall of 67 percent or the removal of two out of three sections on average) by Parliament should, if the baton of intent is taken up by state legislatures enacting their rules in the race of growth and prosperity, deliver a business environment more in tune with the future.
Labour reforms: Still a long way to go for India, says Rishi Agrawal, co-founder & CEO, Avantis Regtech
Financial Express | FE Bureau | Sept. 26, 2020
There are different due dates, multiplicity of forms and formats, duplication and redundancy in record-keeping requirements, complex procedures, ambiguous interpretations, leading to a really complex regulatory environment.
New labour laws are pro-business, anti-workers
Business Today | Sonal Khetarpal | Sept. 25, 2020
The three labour codes seen together fail to achieve even reasonable balance between enabling of ease of doing business, and protecting & strengthening labour welfare and their rights
Maharashtra lags behind in "Ease of Doing Business"
Sakal | MCCIA | Sept. 8, 2020
Maharashtra lags behind in "Ease of Doing Business''. Businesses should be inspected online. MCCIA and Avantis RegTech Pvt. Ltd. suggested state government.
Reduce state-level regulatory cholesterol to aid job creation
Live Mint | Manish Sabharwal & Rishi Agrawal | Sept. 7, 2020
The compliance burden imposed by states on enterprises is too thick for them to flourish and generate formal employment.
MSME revival may only be possible from the next fiscal
The Week | Abhinav Singh | Aug. 12, 2020
Despite revival measures by the government that have gradually unlocked the Indian economy following coronavirus-induced lockdowns, the revival of Micro, Small, and Medium Enterprises (MSMEs) is unlikely anytime soon, with prospects for recovery only by the next fiscal year.
Zee Business makes clarion call - Kam Caro Compliance!
Zee Business | ZeeBiz WebTeam | Aug. 10, 2020
Doing business in India is not exactly easy - much better than before, but still requires work. Business compliance can actually take a toll on you. The government has been doing its bit to enable Ease of Doing Business in the country and it has gone a long way in simplifying the many processes. However, these still remain a burden on businesses.
India’s small firms are staring into the abyss
Livemint | Goutam Das | July 28, 2020
A ground report reveals that many MSMEs are fighting a grim battle for survival. What can save the day?
If small companies start winding up, it could exacerbate the supply-side issues of corporate India up the value chain. It could also have a big impact on the economy and employment
The real issue: Businesses need to comply with 194 labour laws, spend Rs 4.58 lakh per annum
The Economic Times | Amol Kulkarni & Rishi Agrawal | July 18, 2020
A typical MSME is required to deal with 364 compliances in a year i.e. one compliance a day, with adverse consequences including penalties and imprisonments, in some cases of non-compliances. Of these, 194 are labour related.
India’s ‘Regulatory Cholesterol’ Still Obstructs Ease Of Doing Business
Bloomberg | Quint | BQ Desk | July 12, 2020
India's notorious red tape continues to hamper ease of doing business despite recent gains. Businesses have to deal with a combined 1,536 acts, 69,233 compliances and make almost 7,000 filings in the country, an analysis by TeamLease, a staffing, regulatory and compliance management firm, showed. States with larger economies such as Gujarat and Maharashtra have more than 3,000 compliance requirementes each.
Shed regulatory cholesterol
India Today | Manish Sabharwal & Rishi Agrawal | July 11, 2020
India’s regulatory cholesterol is a direct result of the Avadi Resolution of 1955 that murdered competition, kneecapped capital markets and distrusted entrepreneurs.
To convert Atmanirbhar Bharat into reality, Modi needs to wage a war
Observer Research Foundation | Gautam Chikermane, Rishi Agrawal | July 4, 2020
For Prime Minister Narendra Modi’s 12 May 2020 political slogan of Atmanirbhar Bharat to become a reality, he will have to wage a war. In this war, words and slogans will not do; at best they will be a starting point. This war will challenge an enemy that is deeply and integrally embedded in the political economy of India. It will have to obliterate the vested interests of a corrupt establishment. It will have to destroy carefully-created edifices of an unaccountable, entitled and rent-seeking economic system where the incumbent beneficiaries will fight back.
Rationalisation, decriminalisation, digitsation: The three-pronged view to reduce MSME compliance burden
Financial Express | Rishi Agrawal | June 30, 2020
Ease of Doing Business for MSMEs: The burden of compliance for MSMEs is disproportionately high while their resources are limited. They need to deal with 27 licenses, registrations, permissions and consent orders.
Regulatory Changes in India in the Time of COVID19: Lessons and Recommendations
Observer Research Foundation | Gautam Chikermane, Rishi Agrawal | June 10, 2020
This report tracks the changes to India’s business regulatory framework in the first 40 days of the nationwide lockdown due to the COVID-19 virus. The Union and state governments have been highly proactive in creating spaces for doing business while managing the ongoing health crisis. The governments have attempted to modify the business-related legal infrastructure within the confines imposed through the lockdown.
Work from home: Employee benefits set for overhaul as companies redraft rules
live mint | Kalpana Pathak, Romita Majumdar | May 16, 2020
Mumbai: Companies are taking a relook at employee benefits and employer liabilities as a majority of their staff work from home amid the lockdown. Human resource consultancy firms say companies are increasingly trying to understand how liabilities change for them going forward, as a vast workforce remains at home.
Labour Reforms: Drug of choice for economic resuscitation during Covid-19
TaxGuru | Rishi Agrawal | May 16, 2020
The huge economic costs of Covid-19 virus are clearly visible. Everything that India does to kill the virus is killing the economy. The Centre and States have done well to protect lives so far. However, it is time to move forward and protect the livelihood as well. Restarting the stalled economy is an unprecedented public policy challenge.
India to benefit from US-China trade war: Experts
The Economic Times | Press Trust of India | May 16, 2020
The ongoing trade war between the US and China will help India tap export opportunities in both the countries in areas such as garments, agriculture, automobile and machinery, according to trade experts.
COVID19: Shivraj Singh Chouhan initiates Reforms 2.0 in Madhya Pradesh
ORF | Gautam Chikermane, Rishi Agrawal | May 8, 2020
India’s encounters with economic reforms remain steeped in disbelief. Or, shall we say, preconceived notions, anchored in the status quo of the past, prevent us from observing, leave alone celebrating, them. The underreporting of ground-zero reforms unleashed by Madhya Pradesh Chief Minister Shivraj Singh Chouhan on 7 May 2020 is a classic case. Perhaps, it is to do with the language Chouhan used — Hindi, and not English. Or, it has been downplayed in the national media because these policies pertain only to the state of Madhya Pradesh. Or, and we believe this could be the biggest reason, the inherent bias against the BJP (that the Party and BJP-governed states) can and will do nothing on economic reforms.
COVID-19: Yogi Adityanath attempts reforms, delivers regulatory chaos in Uttar Pradesh
ORF | Gautam Chikermane, Rishi Agrawal | May 8, 2020
The 8 May 2020 notification by the Uttar Pradesh government suspending all labour laws is unconstitutional and regressive. Hurriedly drafted with little more than a short-term outlook, it will not attract any investment into India’s most populous state. Worse, it could create labour-capital hostility and cart the state back to the 1970s, with constant clashes between trade unions and managements.
As India readies to work from home, a compliance alert
ORF | Rishi Agrawal | March 19, 2020
Every economic shock leaves a legacy. The deadly coronavirus will be no different. This time it’s a public health emergency that’s shaking up the world economy. In just a few weeks, Coronavirus has changed how we meet and greet each other, how we work and how our children are educated. Offices around the world are empty. This has unwittingly sparked off a giant global experiment in mass remote working. Our work environment is suddenly being reinvented. What demonetisation did to digital payments, corona may end up doing to the future of work. Remote working is an idea whose time has come.
Companies can lay off employees after contract, season is over; bill tabled in Lok Sabha
| Samrat Sharma | Nov. 27, 2019
Rishi Agrawal, CEO and CoFounder of Avantis Regtech and Rituparna Chakraborty, VP, TeamLease Services share their views on the Industrial Relations Bill 2019 tabled in the Lok Sabha on 28th November 2019.
Govt must lead by example and respect the contracts it enters into
| Sumita Kale | Nov. 13, 2019
In its quest to reach the top 25 in EoDB ranking, India may find it quicker to move ahead in other parameters, for contract enforcement, the challenges are deeply rooted.
The gain and the pain of ease of doing business in India
| Sumita Kale | Oct. 28, 2019
In its update on the first 100 days of the new government, the DPIIT announced that the National Ease of Doing Business Policy has been finalised. While specific details are not yet out in the public domain, this policy reportedly puts the onus on government departments to measure the time and cost spent by companies on licences, registrations, renewals and the like and work towards rationalising the burden, simplifying and digitising the compliance process.
Done well, the National Ease of Doing Business Policy can mark a paradigm shift in the way the government views regulation. Easing the compliance burden is the game-changing move that our businesses need to unleash their productivity, the move that we desperately need to realise our goal of a 5 trillion dollar economy, the move that will take India into the top 25 ranks in the world.
India’s Ease of Doing Business rank no cheer for MSMEs
| Sumita Kale | Oct. 23, 2019
When it comes to delayed payments, a digital, impersonal, transparent solution should have a better impact than a compliance driven one. In any case, the government should do away with the MSME Form 1, which is the half yearly return with the Registrar of Companies on outstanding payments to micro or small enterprises. Instituted early this year, this form asks all companies, including MSMEs, to give details on outstanding dues to micro and small companies, and reasons for those. This half yearly return has increased the compliance burden on MSMEs and more pertinently, the additional paperwork has had no impact on improving the culture of payments. As a starting point, the MCA can consider mandating this return only for large companies, with turnover more than Rs 250 crore.
India ranks 63 in World Bank's Ease of Doing Business
| | Oct. 23, 2019
Rishi Agrawal, Co-Founder and CEO Avantis Regtech Pvt Ltd
For the third year in a row, India has been one of the top improving economies in the World Bank Ease of Doing Business ranking. This reflects the government's determined push towards reforms. India's rank has improved from 77 last year to 63 this year. India's reforms have stood out in four categories out of 10 - Starting a new business, Dealing with construction permits, trading across borders and resolving insolvency. This is extremely commendable. Further, there is a strong possibility that India breaks into the top 50 next year, the reforms since June 2019 (including the rate cut for corporates, easing GST returns process etc.) will be reflected only in the exercise next year. However, despite this creditable achievement, Indian businesses continue to be plagued by a high compliance burden of over 58,000 compliances, more than 3000 returns and over 2500 changes every year. To give just one instance of the high compliance burden, for a startup working from a home office or shared space, within its first year, it needs to obtain registrations under at least seven regulators and file a minimum of 18 returns to a maximum of 69 returns - this has to be rationalised at the earliest. The government needs to be focused on reforms in the three vector framework of rationalisation, digitisation and simplification, particularly in the categories that continue to stand out with poor performance - starting a new business (Rank 136), registering property (Rank 154) and enforcing contracts (Rank 163).
“Reducing compliance burden key for safe food”
| Nandita Vijay | Oct. 13, 2019
An interview with Rishi Agrawal, co-founder and CEO, Avantis Regtech on the compliance burden in food processing industry in India.
The steel frame has become a cage. A $10-trillion economy needs deep civil service reform
| Manish Sabharwal | Oct. 8, 2019
Manish Sabharwal highlights the need for civil service reform " Cutting edge economics views development as a game of scrabble where vowels provided by the government enable the private sector to make more words and longer words. The current civil service fails to provide enough vowels; the steel frame has become a cage"
Key Challenges faced by Compliance Officers in India
| Rishi Agrawal | Oct. 1, 2019
Rishi Agrawal explains the key challenges faced by Compliance Officers in India and why a digital compliance management solution is critical for companies.
Trimming The Vexatious Angel Tax: Where It Puts India On Growth Map
| Rishi Agrawal | Sept. 29, 2019
Even as government policy is to encourage startups, the tendency to get bogged down in fine details in compliance hurts the ecosystem. For a startup working from a home office or shared space, within its first year, it needs to obtain registrations under at least seven regulators and file a minimum of 18 returns to a maximum of 69 returns. While framing policy and compliance in India, the government should keep in mind that this segment is particularly sensitive to regulatory uncertainty, lack of clarity and frequent changes. More moves towards ease of doing business will unleash innovation from young entrepreneurs
TeamLease launches compliance aggregator app Rulezbook to simplify filings
| Sonal Khetarpal | Sept. 5, 2019
To simplify the regulatory and statutory universe, human resource company Teamlease has launched an AI-based compliance content aggregator app Rulezbook to help individuals and companies get updates on changes in compliances that are relevant to them in a language that is easy to understand, all in real time. Users can also register on their website www.teamleasecompliance.com to get personalised updates in their inbox to be on top of their game.
The Rulezbook App (available for download from the Google and Apple stores) can be personalised on the basis of an employer, policy maker or individual's interest, geography of operations, sectors and other details. It is available free of cost to all users.
Staffing firm TeamLease launches website to track rules on compliances
| Prachi Verma | Sept. 4, 2019
Teamlease Services has launched a compliance cloud -website called teamleasecompliance.com and an app RulezBook through its regulatory technology (regtech) subsidiary-Avantis. The website and app will help employers or companies in getting access and track rules and filings on compliances.
Teamlease launches web portal to help firms navigate compliance repository
| Somesh Jha | Sept. 3, 2019
TeamLease Services, a human resource firm, launched a web portal www.teamleasecompliance.com through which companies in India can keep track of a comprehensive set of compliance rules and regulatory filings at the state, central and local level. It also launched a mobile application, Rulezbook App, for a similar purpose.
In India, companies are required to take care of 58,726 compliances, involving 1,074 Acts related to labour, finance, taxation, secretarial, commercial and industry specific rules and it involves 3,069 annual filings. Of this, most compliances are related to the labour laws, both at the state and the central level.
“At present, there is no repository of this sort in the country. This is real-time in nature and companies can get regular updates on regulations and compliances delivered to them on e-mail based on their requirements. This is a free of cost service which will enable 'ease of doing business'," Rituparna Chakraborty, co-founder and executive vice-president at Teamlease Services said, while launching the product.
Startup founders cheer withdrawal of Angel Tax; say decision will boost ecosystem
www.forbesindia.com | HARICHANDAN ARAKALI | Aug. 25, 2019
“The pain felt by startups has been heard,” Rishi Agrawal, co-founder and CEO of Avantis Regtech, said in an email to Forbes India. “This will go a long way in easing the initial capital funding challenges for startups,” he said.
Taxing times: Compliance complexity a big challenge for businesses
https://www.financialexpress.com/ | Sumita Kale | Aug. 21, 2019
India’s tax challenge is not the rates per se, it lies in the complexity of compliance. Indian businesses struggle with more than 9,000 compliances and 600+ filings, and there have been more than 600 updates over the past year
Avantis Regtech sees compliance as a critical component in pharma sector to improve its performance
http://www.pharmabiz.com/ | Nandita Vijay | Aug. 19, 2019
Avantis Regtech, a SAAS solution provider, sees that pharma compliance is critical across drug manufacture to marketing. This is because compliance requirements reduces operational, reputational and financial risks.
Regulatory compliance is top on the agenda as Indian firms are looking to spend a higher proportion on capex for upgrading infrastructure for regulatory compliance over the next decade. Our web and mobile platforms, enable a transparent, accountable and efficient risk and compliance management.
Indian businesses are finding it increasingly challenging to cope with the increased regulatory compliance burden. The pharmaceutical sector is particularly hard hit. Our clients in pharma sector have reported significant improvement in the ease with which regulatory compliance is now being met as our web and mobile based platforms, enable a transparent, accountable, efficient real-time compliance management system, said Rishi Agrawal, co-founder and CEO, Avantis RegTech.
Opinion | A good nudge to relieve businesses of regulatory sludge
Live Mint | Sumita Kale | July 12, 2019
Now that India’s policymakers have taken on board Richard Thaler’s principle of nudge, it is time to get them moving faster on another track he has been advocating recently—removing sludge.
It’s time to change the way India does business
www.financialexpress.com | Rishi Agarwal & Sumita Kale | July 12, 2019
In her Budget speech, Nirmala Sitharaman put a greater spotlight on Ease of Doing Business through many measures—simplifying GST process, e-assessments for tax, interchangeable Aadhaar and PAN, etc. The government’s intent to further simplify procedures, reduce red-tape and make the best use of technology was clearly set out. However, there was no reference of a refreshing, revolutionary move that is already on the cards. A draft Cabinet note has reportedly been circulated last month on the National Ease of Doing Business Policy, where, for the first time, we see the government holding the bureaucrats accountable for the compliance requirements they place on businesses.
Why Ease Of Doing Business Is Vital For Indian Startup Ecosystem
Inc42 | Rishi Agarwal | July 3, 2019
The Indian startups have been rising mainly due to increasing aspirations of educated youth. Government initiatives like ‘Make in India’ and ‘Startup India’ are aimed at creating a conducive ecosystem for business growth and are working towards promoting ease of doing business in the country.
The changing nature of jobs
Economic Times | Sumita Kale | June 30, 2019
Most young Indians look for a permanent, preferably government, job, which incidentally also works well for the marriage market. Unfortunately, such jobs are really in short supply and not set to increase in the future. So often we see news like this – “more than 50,000 graduates, 28,000 PGs and 3700 PhDs have applied for 62 vacancies of messengers in the UP Police’s telcom wing, for which minimum eligibility is Class V”! The preference for a government job is due to the respectability it brings, and the assurance of a job for lifetime followed by a pension. One way to ease the stress is by meeting the aspirations of the youth through New Age jobs.
Budget 2019 | Five things the government can do to boost jobs
Moneycontrol | Sumita Kale | June 21, 2019
The new government wants a $5 trillion economy by 2024. For this, the Union Budgets need a strategy to achieve around 8 percent annual growth. A critical component will be creating 80-90 lakh new jobs annually, to accommodate not just additions to our workforce, but also their aspirations.
Digitisation agenda for the Budget
Economic Times | Sumita kale | June 20, 2019
We usually do not think of the government as a leader in any consumer space, so most people are surprised when they hear that India’s biggest e-commerce portal is IRCTC, not Amazon or Flipkart. What’s more interesting however is that internet ticket reservation, which we all take for granted now, began way back in 2002, a visionary move at a time when net access was nothing like it is today.
Opinion | Tackling regulatory cholesterol to reduce our farm dependence
Live Mint | Manish Sabharwal & Sumita Kale | June 3, 2019
Writer C.S. Lewis said, “You can’t go back and change the beginning but you can start where you are and change the ending." Indian farmers are poor because they have too many colleagues and the productivity programmed into these 45% of our workers generating 14% of our gross domestic product (GDP) represents a perpetual condemnation to poverty.
Meeting India’s aspirations through EoDB 3.0
Economic Times | Sumita Kale | May 29, 2019
All said and done, the challenge for any government lies in meeting the aspirations of its people. If we look back at how India’s aspirations have been changing, we find one sharp turning point coming in 1991. Check out http://indiabefore91.in/stories for a collection of memories of the license-permit raj, that will sound unreal now to most Indians. Today’s youth knows and cares little about the headaches of the past. Ready to take on the world, armed with cheap data packs on their mobile phones, it is the aspirations of these Indians that the government has to take on.
Why NYAY won’t end poverty: Promise of income without work represents a panicked pessimism about India and her people
The Times Of India | Manish Sabharwal | April 22, 2019
The 1971 surrender by Lieutenant General AAK Niazi in Bangladesh with 93,000 soldiers is a perennial source of Pakistani shame. But history is kinder to General Niazi’s legacy; he was cut off from his army, his troops were low on rations, the local population was hostile, and he presided over East Pakistan for only two days. In other words, he faced an impossible situation.
Why Nyuntam Aay Yojana won’t end poverty
Economic Times | Manish Sabharwal | April 22, 2019
Poverty is not like cancer where every malignant cell must be removed or will come back. The 1971 surrender by Lieutenant General AAK Niazi in Bangladesh with 93,000 soldiers is a perennial source of Pakistani shame. But history is kinder to General Niazi’s legacy; he was cut off from his army, his troops were low on rations, the local population was hostile, and he presided over East Pakistan for only two days. In other words, he faced an impossible situation.
Creating a place for poetry in business
Business Standard | Manish Sabharwal & Sumita Kale | April 16, 2019
Business Standard Entrepreneurs now require fewer mandays, fewer documents and fewer trees annually to start a business Manish Sabharwal & Sumita Kale Last Updated at April 17, 2019 00:54 IST Follow this columnist https://mybs.in/2X5Iwrt The political adage of campaigning in poetry but governing in prose means election season often involves dangerous populist promises. Populist politicians often suggest Scandinavian social democracies as inspiration but forget that the World Bank’s Ease of...
Back Again From Rules to Deals
The Economic Times | Manish Sabharwal | April 3, 2019
One reason India remains poor is because of its regulatory policy of ‘Show me the person and I will show you the rule’. This has led to the notion that rules in this country are made, tweaked and enforced according to the wealth/power/connection of individual under investigation. Before the 1991 reforms, entrepreneurs spent half their time in Delhi because a licence meant ‘hostages’, not ‘customers’.
View: Congress' Nyuntam Aay Yojana simply doesn’t work
The Economic Times | Manish Sabharwal | March 27, 2019
Poverty eradication needs moving Indians to more productive sectors. By Manish SabharwalCongress, this week, proposed the transfer of Rs 6,000 a month into the bank accounts of 50 million families comprising the poorest of the poor with its Rs 3.6 lakh crore minimum income scheme, Nyuntam Aay Yojana (NYAY), if voted into power.
It’s a wage crisis
Indian Express | Manish Sabharwal | Feb. 14, 2019
The debate around unemployment is unhelpful — since 1947, unemployment has bounced between 3-7 per cent of India’s labour force. But reconciling this mathematical accuracy with our painful poverty — it has bounced between 25-75 per cent of our population since 1947, based on your definition of needs, wants and desires — needs an understanding of the “self-exploitation” theory proposed by the Russian economist Alexander Chayanov in the 1920s. <
Diagnosing the job crisis
Indian Express | Manish Sabharwal | Jan. 18, 2019
What makes farm loan waivers attractive election rhetoric? Why did the new Madhya Pradesh government mention restrictions on inbound out-of-state migration? And will the 10 per cent economically backward reservation be enough when less than 1 per cent of new jobs are government jobs? I make the case that all three interventions are symptoms of one disease — India’s millions of murdered formal MSME employers.
Opinion | Changing the Indian state from bully to ally
Live Mint | Manish Sabharwal & Sandeep Agarwal | Dec. 13, 2018
The next avatar of our EODB programme must aim to decisively shift the Indian state from being an MSME bully to an MSME allyA dictionary suggests that a bully is “someone who frightens someone else” and an ally is “someone who helps and supports someone else”. Do our 63 million micro, small and medium enterprises (MSMEs) view the Indian state as a bully or an ally? <
Ludo vs Snakes & Ladders
Indian Express | Manish Sabharwal | Nov. 28, 2018
Ludo and Snakes & Ladders are both very different games even though both involve rolling a dice. Ludo is more laborious, but you know where you are going, and you will eventually get there. In Snakes & Ladders, the ladders create an illusion of accelerating progress, but the game has more snakes than ladders, the snakes are often longer than ladders, and progress is therefore volatile, patchy and unpredictable. I’d like to make that case that a) success in creating fertile habitats for formal job creation — ease-of-doing business (EODB) — is more like Ludo rather than Snakes & Ladders and the work of decades, b) India’s move from 142 to 77 in EODB rankings over the recent past is a self-fulfilling prophecy that should be celebrated more, and c) our urgent and unfinished agenda in EODB is regulatory rationalisation and civil service reform. Let’s look at each in more detail.
Ease of Show Business
Economic Times | Manish Sabharwal & Rishi Agarwal | Aug. 26, 2018
In 1948, Vallabhai Patel wrote to Jawaharlal Nehru, "The economic malaise the country has been suffering continues because we have been unable to secure the cooperation of Industry. Unfortunately, for India's youth and business, the 1955 Avadi Congress resolution ignored his concern and began and multi-decade discouragement of cooperation with industry that made India a hostile habitat for private Job Creation.
Avantis - Transforming Your Governance, Risk and Compliance Processes
CIO Review | Emmanuel Cristi Das | Oct. 6, 2017
Avantis bring highly flexible, scalable and secure technology which is user-friendly. The company has automation solutions in Compliance, Audit, ICFR and Loan against Shares Management. Avantis solutions help businesses migrate from ad-hoc, people-dependent and manual processes to institutionalized, process-oriented and automated processes.