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Twitter denied Union Electronics and IT and Communications Minister Ravi Shankar Prasad access to his own account on the micro-blogging site.  Though the Twitter account of the minister was visible for public viewing, Twitter did not permit anyone authorized to access this account to log in or make any post.  About an hour later, Twitter unlocked access to the account by posting a warning message to the minister’s account stating. IT RULE OF INDIA ON BLOCKING Rule 4 (8) of the newly notified Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 clearly stipulates that, whenever content that does not belong to the user is shared on a social media platform the social media intermediary shall ensure that prior to removing or disabling access, it has provided the user who has shared such content with a notification explaining the action being taken and the grounds or reasons for such action. Slamming the move, Prasad said, “Twitter’s ...

Pakistan continues to remain on Financial Action Task Force or FATF's grey list even as it is still to implement its action plan.  The country has to work towards complete implementations till the next FATF plenary meet that will take place in which will take place from October 17 to October 22.  Pakistan was put on the FATF grey list in June 2018. Being on the grey list is a signal that money in the country is being used for financing terrorism.  This impacts foreign investment flow in the country impacting the economy.  FATF The FATF is a global watchdog for money laundering and terror financing.  The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society.  As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. The organisation was established by the G-7 Summit that was hel...

The Gujarat Maritime University signed a Memorandum of Understanding (MoU) with the International Financial Services Centres Authority in GIFT City to promote the Gujarat International Maritime Arbitration Centre (GIMAC).  This will be the first centre of its kind in the country that will manage arbitration and mediation proceedings with disputes related to the maritime and shipping sector. The GIMAC will be part of a maritime cluster that the Gujarat Maritime Board (GMB) is setting up in GIFT City at Gandhinagar. There are over 35 arbitration centres in India.  However, none of them exclusively deals with the maritime sector. The arbitration involving Indian players is now heard at the Singapore Arbitration Centre.