ETtech Top 5: India's social media scrutiny, IT firms under cyber attack & moreSocial media regulatory scrutiny to increase further

What’s the news?

Social media, content, and gaming apps are grappling for a way to deal with heightened regulatory scrutiny as Indian courts step in to stem the flood of so-called objectionable content on these platforms, in one of the world’s fastest growing internet markets.

Content companies such as Facebook, Google-owned YouTube as well as Chinese apps such as TikTok and Bigo Live are expected to face even more regulatory scrutiny in the future.

Why is the scrutiny increasing?

TikTok and Bigo Live have been accused of allowing sexually explicit content to be beamed on their platform. TikTok was banned earlier this week and is currently not available for download on Apple’s App Store or Google Play Store.

ETtech Top 5: India's social media scrutiny, IT firms under cyber attack & more
Regulatory sandbox should cover big cos too 

What’s the news?

RBI’s draft framework to enable regulatory sandbox (RS) for fintech innovation has been well-received by a majority of fintech players, even as some have suggested a few tweaks in order to make it even more comprehensive.

What are the proposed changes?

The regulators should also have opened the sandbox for established companies as well and not just startups since it would have widened the scope of innovations, said Mandar Agashe, founder of Pune-based Sarvatra Technology. He said a lot of fintech companies would have benefited from these findings.

Fintech firms also raised concerns on the restrictions of not letting crypto and initial coin offering (ICO) startups to participate in the regulatory sandbox, claiming that RBI’s stand against cryptocurrency technology is “not well informed.”

ETtech Top 5: India's social media scrutiny, IT firms under cyber attack & more
Mobile phones, consumer electronics drive Reliance Retail growth

What’s the news?

India’s largest retailer Reliance Retail’s cellphone and consumer electronics retailing business crossed the $5-billion revenue mark in the year to March, underscoring the breadth of its market presence.

Sales in these two categories — which account for about a third of the total — through Reliance Digital and Reliance Jio stores more than doubled to Rs 39,170 crore in FY19 from Rs 15,154 crore in FY18, according to the company’s investor presentation made to analysts.

Why this matters?

Reliance Retail now has the scale in consumer electronics and mobile phones to be the only brick-and-mortar retailer that can take the fight to e-commerce companies Walmart-owned Flipkart and Amazon, analysts say.

Reliance is also planning an entry into e-commerce that will leverage its brick-and-mortar presence stores and its digital capabilities through Reliance Jio.
ETtech Top 5: India's social media scrutiny, IT firms under cyber attack & more
Indian IT firms under cyber attack

What’s the news?

After Wipro, cyber attackers may have targeted IT majors Infosys, Capgemini and Cognizant to access data of third-party company resources.

Whom are the attackers targeting?

The attackers are targeting companies that, in one form or another, have access to a significant amount of third-party company resources, and/or companies that can be abused to conduct gift card fraud. Capgemini has confirmed that it faced a pattern of attack similar to Wipro’s, but took quick remedial action.

ETtech Top 5: India's social media scrutiny, IT firms under cyber attack & more
India’s 5G use cases

What’s the news?

India will come up with its own 5G specific use cases that could be applicable to other markets and it will ensure that those use cases are supported by the company, Samsung said.

What’s the plan?

India has different sets of needs and the focus of the government is to develop 5G use cases around farming, education and next-gen manufacturing. Samsung is working with the telecom department to help devise the 5G roadmap for the country. The government aims to kickstart the deployment of ultra-high speed 5G networks in the country by 2020.