The Kotak Panel Report on Corporate Governance has made a sincere attempt to revamp the role and responsibility of IDs. At best, the Report skims the surface, and avoids dealing with ground-level problems and issues. Corporate India embraced the forced presence of IDs in board rooms with considerable discomfort and uneasiness, but have now reconciled to live with this forever. The Kotak Panel’s recommendations have suggested that half of the boards of listed companies should be IDs, as against the present norm of one-third. The demand for IDs will therefore increase substantially; but, supply is woefully inadequate.

Publication: The Hindu Business Line

Date : September 20, 2019

An official statement from the corporate affairs ministry said the move was also aimed at fostering compliance as well as to address the emerging issues affecting businesses. The panel led, by corporate affairs secretary Injeti Srinivas, will examine if offences under the statutes dealing with companies and LLPs could be reclassified as ‘civil wrongs’. The panel will also explore the feasibility of bringing new schemes such as settlement mechanism and deferred prosecution agreement—a kind of amnesty subject to the defendant meeting certain conditions, within the ambit of the company law. It will also try to address any shortcomings in the LLP Act, as per the mandate given to the panel.

Publication : Mint 

Date : September 18, 2019

With many stores expanding their online retail presence and e-commerce giants like Amazon dominating share in the overall retail market, it can seem difficult for brick-and-mortar stores to thrive. Despite this, in-store shopping is far from “dead,” as there are benefits to physical storefronts that e-commerce simply can’t provide. If you want your store to succeed in today’s digital landscape, you’ll need to follow today’s best practices and strategies. Based on their expertise and experience, the members of Young Entrepreneur Council explain what strategies brick-and-mortar stores can use to continue to flourish.

Publication : Forbes

Date : September 18, 2019

Even as an umbrella ecommerce policy is on the anvil, several ministries are working in silos to frame their own set of rules, pushing to the margins the industry’s ask for a consolidated set of guidelines for the sector. Commerce and industry minister Piyush Goyal had said in June that a national ecommerce policy would be ready within 12 months. However, the ministry of electronics and information technology (MeitY) and the consumer affairs ministry have started parallel consultations to frame their own rules to regulate ecommerce companies. While MeitY has set up a panel to regulate non-personal data, the consumer affairs ministry has floated draft guidelines for consumer protection.

Publication : The Economic Times 

Date : September 18, 2019

Online shopping giant Amazon is betting that some customers would rather use cash. The e-commerce company announced “Amazon PayCode” on Wednesday, which lets shoppers buy something online, then show up at one of 15,000 Western Union locations in person to pay in cash. That option was already available in 19 countries, but is rolling out in the U.S. in coming weeks, the company said. It also unveiled “Amazon Cash” — way for users to load cash into their Amazon balance in person, so they can make online purchases later. That is now available in over 100,000 cash-loading locations nationwide.

Publication : CNBC 

Date : September 19, 2019