Deadline Extended For Suggestions On Draft E-Commerce Rules
Deadline extended for suggestions on draft e-commerce rules, earlier given time till July 6.
The government has extended the deadline for public comments on the proposed amendments to the Consumer Protection (e-Commerce) Rules, 2020 till July 21.
Earlier, time was given till July 6 for suggestions on this.
In a meeting convened by the Consumer Affairs Ministry on July 3, several e-commerce companies had appealed to the government to extend the deadline for comments.
The draft was released by the ministry on June 21. Under this, it will be possible to check the unfair activities of the e-commerce platform.
Companies will also have to appoint a Chief Compliance Officer / Grievance Redressal Officer.
It also includes a provision to compulsorily register all e-commerce companies desirous of doing business in India with the Department for Promotion of Industry and Internal Trade (DPIIT).
Companies will have to respond within 72 hours to a government agency seeking information.
Last week, top companies including Amazon, Tata Group, Flipkart, Paytm, and Snapdeal approached the government requesting to extend the deadline till the end of this month or at least 20 days.
This was also a demand of several industry lobby groups.
E-commerce firms had also told the government that the draft e-commerce rules need to be revisited and also expressed concern that the proposed changes in the rules would have a negative impact on their business models.
Stock market today: Fast start of the stock market, Rally in these stocks including Bajaj Finance.
The stock market had a good start on Tuesday. BSE’s main index Sensex opened higher at 52,874.85 points. Earlier, the main index closed at 52880 points.
Rally stocks include one and a half dozen companies including Bajaj Finance, HDFC Bank, Ultra tech cement, Maruti. Similarly, Nse Nifty 50 was also trading up 26 points at 15860.
Let us tell you that the capital of investors has increased by Rs 2.19 lakh crore in two trading sessions amid a boom in the stock markets.
With this, the market capitalization (market cap) of BSE-listed companies has reached a new record high of Rs 2,31,74,726 crore.
The 30-share Sensex of the BSE rose 395.33 points, or 0.75 percent, to 52,880 on Monday.
Sensex recorded gains for the second consecutive trading session. The Sensex had gained 166.07 points on Friday.
With this, the market capitalization of BSE-listed companies has increased by Rs 2,19,283.79 crore to its all-time high of Rs 2,31,74,726 crore in two days.
Siddharth Khemka, head of retail research, Motilal Oswal Financial Services, said, “The overall sentiment has turned positive amid signs of a reduction in the number of cases of Covid-19 infection and increasing availability of the vaccine.”
