What’s in Today’s Article?

• Deepfake Content Regulation Latest News
• Regulation of Deepfakes in India
• Background
• Government Report on Deepfakes: Key Concerns and Stakeholder Insights
• Deepfake Content Regulation FAQs

Deepfake Content Regulation Latest News

• The Ministry of Electronics and Information Technology (MeitY) submitted a status report to the Delhi High Court highlighting key concerns about deepfakes. 
• These include the rise of deepfake content targeting women during state elections, increasing AI-driven scam content, the need for better enforcement rather than new laws, and the absence of a uniform definition for "deepfake."
• Deepfake technology creates realistic videos, audio, and images. It can change a person’s face, voice, and actions. This can mislead people and spread false information.

Regulation of Deepfakes in India

• In India, there is no specific law directly addressing deepfakes.
• Existing provisions under the Information Technology Act (IT Act) and other laws can be used to address their misuse, such as defamation, impersonation, and copyright infringement. 

Existing Legal Framework

• Information Technology Act, 2000:
  • Section 66D: Penalizes cheating by impersonation using a computer resource, which could apply to deepfakes used for fraudulent impersonation. 
  • Section 66E: Addresses violation of privacy, which could be relevant if deepfakes are used to share private content. 
  • Sections 67, 67A, and 67B: Prohibit and punish the publication or transmission of obscene or sexually explicit material. 
  • Defamation Laws: Deepfakes used to spread misinformation or damage someone's reputation can be challenged under defamation laws. 
  • Copyright Act, 1957: Copyright holders can initiate legal proceedings against individuals who use copyrighted material without permission to create deepfakes, with penalties outlined in Section 51. 

Background

• Several petitions have been filed in the Delhi High Court seeking regulation of deepfakes and AI-generated content.

Three petitions Filed 

• Rajat Sharma's Petition (Journalist, India TV Editor-in-Chief)
  • Seeks regulation of deepfake technology.
  • Requests blocking of public access to apps enabling deepfake creation.
  • Argues that deepfakes pose a threat to society by spreading misinformation and disinformation, undermining public discourse and democracy.
• Chaitanya Rohilla's Petition (Lawyer)
  • Calls for regulations on AI usage, addressing concerns over its unregulated deployment.
• Kanchan Nagar's Petition (Model)
  • Seeks a ban on non-consensual commercial deepfakes.
  • Advocates for fair compensation for original artists in commercial advertising.

Formation of Committee

• In November 2024, the court instructed the Centre to appoint members to the committee.
• The Union Ministry of Electronics and Information Technology (MeitY) had announced the formation of a committee on November 20, 2024, to address this issue.
• A nine-member MeitY committee, formed in November 2024, met stakeholders on January 21, 2025.

Government Report on Deepfakes: Key Concerns and Stakeholder Insights

• Rising Threats from Deepfakes
  • Deepfakes targeting women during state elections.
  • Increasing AI-generated scam content, particularly post-elections.
  • Lack of a uniform definition for "deepfake."
• Call for AI Content Regulation
  • Stakeholders emphasized mandatory AI content disclosure, labeling standards, and grievance redressal mechanisms, focusing on malicious actors rather than creative uses of deepfake technology.
• Debate on Intermediary Liability
  • MeitY's panel proposed mandatory compliance for intermediaries regarding deepfake content.
  • Stakeholders cautioned against over-reliance on intermediary liability frameworks, advocating better investigative and enforcement mechanisms instead of new regulations.
    • Intermediary liability frameworks determine the extent to which intermediaries can be held liable for content on their platforms. 
    • The frameworks range from holding intermediaries entirely responsible for the content posted on their platform to complete immunity.
  • A representative from X stressed the need to distinguish between deceptive and benign AI content.
• Challenges in Deepfake Detection
  • The Data Analysis Unit (DAU), part of the Meta-supported Misinformation Combat Alliance, highlighted:
    • Deepfakes targeting women during elections.
    • A post-election spike in AI-driven scam content.
    • Audio-based deepfakes are harder to detect.
    • Stakeholders underscored the need for collaboration and standard detection frameworks.
• Law Enforcement and Regulatory Actions
  • The Indian Cyber Crime Coordination Centre (I4C) has been tasked with gathering data on deepfake-related cases from law enforcement agencies.
  • Proposed solutions include awareness campaigns via platforms like YouTube.
• Ongoing Consultations and Next Steps
  • MeitY has requested three more months from the Delhi High Court to complete its consultations.
  • The ministry is yet to consult victims of deepfakes and is collaborating with the Ministry of Information and Broadcasting to gather their inputs.
  • Discussions so far have focused more on reactive measures rather than preventive solutions.

Deepfake Content Regulation FAQs

Q1. What are deepfake regulations in India?

Ans. The government emphasizes content labeling and transparency to regulate deepfake misinformation and misuse.

Q2. Why is the Delhi HC involved in deepfake regulation?

Ans. The court reviews legal measures to curb deepfake threats, ensuring public awareness and accountability.

Q3. How does labeling help regulate deepfake content?

Ans. Labels inform viewers about AI-generated content, reducing misinformation and enhancing digital safety.

Q4. What penalties exist for deepfake misuse in India?

Ans. Legal consequences include fines and imprisonment under IT laws and the Indian Penal Code.

Q5. What role does AI play in detecting deepfakes?

Ans. AI tools analyze inconsistencies in videos and images to identify deepfake manipulations.

Source: IE | inc42 | LC

What’s in Today’s Article?

• India’s Bioeconomy Latest News
• Bioeconomy
• Growing Footprint of India's Bioeconomy
• BioE3 Policy: Boosting India's Bioeconomy
• ther Initiatives & Policy Push
• Challenges and Way Forward
• India’s Bioeconomy FAQs

India’s Bioeconomy Latest News

• The India BioEconomy Report 2024, released by the Department of Biotechnology, estimates India's bioeconomy to be worth over $165 billion, contributing 4.2% of GDP. 
• The report highlights significant growth potential, projecting the sector to reach $300 billion by 2030 and $1 trillion by 2047.

Bioeconomy

• Bioeconomy refers to the industrial use of biological resources (plants, animals, microorganisms) and natural biological processes for producing goods and services.

Traditional and Expanding Applications

• Biological resources have long been used in healthcare, pharmaceuticals, and agriculture.
• Their use is now expanding to fuels, textiles, plastics, construction materials, and chemicals due to their renewability, cost-effectiveness, and sustainability.

Sustainable Alternatives

• Ethanol, produced via fermentation of sugarcane or corn, is replacing hydrocarbon-based fuels.
• Biotechnology enables biomedicines and synthetic biology, allowing the design of microorganisms with specific traits.

Scope for Rapid Growth

• The economic use of biological resources is still in its early stages but has vast untapped potential.
• With advancements in biotechnology and sustainability, the bioeconomy is expanding rapidly.

Growing Footprint of India's Bioeconomy

• India’s bioeconomy nearly doubled in five years, from $86 billion (2020) to $165 billion (2024).
  • Growth has surpassed the initial target of $150 billion by 2025.
• The number of bioeconomy companies increased by 90%, from 5,365 (2021) to 10,075 (2024), and is projected to double by 2030, creating 35 million jobs.

Sector-Wise Contributions

• The sector now contributes 4.25% to GDP with a CAGR of 17.9% in the last four years.
• Industrial sector (biofuels, bioplastics) contributed $78 billion (~47%).
• Pharma sector contributed 35%, with vaccines as the key driver.
• Fastest-growing segment (2024): Research & IT, including biotech software, clinical trials, and bioinformatics.

Regional Disparities

• Five states (Maharashtra, Karnataka, Telangana, Gujarat, Andhra Pradesh) generated over two-thirds of bioeconomy value.
• Eastern & Northeastern regions contributed less than 6%.

Challenges & Future Prospects

• Sustaining high growth will require innovation, scaling-up incentives, and policy reforms.
• Addressing regional imbalances is crucial.
• While India’s bioeconomy (4.2% of GDP) is comparable to China & the US, it lags behind Spain & Italy (20% of GDP).

BioE3 Policy: Boosting India's Bioeconomy

• Launched in 2024, the BioE3 policy (Biotechnology for Economy, Environment, and Employment) aims to make India a global hub for bio-manufacturing and R&D in biotechnology.

Key Objectives

• Strengthen bio-manufacturing in areas like:
  • Bio-based chemicals & enzymes
  • Functional foods & precision biotherapeutics
  • Marine & space biotechnology
  • Climate-resilient agriculture
• Foster a network of universities, research institutions, start-ups, and industries.

Implementation

• Assam became the first state to adopt the BioE3 framework, signaling nationwide expansion.
• New initiatives include Bio-AI Hubs, Bio Foundries, and Bio-Enabler Hubs for integrating advanced tech into biomanufacturing.
• Address policy bottlenecks to unlock the sector’s full potential.

Other Initiatives & Policy Push

• New initiatives include Bio-AI Hubs, Bio Foundries, and Bio-Enabler Hubs for integrating advanced tech into biomanufacturing.

Boosting Startups & Innovation

• India's biotech startups grew from 50 in 2014 to over 10,075 in 2024.
• The BioSaarthi mentorship program was launched to support startups with global mentorship, leveraging Indian diaspora expertise.
• Public-private partnerships have fueled sectoral expansion and innovation.

Breakthroughs in Biotechnology

• Development of Nafithromycin, India’s first indigenous antibiotic for respiratory diseases.
• Successful gene therapy trials for hemophilia.
• Completion of India’s whole genome sequencing project, mapping 10,074 individuals across 99 communities to revolutionize precision medicine.

Space Biotechnology & Future Prospects

• Collaboration between the Department of Biotechnology and ISRO to advance space biology and medicine.
• Biotechnology will play a key role in astronaut health and space research as India prepares for its first space station.

R&D Investment Surge

• India's Gross Expenditure on R&D (GERD) doubled, from ₹60,196 crore in 2013-14 to ₹1,27,381 crore in 2024.
• This funding push underscores the government’s commitment to scientific research and innovation.

Challenges and Way Forward

• India has strong existing capabilities in some biotech fields, making commercialization easier.
• However, regulatory challenges remain, especially in genetically modified (GM) crops, which could enhance agricultural productivity.

Recommendations for Future Growth

• Establish a National Bio Economy Mission.
• Implement single-window regulatory mechanisms to streamline biotech innovations.

India’s Bioeconomy FAQs

Q1. What is India’s bioeconomy?

Ans. It involves industrial use of biological resources for pharmaceuticals, biofuels, and biotech innovations.

Q2. How fast is India’s bioeconomy growing?

Ans. It grew from $86 billion in 2020 to $165 billion in 2024, targeting $1 trillion by 2047.

Q3. What is the BioE3 policy?

Ans. Launched in 2024, it boosts biotech R&D, bio-manufacturing, and sustainable innovations.

Q4. Which sectors drive India’s bioeconomy?

Ans. Key contributors are biofuels, pharmaceuticals, biotech startups, and research-driven sectors.

Q5. What challenges hinder bioeconomy growth?

Ans. Regulatory issues, regional disparities, and limited commercialization of biotech innovations remain key hurdles.

Source: IE | PIB

What’s in Today’s Article?

• Banking Laws Latest News
• Understanding the Banking Laws (Amendment) Bill, 2024
• Key Features of the Bill
• News Summary
• Conclusion
• Banking Laws (Amendment) Bill, 2024 FAQs

Banking Laws Latest News

• Both the Houses of the Parliament have passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees.

Understanding the Banking Laws (Amendment) Bill, 2024

• The Banking Laws (Amendment) Bill, 2024 was introduced in the Lok Sabha on August 9, 2024, and passed on December 3, 2024. 
• The Bill amends five major laws governing India’s banking sector:
  • Reserve Bank of India Act, 1934
  • Banking Regulation Act, 1949
  • State Bank of India Act, 1955
  • Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980

Key Features of the Bill

• Four nominees for deposits:
  • Deposit holders can now appoint up to four nominees, either successively or simultaneously. Previously, only one nominee was allowed.
• Updated definition of ‘fortnight’:
  • For calculating cash reserves, banks will now follow fixed calendar periods—1st to 15th or 16th to month-end—instead of the old Saturday-to-Friday format.
• Extended director tenure in co-operative banks:
  • Directors can now serve for 10 consecutive years, up from the earlier limit of 8 years.
• Dual directorship allowed in certain co-operative banks:
  • A director of a central co-operative bank can now serve on the board of a state co-operative bank if they are a member.
• Increased threshold for ‘substantial interest’:
  • The definition now includes shareholdings worth up to ₹2 crore, replacing the outdated ₹5 lakh cap set decades ago.
• Unclaimed funds broadened:
  • Unclaimed dividends, shares, and bond payments older than seven years will be transferred to the Investor Education and Protection Fund (IEPF).
• Bank autonomy in auditor pay:
  • Banks will now decide the remuneration of their auditors instead of the RBI and Central Government doing so.

News Summary

• The Rajya Sabha passed the Bill on March 26, 2025, amid both support and criticism. Over 20 MPs took part in a four-hour discussion, which highlighted different aspects of the banking system’s health and governance.
• Government’s Stand:
  • Finance Minister Nirmala Sitharaman defended the Bill, saying it brings necessary reforms. She made the following key points:
    • Public sector banks posted a record ₹1.41 lakh crore profit in FY 2023–24.
    • Non-Performing Assets (NPAs) have significantly reduced.
    • Over 912 bank fraud cases involving wilful defaulters are under probe by the Enforcement Directorate (ED).
    • Loan write-offs are accounting practices, not waivers—banks still pursue recovery.
• Opposition’s Concerns:
  • Wilful Defaulters & Write-offs
    • The INC highlighted that ₹87,000 crore owed by 50 wilful defaulters—including names like Mehul Choksi and Rishi Agarwal—were written off, while poor and small borrowers face harsh actions.
  • Need for Deeper Scrutiny
    • Opposition criticised the practice of amending five laws at once without detailed review, calling for a Joint Parliamentary Committee to examine the Bill.
  • Concerns About NPAs
    • Opposition said Indian banks are burdened with ₹10 lakh crore in NPAs over five years, largely due to a small group of high-profile defaulters.
  • Issues in Rural and Cooperative Banks
    • Opposition raised concerns about the rising financial frauds in cooperative banks (over 4,000 cases in five years) and outdated tech infrastructure. 
    • They also questioned the static ₹2 crore cap and suggested linking it to inflation.
• Government’s Counterpoints
  • The government said the Bill gives new strength to the banking sector and pointed to improvements under the government post-2014, including widespread financial inclusion and direct benefit transfers.

Conclusion

• The Banking Laws (Amendment) Bill, 2024 represents a major update in India's banking regulation, addressing everything from customer convenience to board governance. 
• While the provisions are largely forward-looking, concerns about oversight, transparency, and the handling of large-scale NPAs remain.

Banking Laws (Amendment) Bill, 2024 FAQs

Q1. What is the Banking Laws (Amendment) Bill, 2024 about?

Ans. It updates five banking laws to improve flexibility, governance, and customer service.

Q2. How many nominees can now be assigned to a bank deposit?

Ans. Up to four nominees can now be appointed for a single account or locker.

Q3. What changes were made to co-operative bank governance?

Ans. Director tenures have been extended to 10 years and dual directorships are now allowed under certain conditions.

Q4. What is the new threshold for ‘substantial interest’?

Ans. The cap has been raised from ₹5 lakh to ₹2 crore.

Q5. What concerns did the Opposition raise?

Ans. They flagged issues like massive NPAs, willful defaulter write-offs, and lack of deeper review of the Bill.

Source: IE | PIB