The company said it had received 1,504 user reports for Facebook and 265 reports for Instagram through its Indian grievance mechanism between 16 June to 31 July.
India's online transactions surged during pandemic as traditional lenders turned cautious following rise in bad debt. Experts estimate digital lending to treble to $350 billion by 2023.
A bench of Chief Justice DN Patel & Justice Jyoti Singh asked MeitY to file reply to the application to stay IT rules and listed the matter for further hearing on 22 October.
Partner Indifi will offer credit to firms that advertise on Facebook. The loans will range from Rs 5 to Rs 50 lakh with 17 to 20% interest rates, potentially without collateral.
According to a BBC report, Facebook has dedicated a team of Afghanistan experts, who have knowledge of local context, to alert them of emerging issues on the platform.
Facebook rejected claims made by Sophie Zhang, a former data scientist at the firm, saying 'combatting coordinated inauthentic behavior is our priority'.
The funds, which co-founder Sumit Gupta plans to use to double his team in 6 months, comes as Indian policymakers debate status of digital currencies while govt is yet to take a final stance.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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