Who regulates OTT, Fintech, e-commerce, content?

Over-the-top (OTT) services, fintech, e-commerce, and content regulation — which ministries oversee these areas, and are there any overlaps? With the new telecom bill being tabled in the Lok Sabha, these questions have created a fresh buzz. News18 brings you the answers to address any doubts.

OTT service providers like Netflix, Amazon Prime, and Disney+Hotstar are already subject to regulations outlined in the Information Technology Rules, 2021, notified by the Ministry of Electronics and Information Technology (MeitY).

The Ministry of Information and Broadcasting retains authority over certain aspects of content regulation for OTT platforms, particularly concerning issues like national security, public order, and morality.

However, the Telecom Regulatory Authority of India (TRAI) has already clarified that it has no power to regulate OTT services.

Also, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) regulate different areas of the fintech sector. While the finance ministry might not directly regulate every aspect of the sector, it does play a crucial role in shaping the overall financial ecosystem and providing guidance to other regulatory bodies like the RBI and SEBI. Its involvement in policy formulation and setting regulatory priorities ultimately impacts the way the fintech sector functions.

In terms of e-commerce, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce Ministry governs most aspects. From policy creation to enforcement, as well as consumer protection, promoting transparency, and expanding India’s global trade footprint through e-commerce export, almost everything comes under its responsibility checklist.

The Telecommunications Bill was tabled in the Lok Sabha by Union Minister for Communications Ashwini Vaishnaw on Monday. Its primary objective is to establish a framework for the development, expansion, and operation of telecommunication services and networks while addressing associated matters. Its focus on the Digital Bharat Nidhi, delegation of legislative powers, and regulations primarily pertains to telecommunications infrastructure, spectrum allocation, and services rendered by telecom companies. Additionally, it talks about the appointment process of the TRAI chairman and members. News18