Applications for LAMP Fellowship 2025-26 are now open. Apply here. The last date for submitting applications is December 21, 2024
Mr. Vaghul, our first Chairperson, passed away on Saturday. I write this note to express my deep gratitude to him, and to celebrate his life. And what a life he lived!
|
Mr. Vaghul and I at his residence |
Our past and present Chairpersons, |
Industry stalwarts have spoken about his contributions to the financial sector, his mentorship of people and institutions across finance, industry and non-profits. I don’t want to repeat that (though I was a beneficiary as a young professional starting my career at ICICI Securities). I want to note here some of the ways he helped shape PRS.
Mr Vaghul was our first chairman, from 2012 to 2018. When he joined the board, we were in deep financial crisis. Our FCRA application had been turned down (I still don’t know the reason), and we were trying to survive on monthly fund raise. Mr Vaghul advised us to raise funds from domestic philanthropists. “PRS works to make Indian democracy more effective. We should not rely on foreigners to do this.”. He was sure that Indian philanthropists would fund us. “We’ll try our best. But if it doesn’t work, we may shut down. Are you okay with that?” Of course, with him calling up people, we survived the crisis.
He also suggested that we should have an independent board without any representation from funders. The output should be completely independent of funders’ interest given that we were working in the policy space. We have stuck to this advice.
Even when he was 80, he could read faster than anyone and remember everything. I once said something in a board meeting which had been written in the note sent earlier. “We have all read the note. Let us discuss the implications.” And he could think three steps ahead of everyone else.
He had a light touch as a chairman. When I asked for management advice, he would ask me to solve the problem on my own. He saw his role as guiding the larger strategy, help raise funds and ensure that the organisation had a strong value system. Indeed, he was the original Karmayogi – I have an email from him which says, “Continue with the good work. We should neither be euphoric with appreciation or distracted by criticism.” And another, "Those who adhere to the truth need not be afraid of the consequences".
The best part about board meetings was the chat afterwards. He would have us in splits with stories from his experience. Some of these are in his memoirs, but we heard a few juicier ones too!
Even after he retired from our Board, he was always available to meet. I just needed to message him whenever I was in Madras, and he would ask me to come home. And Mrs. Vaghul was a welcoming host. Filter coffee, great advice, juicy stories, what more could one ask for?
Goodbye Mr. Vaghul. Your life lives on through the institutions you nurtured. And hope that we live up to your standards.
Madhavan
On June 6, 2022, the Ministry of Electronics and Information Technology released the draft amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (IT Rules, 2021) for public feedback. The IT Rules were notified on February 25, 2021, under the Information Technology Act, 2000 (IT Act). The Ministry noted that there is a need to amend the Rules to keep up with the challenges and gaps emerging in an expanding digital ecosystem. In this blog post, we give a brief background to the IT Rules, 2021 and explain the key proposed changes to the Rules.
Background to the IT Rules, 2021
The IT Act exempts intermediaries from liability for user-generated content on their platform provided they meet certain due diligence requirements. Intermediaries are entities that store or transmit data on behalf of other persons and include telecom and internet service providers, online marketplaces, search engines, and social media sites. IT Rules specify the due diligence requirements for the intermediaries. These include: (i) informing users about rules and regulations, privacy policy, and terms and conditions for usage of its services, including types of content which are prohibited, (ii) expeditiously taking down content upon an order from the government or courts, (iii) providing a grievance redressal mechanism to resolve complaints from users about violation of Rules, and (iv) enabling identification of the first originator of the information on its platform under certain conditions. It also specifies a framework for content regulation of online publishers of news and current affairs and curated audio-visual content. For an analysis of the IT Rules 2021 please see here.
Key changes proposed to the IT Rules 2021
Key changes proposed by the draft amendments are as follows:
Comments on the draft amendments are invited until July 6, 2022.
