Category:

Risk Management

RBI issues master direction to ensure security of digital payments

The Master Direction lays down guidelines for internet banking, mobile payments, card payments, customer protection and grievance redressal mechanism.

“In view of the proliferation of cyber-attacks and their potential consequences, regulated entities should implement, except where explicitly permitted/ relaxed, multi-factor authentication for payments through electronic modes and fund transfers, including cash withdrawals from ATMs/ micro-ATMs/ business correspondents, through digital payment applications,” the RBI said.

read more

Boeing warns pilots in wake of deadly Indonesian 737 crash

In the bulletin, the company lists various causes that can trigger a loss of control, which include malfunctions and incorrect actions by pilots. Preventing such concurrences “involves the active participation of both pilots,” it said.

“Active monitoring skills are essential to facilitate early detection of conditions that can lead to an airplane upset,” the company said. An upset occurs when a plane flies too slowly or banks, climbs or descends too steeply.

read more

U.K. to set up Green Finance hubs to support banks and insurers to invest in renewables

The goal is to “equip banks with the latest environmental and scientific intelligence to help companies of all sizes,” according to the statement. Researchers will aim to create products and services that help tackle climate change and its effects, including tools to measure storm and flood-risks.

read more

Covid-19 variant N440K spreading more in southern states”Study

“We now have emerging evidence that N440K is spreading a lot more in southern states. Closer surveillance is needed to understand its spread properly. Accurate and timely detection of new variants that may show greater infectivity or worse clinical symptoms, including immune escape, will be extremely important to preempt disastrous consequences,” said Dr Rakesh Mishra, Director, Cellular and Molecular Biology and corresponding author on the study

read more

France to boost cyberdefence after hospital malware attacks

The hospital in Villefranche-sur-Saone, located north of the city of Lyon, said its phone system went down during a cyberattack on Monday that forced a preemptive shutoff of the internet service and other networks to keep the ransomware from spreading.

The hospital also had to postpone surgeries planned for the following day. but said patient safety was preserved. The Dax hospital in southwestern France reported a similar attack last week. Without phones and computers working, health care workers had to use pen and paper for record keeping. The French cybersecurity agency is helping to investigate the attacks.

read more

PM2.5 air pollution claimed 54,000 lives in Delhi last year: study

The study noted that the damage is equally worrying in other Indian cities.

”An estimated 25,000 avoidable deaths in Mumbai in 2020 have been attributed to air pollution. Bengaluru, Chennai, Hyderabad and Lucknow estimated an approximate 12000, 11000, 11000, and 6700 avoidable deaths respectively due to polluted air,” said Noting that the air pollutant levels in Delhi remained almost six times above the prescribed WHO limits of 10 μg/m3 annual mean, the study said the estimated air pollution-related economic losses were USD 8.1 billion (Rs 58,895 crore), which amounts to 13 percent of Delhi’s annual GDP.

read more