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UPI adding up to 60 lakh new users every month, global adoption surge
According to the latest National Payments Corporation of India...
Bombay HC asks social media firms to take prompt action against deepfakes of NSE’s MD
The court said social media firms are mandated by the Information...
Indian banks take about Rs 70,000-crore hit due to frauds in last three fiscals
The extent of loss in fraud cases reported by scheduled commercial banks (SCBs) for 2015-16, 2016-17 and 2017-18 was Rs 16,409 crore, Rs 16,652 crore and Rs 36,694 crore, respectively, Minister of State for Finance Shiv Pratap Shukla said in a written reply quoting RBI data
UIDAI slams Aadhaar ‘fear-mongering’, says helpline number can’t steal data
Last week, a French security expert who goes under the pseudonym Elliot Alderson and describes himself as the “worst nightmare” of the UIDAI, in a tweet had raised alarm on the presence of a UIDAI contact number in contact list of mobile phone users without their consent.
Laptop Battery fire in checked luggage could bring down an Airliner: Study
Regulators had thought that single lithium battery fires would be knocked down by the flame-retardant gas required in passenger airliner cargo holds. But tests conducted by the U.S. Federal Aviation Administration found the suppression systems can’t extinguish a battery fire that combines with other highly flammable material, such as the gas in an aerosol can or cosmetics commonly carried by travelers.
Concerns mount over Data Privacy Guidelines set by Genetic-Testing companies
Under the guidelines, genetic-testing companies must obtain “express consent” before sharing an individual’s data with third parties. They can’t hand it over to employers, insurance companies, educational institutions, or government agencies without being legally compelled
Atlantic Hurricane Season had early start, but fewer Storms Are Expected
Twelve named storms are likely to form in 2018, fewer than last year’s 17 and below the 1981-2010 average, according to a forecast Thursday from Colorado State University. That reduces the chance of Gulf of Mexico disruptions for energy and agriculture. But the outlook is a slight increase from July’s 11 and comes as the Atlantic Basin is about to enter its most active period.
Data protection bill deterrent for businesses who wilfully do wrong, says Justice B Srikrishna
The proposed legislation contains a provision for the ‘Right to be Forgotten’, which is in line with European data privacy laws such as General Data Protection Regulation. While the draft bill does not insist on personal data of residents of India to be stored only in India, it has made an enabling provision where the government can notify categories of personal data as critical data, which would be only stored
in India.
Fintech Payments market prone to cyber-attacks,City of London & PWC Report
According ther eport’s estimate,by 2020, around 720 billion transactions are projected to occur through the use of digital payment methods in the Indian market which will be largely driven by development of Unified Payment Interface technology
New Anti-Graft Law To Punish Bribe Givers With A 7-Year Jail Term
For bribe takers, the amended law has increased the punishment to a minimum of three years of imprisonment, which may extend to seven years, besides fine.The Act has included commercial organisation into its ambit also.
SAS supports Insurers to meet IFRS 17 compliance
“The disparate nature of incumbent accounting systems, actuarial tools and data sources, conventionally with weak workflow and integration capabilities, will pose a significant hurdle for insurers to overcome in complying with IFRS 17, particularly as many grapple with IFRS 9 compliance in tandem,” said Cubillas Ding, Research Director at Celent
India to hold Top Spot for Economic Growth but Oil poses Risk
“Relatively higher interest rates, high oil prices, uncertainties on the exchange rate, gradually building up political risks from the 2019 elections – are all headwinds that can slow down the growth momentum,” noted Samiran Chakraborty, senior economist at Citi.