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Risk Management

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UIDAI says Aadhaar an identification, not profiling tool

UIDAI recently announced a new concept of “Virtual ID which Aadhaar-card holder can generate from its website and give for various purposes, including SIM verification, instead of sharing the actual 12-digit biometric ID. The Virtual ID, a random 16-digit number, will give the users the option of not sharing their Aadhaar number at the time of authentication.

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Cyber incidents & Business interruption dominate risk landscape for India Inc in 2018: Allianz

-Evolving nature of risk, and rise in cyber-related incidents, means business interruption ranks as top threat for companies globally, according to 1,900+ risk experts from 80 countries

-India included for the first time in global survey, saw cyber incidents top the list with potential “cyber hurricane” events and tougher data protection rules shaping cyber risk environment for year-ahead. Crisis response crucial for mitigation

-Rising FDI and new entrants into India has put Market Developments in third place as businesses grapple with intensified competition and rising M&A activities

-Other risks include Legislation and Regulation in light of India’s push towards liberalisation as well as Natural Catastrophes, which are both tied at fourth place

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