Category:

Technology

Kris Gopalakrishnan appointed first chairperson of Reserve Bank Innovation Hub

The RBIH shall create an eco-system that would focus on promoting access to financial services and products, RBI said, and added “this will also promote financial inclusion”.

The Hub will collaborate with financial sector institutions, technology industry and academic institutions and coordinate efforts for exchange of ideas and development of prototypes related to financial innovations.

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Canada promises big fines for companies that breach new privacy law

The draft law, which must be adopted by Parliament, says Canadians who feel their data has been improperly gathered or shared can turn to the country’s Privacy Commissioner and demand the information be deleted.The law also means businesses would have to be transparent about how they use automated decision-making systems like algorithms and artificial intelligence to make significant recommendations about individuals.

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Cyber attacks up multi-fold in current environment: India”s cyber security coordinator

“In such unprecedented times, you mentioned two Cs – the challenge of corona and challenge of cyber. Actually, at the perch which I sit, there are 3 Cs. The third ”C” of course is on our northern border, which is another challenge that we are facing.

“In such an environment, cyber-attacks have gone up multi-fold. There are 4 lakh malware, we find every day. 375 cyber-attacks take place,” Pant said at an event organised by largest private sector lender HDFC Bank.

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Munich Re and Porsche form JV, to offer innovative manufacturing, software and financial mangement expertise

Torsten Jeworrek, member of Munich Re’s Board of Managementsaid,“With the FlexFactory, we and our partners have created a future-oriented platform for opening up new markets, which addresses a central challenge of modern production. Our cooperation once again underlines Munich Re’s innovative power and solution competence as a risk manager and financing expert for Industry 4.0.”

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Cybersecurity is top business worry in ‘age of risk’: Marsh & McLennan CEO

“CEOs like to get things done and say it’s finished,” he said. “Cyber is a never-ending phenomenon. It will continue for the rest of all of our careers.”

Climate change and the culture of remote working are the other top risks cited by companies, Glaser said. Climate is less immediate than cybersecurity because it is developing slowly and its impact, through such catastrophic events as larger wildfires and more powerful hurricanes, will increase over the next five years or more.

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Tsunami-hit reactor in northeast Japan gets final approval to restart

Onagawa was the closest among Japan’s nuclear stations to the epicentre of the magnitude-9 quake in March 2011, which triggered a tsunami that killed nearly 20,000 people as well as causing the worst atomic disaster since Chernobyl in 1986.

The station was swamped by the tsunami, but survived with its cooling system intact, saving its reactors from the threat of meltdowns similar to those that occurred at Tokyo Electric Power’s Fukushima Daiichi station to the south.

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