India's exports are becoming less vulnerable to changes in world demand and exchange rates, according to a publication titled 'Re-examining Narratives: A Collection of Essays', penned by chief economic advisor (CEA) V Anantha Nageswaran and his team. The publication pointed out that this conclusion has been drawn from the fact that there has been a decrease in the income elasticity of exports to 3.44 during 2009-2022, from 5.67 during 1991-2008, and in the inverse price elasticity of exports to 0.4 from 2.7. While a decline in elasticities is favourable in the presence of downside risks such as a decline in global demand and an appreciation of exchange rates, it may not be beneficial during boom periods.
The number of frauds in the banking sector during the first half of the current financial year has increased substantially to 14,483 cases, although the amount involved is only 14.9 per cent of the previous year's amount, according to a RBI report. The report on Trend and Progress of Banking in India 2022-23, underlined the need to protect the banking system and the payments system from the risks of fraud and data breaches emanating from cyber threats. As many as 14,483 frauds were reported involving an amount of Rs 2,642 crore in the first half of current financial year, as compared to 5,396 cases (Rs 17,685 crore) in the same period a year ago.
Is it permissible in law for a statute to have unbound and limitless discretionary authority, the Bombay high court asked on Friday while hearing a bunch of petitions against the recently amended Information Technology (IT) Rules against fake news.
'I have made a new rule: When I'm having my morning tea, a guy keeps the harmonium on my bed.' 'So while I'm writing what my plan for the day is, that harmonium is in front of me and I do riyaz of 40-50 minutes.'
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
A buoyant equity market, coupled with an improved performance of mutual funds (MFs) on the returns chart, has heightened retail investors' appetite for equities. In the past few months, equity MF schemes have seen a surge in fresh investments through both lump sum (one-time investments) and systematic investment plan (SIP) routes. During the August-September 2023 period, equity MF schemes recorded net lump sum investments of Rs 35,270 crore, compared to just Rs 5,550 crore in the previous three months, according to data from the Association of Mutual Funds in India (Amfi).
Minister of State for Electronics and IT Rajeev Chandrasekhar said the government has asked Apple two questions: whether their devices are safe, and if so the reason for the alert was sent to the Opposition members.
Most market analysts are expecting the momentum to shift towards 'quality' and 'growth' stocks in 2024 after the outperformance of 'value' stocks over the past three years. 'Value' stocks are generally well-established companies with steady profits that are trading at a discount to what they are intrinsically worth. Companies in sectors such as commodities, industrials, commercial vehicles and public sector units (PSUs) fall in this bracket.
The Centre on Wednesday told the Bombay high court it was extending till July 10 its earlier statement that it won't notify its fact-checking unit to identify fake news against the government on social media, even as two new petitions were filed challenging the recently amended IT Rules.
The Rs 17,000 crore-share buyback programme of India's top software services exporter Tata Consultancy Services (TCS) will open on December 1. The buyback, where investors can sell to the company their shares at an offer price of Rs 4,150 apiece, will close on December 7, TCS said in a regulatory filing on Tuesday. The information technology bellwether is aiming to repurchase up to 4.09 crore shares (1.12 per cent of the total equity share capital) at Rs 4,150 apiece in a buyback valued at Rs 17,000 crore.
Apple has incorporated India's Navigation with Indian Constellation (NavIC) GPS system in its iPhone 15 models, Union minister Rajeev Chandrasekhar said on Thursday. NavIC, which is powered by ISRO satellites, will be available along with other GPS systems of Galileo and Glosnass in iPhone 15. On September 12, Apple unveiled iPhone 15 Pro and iPhone 15 Pro Max models, and they will be available for purchase later this month.
The Delhi high court said on Friday the purpose of Right to Information (RTI) Act is to bring in transparency, and if any information has been sought, it should be made public unless exempted from disclosure under the law.
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
The Bombay high court on Thursday said that no matter how laudable or high the motives are while framing rules, if the effect of a rule or law is unconstitutional then it has to go.
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
The guild said that already multiple laws exist to deal with content that is found to be factually incorrect.
The Lok Sabha ethics committee has cited the threats India faces from State and non-State cyber actors to indict Trinamool Congress MP Mahua Moitra for sharing her log-in credentials with businessman Darshan Hiranandani, noting that he has residency rights in Dubai and has close relatives who are foreign nationals.
India's import of personal computers, including laptops and tablets, shot up in September by 42 per cent to $715 million, reversing a year-long downward trend after the government announced it would impose import restrictions on such electronic hardware items in August. The rise in such imports were led by the largest source China (33 per cent) and Singapore (188 per cent), according to data released by the commerce department. On August 3, the Centre had announced it was planning to bring seven products in the information technology hardware segment, such as personal computers, micro computers, mainframe computers, super computers, computer systems and data processing units under the 'restricted' label.
The incident took place on the night of November 1. Following the incident, hundreds of BHU students had held a protest on the campus and demanded that the entry of outsiders be banned.
Byju Raveendran, the founder and chief executive officer of the beleaguered edtech firm Byju's, said the company credited all pending January salaries to employees over the past few days. This was communicated to the employees in another letter sent on February 4. Byju's has about 15,000 employees. "I know you were told that you would get your salaries by Monday.
In a bid to restrain the circulation of videos and images depicting violence and damage to properties in the state, the Manipur government in an order said such dissemination will be dealt with severely and booked as per law.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
The single-judge bench of Justice Krishna S Dixit which dictated the operative portion of the judgement also imposed a cost of Rs 50 lakh on Twitter and ordered it to be paid to the Karnataka State Legal Services Authority within 45 days.
The Bombay high court on Wednesday said it was troubled by the fact that the recently amended IT Rules to curb online fake news against the government offer no recourse to a person whose social media post has been removed or account suspended after being flagged by the proposed Fact Checking Unit (FCU).
'Mumbai main branch (SBI headquarter) has all the data ready-made. It doesn't take even an hour to out the data from the system.'
The guidelines come after director general of police RR Swain said that posting any content on social media that promotes disharmony will be a criminal offence in Jammu and Kashmir.
A 23-year-old IT professional has been arrested for allegedly entering a women's washroom wearing a burqa in a popular mall in Kerala and recording their videos on his mobile phone.
Kharge will take care of IT & BT along with existing portfolio, while Large & Medium Industries Minister M B Patil has been given the additional charge of Infrastructure Development.
Justice Subramonium Prasad said petitioner lawyer Sanjay Hegde is a "good friend" of his and that the pleas be listed before some other bench.
Even as banks and finance companies are reporting record-high earnings, their weighting in the benchmark National Stock Exchange Nifty50 Index has seen a downward trajectory. Investors expect a stronger performance from other sectors in the new year. Currently, banking, financial services and insurance (BFSI) companies collectively hold a weighting of 34.5 per cent, down from 36.7 per cent at the end of December 2022 and a record high of 40.6 per cent at the end of December 2019. This represents the sector's lowest weighting in the index since December 2021 when it stood at 33.7 per cent.
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
India is headed for general elections early next year, and the DIA is expected to be legislated only after the 2024 polls and the formation of the government.
'Students of Tier-II and Tier III engineering colleges in the south may find 2023 to be one of the toughest years for getting jobs.'
Addressing a huge rally in Maharashtra's Nagpur on the occasion of the Congress' 139th foundation day, he said unemployment in the country has reached its highest point in the last 40 years.
'We will have a strong exit as our third quarter is strong.'
Cyber insurance policies cover ransomware attacks and the ensuing damages, including ransom payments, data restoration costs, forensic and other first-party costs, and loss of profit due to business interruption.
Amid outrage over a plan to give powers to its arm Press Information Bureau to police fake news on social media, Union Minister Rajeev Chandrasekhar on Tuesday said that the government will hold discussions next month with stakeholders before the proposal is implemented.
A division bench of Justices Gautam Patel and Neela Gokhale sought to know what constitutes a government business under the amended rules as it referred to the recent political developments in Maharashtra where "one party is moving to the other".
The Bombay high Court on Tuesday said the recently amended Information Technology (IT) Rules against fake news on social media give "unfettered power" to a government authority in the absence of "guidelines and guardrails".
Financial services and consumer durable companies accounted for most of the selling by foreign portfolio investors (FPI) in the last fortnight of February. FPIs sold finance stocks worth Rs 2,263 crore and consumer durable stocks worth Rs 1,111 crore, according to data collated by Prime Infobase. Information technology (selling worth Rs 708 crore), metals and mining (Rs 694 crore), and power (Rs 497 crore) were the other sectors where overseas funds sold shares.
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