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.
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.
While tenants can't escape the impact of rising rentals entirely, they can adopt a few strategies to reduce the impact.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
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).
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 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.
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.
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.
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 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.
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.
'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.'
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).
Justice Subramonium Prasad said petitioner lawyer Sanjay Hegde is a "good friend" of his and that the pleas be listed before some other bench.
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.
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.
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.
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.
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.
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.
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
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".
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.
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.
As Tendulkar had never given permission to the company to use his name and photographs and it was leading to maligning of his image, he instructed his aide to take legal action, the complaint said.
The government will investigate a claim that WhatsApp accessed the microphone of smartphone users while the phone was not in use, Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said on Wednesday.
'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.'
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
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.
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.
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".
'We will have a strong exit as our third quarter is strong.'
The Tata group is close to acquiring Wistron's $600-million factory in southern Karnataka by next month, according to reports. The Wistron unit makes iPhones for the Cupertino-based company. Sources said that Wistron will continue to provide the Tatas technical know-how on assembling the phone and keep back some personnel during the transition process.
'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.'
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.
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.
