The government, however, dismissed allegations of any kind of surveillance on its part on specific people, saying it 'has no concrete basis or truth associated with it whatsoever'.
'The striking down of the use of Aadhaar by private companies implicitly calls for the deletion or erasure of all personal data vested in the servers of the private service providers.'
India has to put in place legislation and rules which seek more clarity and transparency from technology companies. Domestic and global companies that use consumer behaviour data to enhance addictive behaviour must be scrutinised and controlled. Currently the intermediary guidelines focus mostly on content management and grievance redressal. However, the underlying software engines that influence online consumer behaviour need oversight, too.
Protect yourself and minimise such frauds by following these simple rules
This whirlwind of activity only confirms that rushing around creating an impression of pompous busy-ness is not the same thing as solving problems, argues Mitali Saran.
Aadhaar is a creation of the previous Congress-led government.
The banking system's liquidity slipped into deficit for the first time in the current financial year (2023-24) due to the imposition of the Incremental Cash Reserve Ratio (I-CRR) for banks and outflows from goods and services tax (GST) payments, according to dealers. Reserve Bank of India (RBI) data shows it injected Rs 23,644 crore on August 21. The last time liquidity was in deficit was on March 27, when the RBI injected Rs 45,575 crore.
Users well-versed in privacy laws or those concerned with their data would be worried; it could well be that many of us have already accepted the end user agreement without ado, points out Ashish Narsale.
'The government's proposal to store citizens' data including Aadhaar data under its Digital India initiative on cloud is violative of the citizens' human rights because the cloud is admittedly beyond India's jurisdiction.'
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
'If Rakesh Sinha introduces the bill, but it does not pass the Rajya Sabha in six years, then the bill will lapse.'
After a 6.5-hour debate, the upper house clears the bill. Amit Shah said the bill is not anti-Muslim and Indian minorities have nothing to fear from its passage.
"I condemn in the strongest terms the ordinance passed by the Seattle City Council. Caste discrimination simply doesn't exist now," Niraj Antani, the first Hindu and Indian-American state senator in Ohio's history, said.
Data localisation, an overarching theme across recent government policy proposals, has been a thorny issue with industry
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The Monsoon Session of Parliament will begin on August 5 and the Bill, after its introduction, is likely to be referred to the Standing Committee of Parliament for examination.
The Union Cabinet approved amendments to 'The HIV and AIDS Bill, 2014' drafted to safeguard the rights of people living with HIV.
Biometric authentication is based on the unscientific and questionable assumption that there are parts of human body that does not age, wither and decay with the passage of time.
India does not have a stringent privacy or data protection Act.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
Microblogging site Twitter's explanations to a parliamentary panel on showing Ladakh as part of China are inadequate and the act amounts to criminal offence attracting imprisonment of seven years, committee chairman Meenakshi Lekhi said on Wednesday.
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Shares of telecom services providers - Reliance Industries (parent of Reliance Jio), Bharti Airtel, and Vodafone Idea - have shed up to 23 per cent so far in the current calendar year as growth in the wireless subscriber segment begins to plateau amid higher tariffs and rising costs of smartphones. By comparison, the benchmark S&P BSE Sensex, and sectoral index BSE Telecom have dipped 1.8 per cent, and 12.6 per cent, respectively, ACE Equity data shows. However, analysts expect the trend to reverse soon as telecom services providers focus on the next leg of growth -- fixed broadband (FBB) segment.
The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "...enormous amounts of consumer data is being generated and leveraged upon by a few entities (the so-called Big Tech) by virtue of their huge customer base. "Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come," Das said at the Global Fintech Fest 2022.
The user cannot expect his or her privacy to be secured.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
Former chairman of the UIDAI Nandan Nilekani, elucidates how Aadhaar could become the spine for alternative banking and could replace government services with cash benefits.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
'The pandemic had a significant impact on child trafficking.' 'With economic hardships, traffickers exploited the situation to target desperate parents and children.'
It also provides that no preliminary enquiry will be required for registering a criminal case and an arrest under this law would not be subject to any approval.
TRAI on Wednesday asked service providers to ensure international mobile roaming (IMR) service is kept 'inactive' by default for all subscribers, and is activated only on explicit request by consumer, as the regulator revamped the framework to protect users from unintentional usage and consequent 'bill shocks'.
The passage of this major legislation comes ahead of the general election due early next year.
Pushed by Congress vice president Rahul Gandhi, the government looks set to shortly bring ordinances on two anti-corruption bills along with three other legislations which could not be passed during the just-concluded Parliament session.
Technology giant Apple has informed its customers in India that it will no longer store their card information on file and will not be accepting payments made by debit cards and credit cards for purchases or subscriptions on the App store or other Apple services. The decision has been taken by the US-based company in view of the Reserve Bank of India's (RBI's) card data storage guidelines, which will kick in from July 1. The deadline for implementing these norms was extended twice.
The reshuffle had politics at its heart, so the biggest complement of new ministers, both Cabinet rank and below, came from UP, which will see assembly elections in a few months.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
In a projection of India's growing maritime prowess, Defence Minister Rajnath Singh on Monday addressed the top naval commanders onboard the country's first indigenous aircraft carrier INS Vikrant in the Arabian Sea and witnessed a mega wargame, amid China's increasing military posturing in the Indian Ocean region.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
Congress engaging in a 'false show of jubilation', said Amit Shah.
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