Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
If RBI's recommendations are finalised, it will give more teeth to the existing fair practice code
In one of the biggest internet security breaches, a hacker broke into Sony's PlayStation video game online network and may have obtained access to personal data of about 77 million users.
The digital audience knows the difference between healthy suggestions, which are welcome, and a downright breach of privacy, which is abhorred.
The rupee bounced back by 26 paise to end at 59.93 against the American currency on Friday as exporters and some banks sold dollars.
The security firm predicted cybercriminals will focus their attacks more on data stored in the cloud versus data stored on the network.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
Districts along the Siang river in Arunachal Pradesh have been put on high alert for possible flash floods.
India is due to post industrial output later in the day, with analysts expecting a return to modest growth, and is due to post wholesale and consumer prices data next week amid expectations vegetable prices have eased.
While noting there needed to be a balance between the two fundamental rights, the Srikrishna panel stated there was an inherent conflict. "However, disclosure of information from public authorities may lead to private harms being caused. It is thus important to recognise that, in this context, there is a conflict of fundamental rights, between transparency and privacy," the report stated.
The fall in reserves was due to a sharp fall in foreign currency assets.
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
'First sold to us as a voluntary scheme for government subsidies, Aadhaar has since sprouted multiple heads and tails, horns, fangs, warts, and a nasty case of halitosis.' 'It is unacceptably intrusive, our data is hilariously unsafe, and fraud, corruption, and criminality is rampant,' says Mitali Saran.
Reliance Jio saw fall in speeds from 7.2 mbps in September to 6 mbps in October, according to CLSA report.
"The Monetary Policy Committee recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture," the RBI said in its fifth bi-monthly monetary policy for this fiscal.
'It is entering growth territory on a month-on-month basis.'
Absence of comprehensive data protection and privacy laws will be barriers in the government's digitalisation drive.
Taking note of the concern by petitioners Karmanya Singh Sareen and Shreya Sethi, the high court wished to examine the issue and asked the concerned authorities to file their reply by September 14.
In a communication to the ministry of electronics and information technology, the messaging service said it was committed to protecting the privacy of its over 400 million users in India.
Among top losers that dragged down key indices were Infosys, TCS, Reliance, SBI, Tata Steel and ITC, falling up to 2.15 per cent.
Rupee closed at 61.86 against the dollar on Tuesday.
The domestic currency had lost 49 paise to close at a three-month low of 60.55 on Thursday on capital outflows after the US Fed trimmed its monthly bond buying programme by another $10 billion.
Now that you have already downloaded mobile wallets and all set to go cashless/digital with your payments to the local grocer, cabbie, maid, etc, here's what you must watch out for, says Tripti Rai.
The NSE Nifty settled at 10,234.65, down 225.45 points, or 2.16 per cent.
The combined Left parties drew a blank in the polls to the assembly which they had run with an overwhelming majority for 34 long years, with their vote share dwindling to a mere 5.47 per cent in 2021.
In the last fortnight alone (September 1-17), the foreign institutional investors have made a net buy of whopping Rs 12,442 crore ($2.67 billion) in the Indian stock market, as per the data available with market regulator Securities and Exchange Board of India.
Swine flu has claimed the lives of 34 more persons raising the toll to 875 across the country even as the number of affected people breached the 15,000 mark on Tuesday.
The state government asked the local administration to shift people from low-lying areas in Vadodara if needed as water entered into houses in several localities.
Strong month-end demand for the US currency mainly from oil importers along with currency futures expiry related purchases predominantly weighed heavily on the forex market and haunted investor sentiment.
Don't accept pop-ups or prompts for software unless you're armed with web scanner software such as AVG's free LinkScanner.
Government bonds yields are likely to trade in a range, owing to profit booking.
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
As we wave goodbye to 2019, we look back at the highlights of the year, in the numbers that made it memorable.
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The gains in the rupee masked a rising sense of caution across markets ahead of the results of elections in several states. Delhi was the latest to hold assembly elections on Wednesday.
The official data on April-June GDP will be released on August 31.
The government has asked all central and state departments and ministries to stop using private email services for official communication and instead use indigenous services provided by NIC, to prevent "misuse" or "leakage" of classified data.
Neither the CAA nor the proposed NRC are important enough to stake the well-being of so many or stake economic growth. Getting growth back on track is more important, notes Mahesh Vyas.
'More than 114 cases have been registered for spreading fake messages, rumours and fake news on WhatsApp.' 'People on various groups are reporting such crimes.' 'The most heartening development is people are now not tolerating such things.'
The rupee resumed higher at 64.40 a dollar from Friday's close of 65.24 and touched a low of 64.54 at the interbank foreign exchange market.
'When an enemy country is looking for information to sabotage a system from a remote location, they can access your data, they can stop the functioning of our power plants, they can stop the functioning of critical systems in the network.' 'It is very important that we should have full control of everything in the network.' 'Most Indian companies buy from China only because of the kind of incentive they are getting.' 'By doing so, these Indian companies are exposing themselves to dangers in the coming years.'
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