DATA SECURITY CONCERNS
Rise & rise of secondary deals; advantage desi data centres
Happy Friday! Total funding raised by Indian startups fell in the first half of 2024, but late-stage activity showed signs of revival, as per data. Decoding this and more in today’s ETtech Morning Dispatch.
Social media companies list out worries as Centre readies data protection rules
Social media platforms have said that undoing behavioural tracking of children and targeted advertisements are among the biggest concerns they have with the new data law the government is prepping. The companies are voicing their concerns as rules of the Digital Personal Data Protection (DPDP) Act will be released soon.
Satellite images reveal the presence of Chinese spy bases in Cuba. Should the US be concerned?
A report by a think-tank based out of the US analyzed satellite images from Cuba which revealed the presence of Chinese spying facilities. This is a direct threat to the US. Law makers have urged the Biden administration to tackle this threat.
NITI Aayog calls for policy and legal reforms to regulate use of facial recognition technology (FRT) in India
In a report, prepared by the Vidhi Centre for Legal Policy on behalf of the Aayog, it had proposed imposing liability and the extent of liability arising from any harms or damages caused by the use of facial recognition technology (FRT) system. Besides, the Aayog has suggested a need for an ethical committee to address issues pertaining to transparency, accountability, and biases emanating from the use of such systems in India.
Digi Yatra policy should spell out all rules on passenger info deletion, suggests study
A study by NITI Aayog recommends that the Digi Yatra policy clearly outline rules for deleting passenger information post-travel, amid privacy concerns over user data. The policy states that facial biometrics are deleted 24 hours after the passenger's flight, but deletion rules for other data must be specified. Frequent cybersecurity audits, algorithmic audits, and ongoing monitoring are also advised to ensure data security and system reliability.
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Proactive measures against cyber vulnerabilities are vital: Here’s how companies can get started
CEOs and CTOs should prioritize autonomous patching plans to enhance security. Collaboration between security and IT is crucial for effective patching. Analyzing results and ensuring vulnerability compliance are essential. Autonomous patching boosts risk management and operational efficiency, reducing costs and maintaining compliance in a dynamic cybersecurity landscape.
Centre's panel on exam reforms to engage with parents, students; take stock of concerns
The Education Ministry's exam reforms panel, led by former ISRO chief R Radhakrishnan, will consult with parents and students to address concerns over exam processes amid controversies surrounding NEET and NET exams. During its initial meeting, the committee reviewed NTA operations, focusing on developing a secure, flexible, and tamper-proof testing system.
"Disappointing...": BJP leader Rajeev Chandrasekhar on NEET UG exam issue
BJP leader Rajeev Chandrasekhar expressed disappointment over students being disadvantaged in the NEET UG exams but praised the government's steps to ensure exam integrity. The NTA, which conducted the exams, faced criticism for alleged irregularities. The Ministry of Education formed a high-level committee, led by Dr K. Radhakrishnan, to recommend reforms for transparent and fair exam conduct, data security, and NTA functioning. The committee will submit its report in two months.
Centre's seven-member high-level panel formed to oversee NTA's functioning to hold meet, sources
The Centre's high-level committee overseeing the National Testing Agency (NTA) is set to meet on Monday to address transparency and operational issues. This committee, led by Dr. K. Radhakrishnan, will submit its recommendations on reforming the examination process and improving data security to the Ministry of Education in the next two months. The NTA, which conducted the NEET-UG exams, has faced criticism and allegations of irregularities, leading to protests and demands for its disbandment.
Former RBI DG Mundra asks regulators to 'introspect' after recent instances of unease, rulings
Former RBI Deputy Governor S S Mundra called for introspection among financial regulators at an Assocham event, citing instances of proposals causing unease in the industry.
Cybersecurity firm Kaspersky denies it's a hazard after the US Commerce Dept bans its software
The Moscow-based company - whose CEO Eugene Kaspersky is Russian - said in a statement that the Commerce Department's decision would not affect its ability to sell and promote its cyber security products and training in the U.S. Kaspersky said the government had based its decision on the "geopolitical climate and theoretical concerns" rather than independently verifying if there was a risk.
Apple poised to launch its late start in the AI race with ambitions to overtake the early leaders
The widely anticipated display of AI to be embedded in the iPhone and other Apple products will be the marquee moment at an event that traditionally previews the next version of software that powers the company's hardware lineup.
SBI investors lose Rs 1 lakh crore as PSU bank tanks 13%
SBI shares plunged by 13%, wiping out Rs 1.07 lakh crore from market cap amid a broader sell-off in PSU bank stocks, impacted by lower-than-expected victory margins in the Lok Sabha elections. Expert views remain mixed, with bullishness on private banks.
PSU bank stocks tumble up to 20% as early counting trends lower than exit poll predictions
PSU bank stocks dropped up to 20% on BSE as BJP-led NDA led in early election trends, defying exit polls. Central Bank, Union Bank, Canara Bank, PNB, and others saw significant declines. Analysts favor private banks like ICICI and HDFC amid political uncertainty. Shares of the State Bank of India cracked 19%. Meanwhile, Punjab National Bank, Bank of Baroda, Canara Bank, and Bank of Maharashtra also shed between 17-20%.
Chinese companies may be permitted to dilute stakes in JVs with Indian partners
While decisions will continue to be made on a "case-by-case" basis with a focus on security concerns, sources suggest that this move could enable companies like Xiaomi and other prominent Chinese firms to expand their presence in India.
US is slowing AI chip exports to Middle East by Nvidia, AMD
In October, the Commerce Department added much of the Middle East to chip export restrictions that originally focused on China and a handful of other foreign adversaries. That meant companies needed a special US government license to ship cutting-edge semiconductors and chipmaking tools to countries such as Saudi Arabia and the UAE.
US stocks bounce back ahead of long weekend
The Nasdaq index surged over 1% and was heading for its fifth consecutive week of gains, while the Dow Jones Industrial Average faced a potential first weekly loss in five after hitting a two-week low on Thursday. Trading activity is expected to be muted as the U.S. equity market is closed on Monday for Memorial Day.
Elon Musk wants to keep this Windows feature always off and why he called it 'Black Mirror'
Microsoft CEO Satya Nadella introduced "Recall," an AI tool that continuously takes screenshots to enhance productivity by providing a photographic memory-like capability. Elon Musk criticized the tool for privacy concerns, calling it a "Black Mirror episode." Despite Microsoft's assurances of robust privacy settings, the tool has sparked significant public backlash and ongoing debates about ethical AI use.
Embracing Industry 4.0: Navigating business transformation trends in the digital age
Post-pandemic, the focus on Industry 4.0, Circular Value Chains, Autonomy via Edge Computing, and Demand-Driven Digital Supply Chains reshaped global business dynamics. India's leadership in AI, cybersecurity, and sustainable manufacturing practices highlights its commitment to digital transformation.
Lok Sabha elections 2024: What women of Delhi want from their leaders
Women in Delhi actively participate in politics, with a voter turnout nearly matching men. Their influence includes perspectives, priorities, and life experiences. Concerns about safety, public facilities, affordable transport, inflation, and employment persist. Calls for increased economic opportunities and reforms in education are growing.
Fraud concerns raise red flags for India's booming tiny IPOs
Earlier this year, regulators clamped down on equity markets financing to cool pre-IPO sale frenzy. Still, the nation’s market for first-time share sales remains vibrant, with 102 deals priced since the start of 2024.
3% mutual fund accounts have ‘KYC Hold’ status: AMFI
After mutual fund KYC (know your customer) rules came into effect from April 1, around 3% of MF accounts have ‘KYC Hold’ status, stated the Association of Mutual Funds of India (AMFI) on Thursday.
TikTok, ByteDance sue to block US law seeking sale or ban of app
TikTok and ByteDance file lawsuit to block law forcing divestiture or ban, citing First Amendment violations. Concerns over Jan. 19 deadline and national security issues. Ongoing conflict between U.S. and China over tech.
View: How ABDM could revolutionise India's healthcare system
India's healthcare system aims to improve care outcomes through the Ayushman Bharat Digital Mission. ABDM facilitates seamless access to medical histories, personalized treatments, and expanded healthcare access. Challenges include inadequate digitization and the need to build trust in digital health systems.
'My college has abandoned me', says Muslim student after California university cancels her valedictorian speech
USC has canceled its valedictorian speech by a Muslim student, Asna Tabassum, citing safety concerns amid tensions over the Middle East conflict. USC Provost Andrew Guzman stated the decision aimed to protect campus security, not restrict freedom of speech. Tabassum challenged this, questioning if safety was the sole reason for revoking her invitation. The decision followed heightened tensions and concerns about disruptions at the upcoming graduation ceremony. Tabassum, a biomedical engineering major, criticized USC for "caving to fear and rewarding hatred," alleging she was targeted for her views on human rights.
Maldives visit of Chinese survey ship could trigger Indian Ocean security concerns
A Chinese research ship, Xiang Yang Hong 03, is set to arrive in the Maldives on Thursday, following a visit to the Indian Ocean in January. The ship, owned by a research institute, spent over three weeks surveying waters outside India, the Maldives, and Sri Lanka's exclusive economic zones. India has voiced concerns about China's presence in the Indian Ocean, even if they do not belong to the military.
Eying China, US proposes 'know your customer' cloud computing requirements
The Biden administration is taking a series of measures to prevent China from using US technology for artificial intelligence, as the burgeoning sector raises security concerns.
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