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E-KYC has been a Game Changer in Adding More Investors to Securities Market
#KRajaraman #Telecom #secretary
E-KYC – a Game Changer
The evolution of traditional banking obstacles, shifting consumer preferences and increasing competition are creating new challenges for banks. As banks brace for a new wave of digital disruption, they need to adopt technology to improve customer experience and future-proof their business models. E-KYC has played a tremendous role in adding investors to the securities market as one can open a De-mat, trading account in less than 15 minutes. E-KYC has not only provided ease of doing business, but in fact, it has provided ease of investing. When we speak about the advantages of the adoption of various technologies, examples of SEBI, is probably the first regulator to follow Regtech, with good use of technology and which is helping in decision making. It is all about how data analytics has helped in preventing cases relating to insider trading, money laundering, and alert generation.
As the technology is prospecting advances in technology have propelled increased cost efficiency and data capacity as well as greater computing power. Experts have welcomed the innovators of the country to be a part of Innovation Sandbox, as part of which anyone can apply to SEBI for accessing data available with the exchange and once a committee undergoes the application, data is provided, ensuring its usage in an ethical manner. Secondly, the importance of regulatory sandbox, saying that entities opting for regulatory sandbox are provided with a lot of relaxations from existing regulations. Sebi-registered entities are eligible for testing in the regulatory sandbox, the entity may apply either on its own or in partnership with any other entity. Sources said that it is a much smoother process for registering complaints through SCORES. The exchange records about 50,000 complaints annually and about 90% of complaints are registered online.
Today's Headline in NewsHours
0:00 IntrBy VARINDIA | 145 views
CYBER DEFENSES ARE THE REAL DEFENSE IN THE COMPLEX TECH WAR OF ATTRITION
#Microsoft #cyberattacks #ransomware
Cyber Defenses against Tech War
2021 has already broken records for cyberattacks, with an all-time high of 93% increase of ransomware and over 70% in all cyberattacks in the US in just 12 months. Offenses have reached a record of ransomware victims, with an unknown scope of attacks mostly in the US, and some victims in Europe as well. The ransomware attack, apparently conducted by the Russian speaking group REvil, represents a catastrophic combination of 2021’s most notorious cyberattack trends, supply chain attacks and ransomware. As many as 1,500 businesses around the world have been affected by the biggest ransomware attack to be recorded in history, the chief executive of American IT firm Kaseya has said.
Software has become a weapon and the data the prisoners of war. The hackers have demanded $70 million to restore all the affected businesses' data. Among the businesses affected are supermarkets in Sweden, IT companies in Germany and the Netherlands, and schools and kindergartens in New Zealand were knocked offline. The hackers have used the VSA software developed by Kaseya which helps companies remotely monitor their computer systems. The company said it sent a detection tool to nearly 900 customers. Ransomware criminals break into networks and sow malware that cripples networks on activation by scrambling all their data. Victims get a decoder key when they pay up. Sources said, REvil level examines the financial records of the victim – insurance claims if they can find them – before they encrypt the data. They threaten to dump the stolen data online, unless paid, which has become another source of income and a nightmare for the victim.
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2:03 #Microsoft recommends #Azure Users to Update PowerShell to Patch RCE Flaw
2:57 #GST collection comes low for first time after 8 months
3:59 #Blackstone to buy SpheraBy VARINDIA | 116 views
Though there are big losses in the start-ups, they never stop to raise capital
#startup #Hackers #ThirdCovidwave
Start-ups’ losses Vs rise in capital
In India, start-ups have bought revolution and transformation in certain sectors. Although the pandemic had an impact on the number of new startups launched, which fell by 70% from 3,500 (2019) to 1,050 (2020), Indian startups recorded a total funding of $11.5 Bn, which is just 10% lower than 2019. 90% Indian startups failed within the first five years, lack of innovation being the main reason. The Indian startup ecosystem saw 924 deals in 2020, 14% higher than 2019. Indian Unicorns have been hit doubly hard with demand and liquidity crunch. At the same time, we have seen failures in growing numbers in the sectors like Logistics, e-commerce and food technology . However, the pandemic has knocked the well-known startups like Ola, Paytm, OYO, BigBasket, Zomato, Swiggy down to their knees.
India is a follower market and highlighted as the third-largest startup ecosystem in the world, but it also tops the list for failed startups. In 2020, despite many challenges due to the pandemic, Indian startups continued to battle hard, raising $9.4 billion across 881 deals, and adding 14 companies to the unicorn club. Investors and founders said the increase in deal flow is primarily led by significant liquidity in the venture capital space and overall bullishness in the technology sector across private and public markets, globally. The State Of Indian Startup Ecosystem 2020 — in an optimistic scenario, the total funding amount in 2020 would reach $11.3 Bn (which was 11% lower than 2019). So, the startup ecosystem has performed slightly better than expectations. Trends show that higher revenue increase has also resulted in higher net losses. Compared to 2020,both the funding amount and deal count will surge 19% and 13% respectively.
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2:26 #Hackers are demanding $70 million ransom to restore data of affectedBy VARINDIA | 96 views
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LIVE: HM Shri Amit Shah addresses Parivartan Sabha in Sahibganj, Jharkhand
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LIVE: HM Shri Amit Shah addresses Parivartan Sabha in Sahibganj, JharkhandBy Bharatiya Janata Party Delhi | 778 views
Bigg Boss 18 | Boss Meter Trend Me Elvish Yadav Ki Entry, Vivian vs Rajat Dalal
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Press Conference by Union Minister of Jal Shakti Shri Gajendra Singh Shekhawat at BJP HQ.
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Press Conference by Union Minister of Jal Shakti Shri Gajendra Singh Shekhawat at BJP HQ.By Bharatiya Janata Party Delhi | 75949 views
India observes Independence Day with patriotic fervour
Prime Minister Narendra Modi
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India observes Independence Day with patriotic fervourBy PMOfficeIndia | 256071 views
अनूठे "रक्षा -सूत्र " से बांधी डोर विश्वास की
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Address by Sh. Rajeev Gupta, Secretary, Youth Affairs at "International Yoga Seminar"
Address by Shri. Rajeev Gupta, Secretary, Youth Affairs, Ministry of Youth Affairs & Sports, at the "International Yoga Seminar" organized by "Shri Ram Chandra Mission" in April, 2016
Watch Address by Sh. Rajeev Gupta, Secretary, Youth Affairs at "International Yoga Seminar" With HD QualityBy Ministry of Youth Affairs | 770781 views