Naavi
IICA Qualified Independent Director
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Author Archives: Vijayashankar Na
A New Business Proposition for Digital India unveiled.. StartUps may jump from their seats
In a little surprising but welcome development, the Government of India has released a notification under Section 67C of ITA 2008 viz G.S.R. 711 (E) dated 21st July 2016 titled “Information Technology (Preservation and Retention of Information by Intermediaries Providing … Continue reading
SWIFT Hacking exposes Indian Banks to huge Risks
The hacking of a Bangladeshi Bank last February where about $81 million was transferred by fraudsters hacking into the SWIFT Inter Bank money transfer system is a grim reminder of the weaknesses in our Banking eco system. The detailed account … Continue reading
Posted in Cyber Law
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SMS Based 2F authentication is dead.. FinTech companies skating on thin ice
During the days of G Gopalakrishna Working Group (GGWG) of RBI which was deliberating on the E Banking security, two Banks namely ICICI Bank and SBI who were members of the committee tried to argue that “Two Factor Authentication” should … Continue reading
Posted in Bank, RBI
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FinTech Companies need to watch out for the new regulations from SSWG
Since June 2016, there have been a flurry of activities in the RBI as regards formation of security guidelines that apply to the Financial Services Industry in general in India and Banking in particular. First, there was the circular regarding … Continue reading
Posted in Cyber Law
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RBI’s FinTech Working Group needs to secure Consumer interests also
It is good to see that RBI at last appear to be walking its talk on hardening the security in Banks. After the last circular on “Cyber Security Framework” (June 2, 2016), which while reiterating the earlier circulars issued after the … Continue reading
Posted in Cyber Law
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“There will be no prosperity without Law and Order..” Donald Trump.. A message also for Digital India
Donald Trump the Republican nominee for US president this year says “There will be no prosperity without Law and Order”. This was said in the context of the American physical space where Crime and Terrorism has created a situation where … Continue reading