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Data breaches could cost Indian firms Rs 11 crore this year, says IBM report

Indian companies could lose Rs 11 crore to data breaches this year, up 12.3% from last year, a report by tech giant IBM said on Tuesday. A breach is described as an event where an individual’s name and a medical/financial record is potentially put at risk – either in electronic …

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Don’t report frauds below Rs 1 lakh to police: CVC to banks

The Central Vigilance Commission (CVC) has asked public sector banks not to report frauds below Rs one lakh to local police, unless their staff is involved in such crimes. Earlier banks were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police. The decision was …

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Delhi Metro moves SC against order to pay Rs 60cr to ReIiance Infra subsidiary

The Delhi Metro Rail Corporation (DMRC) has petitioned before the Supreme Court against the Delhi High Court order directing the company to pay Rs 60 crore to Delhi Airport Metro Express Private Limited (DAMEPL), a subsidiary of Anil Ambani-owned Reliance Infrastructure Limited (RInfra). In May, the arbitration over Delhi metro’s …