/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The proposed cloud facility could eventually help banks reduce their dependence on foreign tech giants for storing data.
For years now, Indian customers have seen their sensitive financial data being misused by scammers. Most of us know someone—a friend, a family member or a colleague—who has been a victim of phishing attacks by scamsters.
A key reason why fraudulent entities are able to access this information is India’s financial institutions use vulnerable systems to store data, making their databases prone to sophisticated cyberattacks. Here, the Reserve Bank of India has faced a tricky question: What is the most secure way of hosting customers’ sensitive financial data?
In recent years, a unanimous answer has emerged: Databases hosted in the …
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.
