INDIAN CYBERSECURITY
How to invest this Diwali: ICICI Prudential AMC’s Chockalingam Narayanan shares his Samvat 2083 playbook
As investors prepare for Samvat 2083, the focus is shifting towards companies with strong earnings and cash flows. ICICI Prudential AMC suggests that the market is valuing current earnings more than distant growth predictions. The recovery in IT stocks may signal changing technology spending trends, but caution is advised. Opportunities in India's manufacturing and investment landscape could arise from supply-chain diversification and new trade agreements.
Equinix seeking land for India data centres: CEO
The world’s largest data centre operator by footprint, valued at nearly $100 billion, has invested $365 million in India and sees significant opportunities in AI inference, the process of using trained models to generate responses and run business applications. Such workloads require proximity to enterprise data, users and networks.
Amagi, Shiprocket post profits; US polls’ impact on IT
Amagi’s Q2 profit surged nearly 30x while Shiprocket swung into the black for the first time. This and more in today’s ETtech Top 5.
Tata Motors PV says CERT-In-flagged app vulnerabilities addressed through updates
The vulnerabilities identified in the iRA 2.0 and iRA.ev applications have been addressed through software updates and enhanced security measures, a Tata Motors Passenger Vehicles spokesperson told.
India flags Chinese-linked AI tools in hacking campaign against financial firms
India's cybersecurity agency named the hacking group behind a wave of AI-driven attacks on financial firms and identified its tools, at least two of them linked to China, adding India to a growing list of countries where
SBI-led banking alliance comes together to mount a defence to AI threats
Indian Banks' Association, led by State Bank of India, is developing a strategy for cybersecurity in the AI era. The initiative focuses on improving coordination among banks and facilitating timely information sharing. Increasing digitalization has expanded the potential for cyberattacks, urging immediate measures to mitigate risks.
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AI-based cyber threat executing unauthorised fund transfers from banking firms: Cert-In
The Indian Computer Emergency Response Team (Cert-In) has named the incident "Crafty Falcon", which uses publicly available AI tools to execute complete attack chains autonomously at machine speed and generate and refine large numbers of tailored attack scripts in rapid succession.
Central cyber security agency warns banks, NBFCs of AI attacks; I4C reveals how hackers are executing multi-crore frauds
I4C has warned banks, NBFCs and fintech firms about AI-powered cyberattacks that enable hackers to execute fraudulent transactions at machine speed. The agency has flagged multi-crore unauthorised fund transfers, urged financial institutions to strengthen API security and directed them to report cyber incidents to CERT-In and RBI within six hours.
India cybercrime agency warns financial firms on AI attacks
"These attacks are financially motivated and are being carried out with the help of Artificial Intelligence (AI) agents leading to machine speed compromise," the Indian Cybercrime Coordination Centre said in an advisory made public on Wednesday.
Digital recruitment is creating a new cybersecurity risk for employers
Online hiring has made it easier for companies to reach candidates across locations, but it has also exposed recruitment processes to identity fraud, manipulated assessments and misuse of personal information. HR teams are increasingly responsible for protecting the integrity and security of the hiring process.
OneStack raises Rs 12.5 crore to take cooperative banks deeper into UPI ecosystem
OneStack, a fintech provider, secured ₹12.5 crore funding to enhance cooperative bank participation in UPI payments. The funding will help expand services among cooperative banks and NBFCs while developing compliance offerings. Partner banks can now act as UPI issuers and acquirers, which improves revenue opportunities. This shift allows banks to maintain direct relationships with customers and merchants while managing transaction data.
Stockal scam: Trading platform says unauthorised third party accessed customer accounts
Stockal has disclosed that unauthorized trading practices impacted 13 client accounts, resulting in notable financial losses. Investors claim their assets were liquidated without consent, redirecting funds towards unauthorized transactions. An investigation revealed there was no compromise within Stockal's systems; however, it points to a likely social engineering incident. Affected investors have reached out to regulatory bodies in India and the U.S.
ETtech Explainer: Why SIM-binding is a concern for consumers and businesses
A new study raises alarms about the Department of Telecommunications' proposed SIM-binding requirement for messaging applications. The mandate could severely disrupt operations for consumers and businesses alike, especially impacting international travelers who depend on local SIMs or Wi-Fi. Businesses are bracing for heightened costs and difficulties tied to limited device accessibility.
Premji's deeptech bets; Razorpay gets IPO nod
Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.
India’s cooling systems face Europe-style cyber risks, say experts
The concerns follow cyberattacks on supermarket refrigeration systems across Europe, with stores in Sweden, Belgium, Estonia, the Netherlands, Finland and Luxembourg reporting disruptions. Attackers reportedly manipulated refrigeration controls, raising freezer temperatures and switching equipment into defrost mode, forcing stores to discard food stocks. The incidents follow similar attacks on hundreds of supermarkets in France in October.
Cert-In gets Mythos access, being careful with testing: Officials
Government agencies cannot download the AI’s source code or weights for running on their own, completely isolated or ‘air-gapped’ systems. Instead, to use Mythos, they must send their proprietary data, code, or network blueprints over the internet to Anthropic’s cloud servers.
From SBI to Binance, how financial institutions are becoming cyberattack targets
Recent incidents involving cryptocurrency exchange Binance and Indian public sector lender State Bank of India (SBI) have once again put the spotlight on the issue. While Binance reported a security breach involving unauthorised cryptocurrency withdrawals estimated at around $6.3 billion, SBI is investigating a suspected data leak involving nearly 3,900 customer records.
OpenAI’s India user base doubles; Rapido GOV quadruples
Happy Tuesday! India has become ChatGPT’s largest market globally, with its user base doubling. This and more in today’s ETtech Morning Dispatch.
Govt mulls giving Cert-In enforceable powers to mandate patching
Last month, two critical flaws in the PHP programming language, discovered with the help of AI, created worldwide panic as hackers targeted the vulnerabilities millions of times, and led to governments including the US, UK, France, Germany and Japan taking down public websites. PHP powers 69.3% of websites worldwide.
India-France defence ties poised for new phase, with 114 Rafales in focus
India and France are advancing their defence relationship with proposals for new fighter aircraft and submarines. The two nations are collaborating on advanced technologies and strategic partnerships essential for regional security. As the global security landscape evolves, India aims to enhance ties with trusted allies like France. The Horizon 2047 Roadmap outlines a vision for future cooperation across various sectors.
Digital payments firms race to fortify defences as cyberattacks intensify
At Bengaluru-based Cashfree, attempted attacks have been taking place repeatedly over the past three weeks, occurring at least 10 times as frequently as a year ago, chief technology officer Ramkumar Venkatesan told ET. Attackers are increasingly combining multiple vulnerabilities to attack systems, he said.
AU Small Finance Bank data leak: Salesforce says no vulnerability at its end
Salesforce has stated no vulnerabilities were found concerning a suspected data leak at AU Small Finance Bank. The bank is investigating claims of a breach by hackers, affecting sensitive customer data. Reportedly compromised information includes KYC records and personal identification documents, while the bank assures its core systems are unaffected. Prime Minister Narendra Modi recently warned of increasing cyberattack threats to the economy.
How should companies measure performance when AI does part of the work?
As AI becomes part of everyday work, companies are reconsidering how they assess employee performance. Measuring output alone may overlook the quality of decisions, the ability to verify AI-generated work, and the value employees add beyond what the technology can produce.
AI firm Kyvex founder Pearl Kapur joins BJP ahead of Punjab elections
Pearl Kapur has joined the Bharatiya Janata Party as the Punjab elections approach. He aims to integrate artificial intelligence and data analytics into the party's digital outreach strategies. This move highlights the increasing importance of digital platforms in modern political campaigns.
AI-powered cyberattacks siphon ₹300 crore from small NBFCs in two months
Recent cyberattacks have inflicted an estimated loss of ₹300 crore on Indian NBFC, with around 150 fraud cases reported. Focus has shifted towards identifying Chinese hacking platforms and AI toolkit involvement in these incidents. Exploiting operational weaknesses, these cybercriminals persistently launch their attacks, leading to urgent calls for NBFCs to bolster their cybersecurity frameworks to fend off further threats and safeguard their operations.
PHP scare sparks calls for urgent corp DPDP audits to plug all gaps
The incidents underline the need to identify gaps in companies’ security practices and clarify what constitutes reasonable safeguards before the law takes effect, they said. The DPDP Act is being implemented in phases, with a May 2027 deadline for full compliance obligations.
Social media norms, AI, deepfakes, chips among others on review list of parliamentary panel in 2026-27
The development comes as several incidents of age-inappropriate content, circulation of child sexual abuse material (CSAM), and alleged censorship on social media have been reported widely.
CAIT, NASSCOM to launch nationwide campaign on AI adoption, cyber fraud prevention among traders: Praveen Khandelwal
The Confederation of All India Traders (CAIT) and NASSCOM will jointly launch a nationwide campaign to promote artificial intelligence (AI) adoption and cybersecurity awareness to boost business growth and prevent cyber fraud, said Praveen Khandelwal, Member of Parliament (MP) and Secretary General of CAIT.
Cert-In and states rush to patch PHP flaws across govt portals
Last week, two critical cybersecurity flaws in the PHP programming language were discovered with the help of AI. Subsequently, Cert-In issued advised organisations to apply security patches. Thousands of state government portals, district administration websites, municipal corporation services, and public grievance redressal systems in India have historically relied on content management systems and frameworks based on the PHP programming language.
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