Daily News Podcast: Rupee hits record low of 70.32 against US Dollar : Bulletin: Business Today
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Daily News Podcast: Rupee hits record low of 70.32 against US Dollar

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August 16, 2018

Cosmos Bank ATM hack: NPCI says cyber fraud due to malware attack on bank's IT system
A day after Pune-based Cosmos Bank said it was hit by a cyber attack in which miscreants allegedly hacked the server and transferred over Rs 94 crore to overseas accounts, the National Payments Corporation of India (NPCI) claimed that its systems are "fully secure" and the cyber fraud happened due to a malware-based attack on the lender's IT system. Hackers managed to siphon off over Rs 90 crore through a malware attack on the server of the cooperative bank and cloning thousands of debit cards, Cosmos Bank chairman Milind Kale had said. The fraudulent transactions were carried out on August 11 and August 13 and the malware attack by the hackers originated in Canada.

Rupee Hits Fresh Record Low Of 70.32 Against US Dollar
The rupee opened at a record low of 70.25 a dollar and weakened further to trade at a fresh low of 70.32, down by 43 paise, reported news agency Press Trust of India (PTI).  Experts attributed the fall in rupee to the trade deficit hitting a 5-year high. PTI reported forex dealers as saying that besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.

NTPC To Set Up A Subsidiary For Coal Mining Soon
State-run power giant NTPC Ltd. will soon set up a subsidiary to handle coal mining operations as it plans to enter commercial coal mining after meeting its own requirement, an official said according to PTI. The power sector behemoth also has a plan to list the coal subsidiary subsequently on stock exchanges. The power PSU has been allotted 10 coal mines to meet its fuel requirement of which work has been started in five mines.

Patanjali to launch Kimbho chat app on August 27
More than two months after it was taken down hastily, Baba Ramdev-led Patanjali Ayurved has said that its messaging app 'Kimbho' is ready with new features and plans to re-launch it this month. The Haridwar-based company has now put Kimbho's trial version on Google Play Store for downloads and plans to launch the app officially on August 27. It will also be available on Apple App store shortly.

Blackstone may buy stake in Jet Airways' frequent flyer arm, says report
US-based private equity firm Blackstone Group is in talks to acquire a stake in the frequent-flier loyalty program of Jet Airways, Bloomberg reported on Wednesday, citing people familiar with the matter. A potential deal could value the loyalty program, Jet Privilege Private Ltd, between $429.1 million to $572.1 million and would be dependant on Jet Airways securing adequate funding for its airline operations, Bloomberg said.

Beware of fake Ayushman Bharat websites trying to lure people with bogus schemes
Prime Minister Narendra Modi in his address to the nation from the ramparts of Red Fort announced his ambitious Ayushman Bharat scheme that aims to provide health insurance to all. However, even before the scheme is launched on September 25, the birthday of Bharatiya Jana Sangh founder Deen Dayal Upadhyay, a number of fake websites have come up with the aim of cheating prospective beneficiaries. Social media is abuzz with messages propagating these fake websites whose aim is to lure people by offering attractive scheme and cash in on their money. These websites are lookalikes of the official website of the Ayushman Bharat scheme.The government has now issued messages asking people to be cautious. Taking cognizance of the matter, Ayushman Bharat CEO, Indu Bhushan has appealed to the people to be cautious.
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