Career
IIT-B names, shames start-ups reneging on job offers
In an unprecedented move, the Indian Institute of Technology-Bombay (IIT-B) on Thursday released the names of nine companies it had blacklisted for allegedly going back on plum job placements they offered to its students.
 
These companies, most of them start-ups, were blacklisted for one year for various reasons, IIT-B spokesperson Falguni Benerjee-Naha said.
 
The erring companies are LeGarde Burnett Group, which had revoked its job offers and was later found to be fake.
 
Companies LexInnova and IndusInsight delayed the joining dates given to the selected students, Banerjee-Naha said.
 
The others who are said to have revoked job offers are GPSK, Johnson Electric of China, Portea Medical, Peppertap and Cashcare Technologies. 
 
One firm, Mera Hunar, came up with a different name and hired the IIT-B students for another start-up.
 
The list of nine companies named on Thursday is not final and more could follow depending on their responses in future, she said.
 
It is the first time a prestigious institution like the IIT-B has published a list of blacklisted companies for reneging on job offers to its passouts.
 
The matter had been under review for a couple of months after these companies defaulted on their job offers and was discussed at a recent national-level conclave of all IITs in the country.
 
Taking a cue from IIT-B, other IITs are expected to follow suit and announce their own lists of companies that have gone back on their placement commitments.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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COMMENTS

Kisan Karnad

9 months ago

These are probably start ups which use hiring intent to drum up cash flows from potential VCs.

India saw 350% rise in cybercrime in three years: Study
Blame it on systems that are built around technologies with weaker protocols which are inherently more vulnerable, India has witnessed a 350 per cent rise in cyber crime cases from 2011-2014, an Assocham-PwC joint study revealed on Thursday.
 
In the past, attacks have been mostly initiated from countries such as the US, Turkey, China, Brazil, Pakistan, Algeria, Turkey, Europe and the UAE.
 
With the growing adoption of internet and smartphone, India has emerged as one of the most favourite countries among cyber criminals, said the study.
 
“Cyberattacks around the world are occurring at a greater frequency and intensity. Not only individuals but also businesses and governments are being targeted. The profile and motivation of cyber attackers are fast changing”, it highlighted.
 
“The Indian Computer Emergency Response Team (CERT-In) has also reported a surge in the number of incidents handled by it, with close to 50,000 security incidents in 2015,” noted the study titled ‘Protecting interconnected systems in the cyber era'.
 
With an increase in the usage of information and operational technology (OT) and consumer technology (CT) in critical infrastructure, overall effectiveness has increased. 
 
“However, these elements have also become the target of choice for attackers since they recognise the impact of disrupting the routine way of life,” the study noted. 
 
In the US alone, there has been an increase of nearly 50 per cent in reported cyber incidents against its critical infrastructure from 2012 to 2015.
 
Not only individuals but also businesses and governments are being targeted. 
 
“The profile and motivation of cyber attackers are fast changing. A new breed of cyber criminals has now emerged, whose main aim is not just financial gains but also causing disruption and chaos to businesses in particular and the nation at large,” the paper pointed out.
 
The regular sharing of cyber security intelligence and insights is essential to improving the resiliency of these systems and processes from emerging cyber risks, the study said.
 
Moneylife is conducting a free seminar in Mumbai on 31 August 2016 on cybercrime. For more details click here.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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NPCI's Unified Payments Interface to go live for 21 bank customers
The National Payments Corporation of India (NPCI) on Thursday said the Unified Payments Interface (UPI) will go live for customers of 21 banks.
 
The relevant details of the service would be available on the website of 21 banks, the NPCI said.
 
According to NPCI, the UPI application of 19 banks can be downloaded from Google Play Store in next two to three working days.
 
UPI is a unique payment solution which empowers a recipient to initiate the payment request from a smartphone. It facilitates 'virtual payment address' as a payment identifier for sending and collecting money and works on single click two factor authentication. It also provides an option for scheduling push and pull transactions for various purposes like sharing bills among peers. One can use UPI app instead of paying cash on delivery on receipt of product from online shopping websites and can pay for miscellaneous expenses like paying utility bills, over the counter payments, barcode (scan and pay) based payments, donations, school fees and other such unique and innovative use cases.      
 
 
The interface is the advanced version IMPS, which is a 24X7 funds transfer service. UPI will allow a customer to have multiple virtual addresses for multiple accounts in various banks. In order to ensure privacy of customer's data, there is no account number mapper anywhere other than the customer's own bank. This allows the customer to freely share the financial address with others. A customer can also decide to use the mobile number as the name instead of the short name for the virtual address like [email protected]
 
The list of banks providing the app on Google Play Store are: Andhra Bank, Axis Bank, Bank of Maharashtra, Bhartiya Mahila Bank, Canara Bank, Catholic Syrian Bank, DCB Bank, Federal Bank, ICICI Bank, TJSB Sahakari Bank, Oriental Bank of Commerce, Karnataka Bank, UCO Bank, Union Bank of India, United Bank of India, Punjab National Bank, South Indian Bank, Vijaya Bank and YES Bank.
 
According to NPCI, two banks -- IDBI Bank and RBL Bank -- are on-boarded as issues. The customers of the two banks can download any UPI enabled apps and link their account.
 
"This is a success of enormous significance. Real-time sending and receiving money through a mobile application at such a scale on interoperable basis had not been attempted anywhere else in the world. Now the UPI App will be made available on Google Play Store by banks," A.P. Hota, MD and CEO, was quoted as saying in the statement.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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COMMENTS

Mahesh S Bhatt

9 months ago

Are we secure from Internal / External hacks in real time?? Mahesh

VINAY R. MAHINDRAKAR

9 months ago

It should start from Rs.01-00 to Rs.50-00 and so on to the Essential Commodities like Xerox and Other Retail and daily necessary items Tea, Coffee and Breakfast for the poor and needy public and peoples of nation ... Reserve Bank of India and National Payment Corporation of India ...

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