The data loss in transmission from Mumbai to Bengaluru is just one of the incidents highlighting potential threat of Aadhaar. By creating a lucrative database under UID, we are creating the wrong incentives for various interets—from hackers to enemy nations
Maharashtra government has lost data of about three lakh people collected under the controversial Aadhaar scheme, mostly from Mumbai who enrolled into the number scheme.
According to a report in the Times of India, the data containing permanent account number (PAN) and biometric information was lost while being uploaded from Mumbai to Unique Identification Authority of India (UIDAI) server in Bengaluru. “While the transmission was in progress, the hard disk containing data crashed. When the data was downloaded in Bangalore, it could not be decrypted,” the newspaper report said quoting an official from Maharashtra information technology (IT) department, which is overseeing the enrolment of citizens.
Moneylife has been constantly raising questions about the authority of UIDAI, privacy concerns and security of data that is being collected by various 'interested' third parties or registrars from gullible people under the pretext of cash or subsidy benefits.
UIDAI is under heavy criticism for concerns like privacy issues, use of biometrics and the incentives being paid for enrolling more residents. Many voices have been raised against the forceful implementation of the UID project, with most objections focused on concerns over privacy. In addition, the incentive issue will certainly push government employees to enrol more residents by any means, when they do not know what the UID is and how it would affect their lives.
Just last month, the Bombay High Court directed the Nandan Nilekani-led UIDAI and Central government to decide within three months on a representation questioning the lack of safeguards in the Aadhaar and UID. The court was hearing a public interest litigation (PIL) filed by Vickram Krishna, Kamayani Bali Mahabal, Yogesh Pawar, Dr Nagarjuna G, and Prof R Ramkumar (TISS).
Advocate for the petitioners, Mihir Desai, told the court that there were severe concerns on the issue of safety systems, privacy and security of the people.
Coming back to the data loss, according to the newspaper report, the (data) loss came on top of thefts of laptops with UID data from Mumbai. “Though complaints were registered with the police, officials contended the crimes were not necessarily for the data. The information on laptops therefore, they said, might not have been misused,” the report says.
Data loss or theft?
Apart from the state using information (collected under the Aadhaar scheme) selectively against political opponents whether to buy votes in parliament, silence political opponents or power-mongering over citizens, corporates and global MNCs also have sufficient interest in prizing information of citizens.
An insurance service provider would be keen to get all personal information and then base its decision on them. Similarly, any marketer would love to obtain such information to do targeted marketing. Companies want it and when demand exists, through bribery or legal means, such information would be public. Even today, most civil/criminal cases in courts are fought on evidence of illegally obtained telephone bills, call records and bank/credit card details. Tomorrow there will be more and easier availability of proofs and a larger grey market trading in private information would emerge.
It is also argued with good reason that by having such a lucrative database, we are creating incentives for wrong interests—from hackers to enemy nations. Probability is low or high is a premature question and not of primary concern. But given the risks, it is enough to worry about.
It does not matter to all of us if Aadhaar is made most secure or that it is a harmless dot. What worries is that in whose hands the web of connected dots that nets all personal information by using Aadhaar would be. It is the government and therein lies the worry.
Helped by its Rajasthan production, Cairn India reported decent numbers and saw its consolidated net profit increase 17%
Oil and gas explorer Cairn India recorded consolidated revenue of Rs4,363.36 crore, for the quarter ended 31 March 2013 an increase over the Rs365,1.34 crore for the same period previous year. Its consolidated profit after tax stood at Rs2,563.60 crore when compared to Rs2,186.23 crore last year. This was partly helped by the increase in production from its Rajasthan block, which grew at 32% year-on-year, on an annualised basis. The average price realization for the year was $97.6 per barrel of oil equivalent. The crude oil from Rajasthan block realised $ 98.3/bbl, 10.7% discount to Brent. Cairn India’s gross operated production of 205,323 barrels of oil equivalent per day (boepd), a 19% increase over the previous year. According to the company, this is positioned to provide consistent growth.
Cairn India plans to drill in excess of 450 wells in the Rajasthan block over a three-year period; includes 100 exploration and appraisal (E&A) wells and the balance as development wells to sustain and enhance production volumes.
Elango P, whole-time director and interim CEO, Cairn India said of its yearly results: “In FY2012-13 we have achieved spectacular results delivering best in class production growth and operating costs. The operating environment has also substantially improved with key approvals coming in at a faster pace that enabled us to ramp up Mangala production, bring Aishwariya field online, commence gas sales and most importantly re-commence exploration in Rajasthan. We have initiated the largest ever exploration and appraisal programme in our history to unlock further potential in Rajasthan as well as focus on our next stage of growth beyond Rajasthan. Commensurate with the development and exploration activity across the existing portfolio, we plan for a net capital investment of $3 billion through FY2015-16.”
The Cairn India board recommended a final dividend of Rs6.5 per equity share, entailing an outflow of approximately Rs14,431 million including dividend distribution tax.
The Nifty almost reached yesterday's low, but managed a flat close with a positive bias. A lower low or close below any previous day low may reverse the current upmove. A strong upmove may be possible above 5,870
The market managed a flat close with a positive bias helped by a late recovery amid a high degree of volatility. The Nifty almost reached yesterday's low, but managed a flat close with a positive bias. A lower low or close below any previous day low may reverse the current upmove. A strong may be upmove possible above 5,870. The National Stock Exchange (NSE) registered a volume of 61.05 crore shares and advance-decline ratio of 648:675.
The domestic market opened flat tracking the Asian markets which were weak in morning trade after a preliminary reading showed China’s factory output declined in April, re-igniting fears of a slowdown in Asia’s largest economy. Wall Street closed higher on Monday on bargain hunting, after last week’s decline on falling commodity prices.
Back home, the Nifty opened nine points up at 5,843 and the Sensex resumed trade at 19,210, a rise of 40 points over its previous close. The opening figures on the key market indicators were their intraday highs. The benchmarks were weighed down by selling pressure from banking, capital goods and fast moving consumer goods counters.
The indices continued to trend lower as trade progressed in the absence of any fresh triggers. The market touched its lows at around 12.30pm as selling in capital goods, banking, realty, PSU and consumer durables intensified. The Nifty fell to 5,792 and the Sensex retracted to 19,042 at their respective lows.
The market made a feeble attempt to bounce back, however, strong selling pressure kept the indices in the red in the second half of the trading session. But the benchmarks managed to emerge into the green in the last half hour of trade.
The market witnessed a flat close on political and economic concerns. The Nifty added three points (0.04%) to 5,837 and the Sensex rose 10 points (0.05%) to settle at 19,179.
The broader indices ended mixed, as the BSE Mid-cap index declined 0.38% and the BSE Small-cap index rose 0.36%.
The top gainers in the sectoral space were BSE Healthcare (up 0.66%); BSE IT (up 0.64%); BSE Oil & Gas (up 0.51%); BSE TECk (up 0.36%) and BSE Auto (up 0.12%). The main losers were BSE Capital Goods (down 1.29%); BSE Consumer Durables (down 1.14%); BSE Realty (down 0.67%); BSE Bankex (down 0.33%) and BSE PSU (down 0.32%).
Fifteen of the 30 stocks on the Sensex closed in the positive. The chief gainers were Hero MotoCorp (up 2.87%); Sun Pharmaceutical Industries (up 2.51%); Bajaj Auto (up 2.40%); Reliance Industries (up 1.74%) and ICICI Bank (up 1.20%). The top losers were Jindal Steel & Power (down 3.76%); Larsen & Toubro (down 2.04%); State Bank of India (down 1.61%); HDFC Bank (down 1.41%) and Tata Motors (down 1.37%).
The top two A Group gainers on the BSE were—Indiabulls Real Estate (up 8.70%) and Amara Raja Batteries (up 4.75%).
The top two A Group losers on the BSE were—JSPL (down 3.76%) and Motherson Sumi Systems (down 72%).
The top two B Group gainers on the BSE were—Alka India (up 20%) and Kesoram Industries (up 19.96%).
The top two B Group losers on the BSE were—USG Tech Solutions (down 19.70%) and Taksheel Solutions (down 19.68%).
Of the 50 stocks on the Nifty, 22ended in the green. The key gainers were Bajaj Auto (up 2.93%); Hero MotoCorp (up 2.6%); Sun Pharma (up 2.58%); Kotak Mahindra Bank (up 2.14%) and Grasim Industries (up 1.76%). The main losers were JSPL (down 3.95%); DLF (down 1.91%); HDFC Bank (down 1.85%); SBI (down 1.72%) and L&T (down 1.69%).
Markets in Asia settled lower as HSBC's flash PMI data saw factory growth in China falling to 50.5 from March's reading of 51.6. Chinese financials fell over 6% on reports that non-performing loans rose 21% in the first quarter from a year earlier.
The Shanghai Composite tanked 2.57%; the Hang Seng dropped 1.08%; the Jakarta Composite declined 0.43%; the KLSE Composite fell 0.37%; the Nikkei 225 contracted 0.29%; the Straits Times dropped 0.74%; the Seoul Composite was down 0.40% and the Taiwan Weighted settled 0.35% lower.
At the time of writing, the CAC40 of France gained 1.84%; DAX of Germany was up 0.53% and UK’s FTSE 100 was 0.83% higher. At the same time, US stock futures were mixed with a negative bias.
Back home, foreign institutional investors were net buyers of shares totalling Rs915.82 crore on Monday whereas domestic institutional investors were net sellers of equities amounting to Rs442.53 crore.
IT software products manufacturer Rolta India today said its subsidiary, Rolta International, has won a contract to develop geospatial transportation solution for Nanging city in China. The solution will collect Nanjing’s transportation data from hundreds of sensors and provide dashboards to assist in traffic management and monitoring the environmental parameters in real-time to better handle the dramatic increase in demand on the city’s infrastructure. Rolta India fell 0.87% to Rs62.85 on the BSE.
Union Bank of India has raised $350 million from an overseas US-dollar denominated bond sale. The annual coupon has been fixed at 3.625% (US treasury plus 300 basis points). This is better than the initial guidance of US Treasury plus 315 basis points. The stock declined 1.62% to Rs237.30 on the NSE.
Pennar Industries has bagged orders worth Rs50 crore for cold formed profiles, tubes and engineered components. The Hyderabad-based company bagged these orders from Integral Coach Factory, Texmaco, J Kumar Infra Projects, ALF Engineering, IVRCL, and IJM Infrastructure. The stock gained 0.59% to close at Rs5.60 on the NSE.