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Clues by NC Team • 22 Jan 2019, Tuesday

Last week, a data security enthusiast called Gareth pointed out on Twitter that RupeeRedee, an early stage lending startup, was ‘leaking’ customer details because of a vulnerability on its cloud Storage facilities. RupeeRedee took notice of this and recognised and fixed the potential isolated vulnerability in one of their data stacks stored on Amazon Cloud by late Friday. Data that could be accessed were customer-scanned copies of Aadhaar or PAN cards, which are usually submitted by applicants during KYC.

Read More at The Economic Times
Clues by NC Team • 11 Jan 2019, Friday

Indian rupee has turned into the worst performing Asian currency from being the best just two weeks back. A rebound in global oil prices and concerns over farm loan waivers has reversed the gains made by the domestic currency. Funds are instead accumulating the Indonesian rupiah and Chinese yuan on optimism over trade talks and signs of a Federal Reserve rate hike pause. India relies on oil imports to meet about 80% of its requirements. Every $10 rise in oil prices widens the current-account gap by $12.5 billion, according to a central bank study.

Read More at The Financial Express
Clues by NC Team • 10 Jan 2019, Thursday

India’s sugar export is unlikely to meet the targeted 5 million tonne set by the government owing to a strengthening rupee and falling global prices. Rupee has gained 5.5% from its record low of Rs 74.48 in October, making the exports unattractive. Sugar is being sold at around 29,200 rupees ($414) per tonne in India, while exporters are getting less than 19,000 rupees a tonne, dealers said. India, which is the world’s second largest sugar producer, is likely to export 2.5 million to 3.5 million tonnes of sugar in the 2018/19 marketing year that started on Oct. 1.

Read More at The Economic Times
Clues by NC Team • 5 Jan 2019, Saturday

Foreign Portfolio Investors (FPIs)[1] have pulled out nearly $11.3 billion from the Indian debt market ($6.7 billion) and equity markets ($4.6 billion) in 2018, the highest since 2008. Outflows from the debt markets were triggered due to weakness in the rupee and a rise in the bond yields from 6.18% in November 2016 to 8.18% in November 2018. The rupee plunged 8% between August and October to hit an all-time low of 74.39 against the US dollar. FPIs were net buyers in the Indian equity markets in 2016 and 2017 with $2.9 billion and $8.01 billion respectively.

Read More at The Financial Express
Clues by NC Team • 23 Dec 2018, Sunday

The partial shutdown of the US government, trend in crude oil prices and rupee movement may dictate the direction of the equity market in the coming week. Markets may also witness added volatility due to the expiry December series in the derivative segment. Global markets have also been jittery over reports of Donald Trump planning to sack Federal Reserve chairman Jerome Powell due to the recent interest rate hike. However, recent fall in crude oil prices, pick up in industrial production, softening of CPI inflation and the recent GST rate cut announcements may cheer up the Indian equities.

Read More at The Financial Express
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