Safety feature – Online Credit card usage
If you have ever stopped to look at the online credit usage you would have done (including reviewed the information you were asked to provide), it would seem extremely easy to use somebody’s card and use it for buying stuff. What is it that you need to provide in terms of information when using your credit card online ? You go to a site, decide to buy something (maybe jewellery, maybe some electronics goods, or something that can be delivered instantaneously such as software) and are asked whether you need to pay through a credit card, using the much hyped secure card payment gateways (that use ’128 bit encryption security’, and are from well known banks).
Think for a minute about the information you provide online; you typically provide the following information:
- Name
- Date of birth (sometimes)
- Card Number
- 3 / 4 Digit security code at the back of the card
- Validity period of the card
Categories: Banks, Consumer, Credit Card, Finance, Fraud, Online, RBI, Security Tags: Bank, Credit Card, Finance, Fraud, Money, Online Transaction, RBI, Safety, Security
India Policy: Confusion Reigns…In Action & Words
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The articles below outline issues which will determine future prospects…
- Global economic conditions are not getting better
- No industry is immune
- The Government is under a microscope as it deals with the Economic and Security crises.
India’s growth has largely been a result of Government getting out of the way of Private enterprise…progressive dismantling of the license-raj has removed barriers for new businesses. How is a government that has been told to get out of the way for the sake of progress going to tackle problems where it is the “DOER”. The only area that Government has been allowed to be the “initiator” is Defence and Security. The record is woeful.
India can do little about 1) and 2) above; but to hear an influential voice like Jack Welch put the Government of India on notice is ominous. Can an administration which has been sleeping for four and a half years respond to this challenge? My skepticism of this administration is tempered by my belief in the strength of the people and their will to succeed.
“What will be the growth rate next year will largely depend on how the economy performs in the second half of the current fiscal.”
In the first half of this financial year (April-September), India’s economy expanded by 7.8%.The bank expects India to grow by 6.3% in 2008. The government has said India will grow by between 7% and 8% in 2008-09.
The bank’s Global Economic Prospects 2009 report estimated India’s growth next year at 5.8%, and said the world is on the brink of a rare recession
Yahoo to lay-off three percent in India
Small number, but the psychological impact is huge.
Mumbai terror strike may benefit China
“… all foreign companies can do right now is boost security for their people and wait. Meanwhile, many investors will be thinking about tilting the balance to China,” they wrote in a recent column for American publication BusinessWeek.
Noting that the possible slant towards China is understandable, the column said, “Despite persistent worker protests, the Olympics this summer left little doubt of the country’s ability to manage itself.”
Categories: Finance, Governance, Growth, India, Investing, Policy, Politics, RBI, Reform, Trade Tags:
India Banks: RBI directive destroys transparency
Lee’s Dhaba
#fullpost{display:inline;}As I have said in two earlier posts:
the RBI acquisience to industry demands for accounting gimmicks has made valuation of Banks an impossible short term task. Realty problems have been swept under the rug…So, I am rescinding my earlier view that Banks in India are offering good value.
It may be the case that Banks offer value, but the RBI move smells…in a market fraught with danger and zero profit visibility I hoped we would be upfront with the problems.
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