We like to talk Business and Finance. Figured we should do it for a living.
Diversity Day (for topics, silly). A conversation on:
The Google+ Data Breach
Google drops its social networking site, Google+ following data leak of over 500,000 users. This comes not long after Facebook reported a security flaw affecting c. 50m accounts. Ironically, these breaches are coming to light more and more frequently after the implementation of General Data Protection Regulation (GDPR) on May 25th, 2018 which mandates companies to notify their users within 72 hours in case of any data breach. As per GDPR regulations, the penalty for non-compliance can be as high as €20m or 4% of a company’s global annual revenue — whichever is greater.
Sovereign Gold Bonds
Gold will always be in vogue. A recent initiative of the government seems to agree. We're talking of the launch of the Sovereign Gold Bond (SGB) Scheme - open for subscriptions from October 15th. These bonds are largely positioned as a substitute for investing in physical gold and comes across as an effort to reduce gold imports, limit current account deficit, and deter a Rupee sell-off while the masses chase the bullion, at least metaphorically.
White Knight for NBFCs
State Bank of India offers to buy ‘good quality assets’ worth INR45,000cr from Non Banking Finance Companies (NBFCs) affected by IL&FS loan payment default. Interestingly, SBI is not in the business of buying off loan portfolios, it is in the business of underwriting loans. Why is it then rushing in as a white knight? Is there a moral hazard in the offing?
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