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  What are the latest business news? Business news - August 2020. 1) The Madras high court fined Patanjali INR10 lakh for chasing profit by exploiting public fear by projecting a COVID-19 cure. Where actually ‘Coronil’ is not a cure but rather an immunity booster. They wanted to do marketing their products however the court permanently banned ‘Coronil’. It is nothing we all know that it is marketing by saying the product is a cure or anything else. 2) Reserve Bank of India governor Shaktikanta Das on 6 august Thursday said that  India’s forex reserves have increased by $56.8 billion to $534.6 billion in the current financial year between April to July . This is equivalent to 13.4 months of imports, he added that India’s foreign exchange reserves crossed the  $500 billion  mark for the first time in July. Our foreign exchange is growing contiguously. 3) The Indian Railways launched the first  ‘Kisan Rail’  coaches on Friday. ‘Kisan Rail’ will help for faster transportation perishable fa

BANNED CHINESE APPS

INDIAN GOVERNMENT BANNED CHINESE APPS




New Delhi ,:The Indian government banned 59 Chinese mobile applications, including top social media platforms such as TikTok, Helo and WeChat, to counter the threat posed by these applications to the country’s “sovereignty and security,” it said in a press release late on Monday. ShareIT, UC browser and shopping app Clubfactory are among the other prominent apps that have been blocked amid rising tensions between India and China following clashes at the border two weeks ago.

The government said the applications are engaged in activities “prejudicial to sovereignty and integrity of India, defence of India, security of state and public order.” The ban has been imposed under Section 69A of the Information Technology Act read with relevant provisions of the Information Technology (Procedure and Safeguards for Blocking of Access of Information by Public) Rules 2009, it said. The government also cited complaints about data on Indian users being transferred abroad without authorisation.
The move could come as a blow to China’s Digital Silk Route ambitions, eroding the valuation of the companies. It could also lead to more countries following India’s cue and acting against these apps, sources told ET.
A top official said the government had considered all aspects before taking the decision. “These apps have been there for a long time, and there are some privacy and security issues with them including risks of data going out of the country,” said the person. There have been raging concerns on aspects relating to data security and safeguarding the privacy of 130 crore Indians. It has been noted recently that such concerns also pose a threat to sovereignty and security of our country," reads a notice posted on the ministry's official website.

The sudden move comes as tensions between the two countries have been escalating recently after Indian troops crossed the border with China to conduct illegal activities and launched provocative attacks against Chinese personnel, causing a deadly clash between China and India's border defense troops in the Galwan Valley on June 15.
Since then, ultra-nationalism appears to have taken over India, where calls for boycotting Chinese products and footage of Indian citizens destroying a Chinese-made TV set have been spread widely on social media.
Statement from the Ministry of Electronics and IT (MeitY) said it had received complaints from various sources, including several reports about the misuse of some mobile apps for stealing and surreptitiously transmitting users’ data in an unauthorised manner to servers outside India.
graph

Ban Recommended by MHA


“The compilation of the data, its mining and profiling by elements hostile to national security and defence of India, which ultimately impinges upon the sovereignty and integrity of India, is a matter of very deep and immediate concern which requires emergency measures,” it said. “There have been raging concerns on aspects relating to data security and safeguarding the privacy of 130 crore Indians. It has been noted recently that such concerns also pose a threat to sovereignty and security of our country.”
The Indian Cyber Crime Coordination Centre, part of the Ministry of Home Affairs, has sent an “exhaustive recommendation for blocking the malicious apps,” the press release said.
The Internet Freedom Foundation said, “This is not a legal order issued under Section 69A. Our first ask is transparency and disclosure.” The activist group tweeted such cases needed to be considered individually and not in the aggregate.
“There is legitimacy in concerns of data security and citizens’ privacy,” it said. “This may be achieved through regulatory processes that emerge from objective, evidence based measures. This ensures credible action that protects individual liberty, innovation & security interests.”
Spokespeople for ByteDance, the owners of TikTok and Helo, and Alibaba, which owns UC Browser, said they could not comment immediately.

‘WELCOME MOVE’

InMobi, the ad tech company that owns Roposo, a video app that competes with TikTok, said the move would open up the market for its platform while ShareChat, the Indian social network, welcomed the government’s move.
Bolo Indya, a rival to TikTok, says it will benefit from the ban on its larger rival. “We welcome the decision as we resonate the concerns raised by the government. This is the opportunity for Bolo Indya and other Indian apps to deliver value, keeping Indian culture and data security at the highest priority,” said its co-founder and CEO Varun Saxena.
Here's the complete list of the apps banned:
1. TikTok
2. Shareit
3. Kwai
4. UC Browser
5. Baidu map
6. Shein
7. Clash of Kings
8. DU battery saver
9. Helo
10. Likee
11. YouCam makeup
12. Mi Community
13. CM Browers
14. Virus Cleaner
15. APUS Browser
16. ROMWE
17. Club Factory
18. Newsdog
19. Beutry Plus
20. WeChat
21. UC News
22. QQ Mail
23. Weibo
24. Xender
25. QQ Music
26. QQ Newsfeed
27. Bigo Live
28. SelfieCity
29. Mail Master
30. Parallel Space
31. Mi Video Call – Xiaomi
32. WeSync
33. ES File Explorer
34. Viva Video – QU Video Inc
35. Meitu
36. Vigo Video
37. New Video Status
38. DU Recorder
39. Vault- Hide
40. Cache Cleaner DU App studio
41. DU Cleaner
42. DU Browser
43. Hago Play With New Friends
44. Cam Scanner
45. Clean Master – Cheetah Mobile
46. Wonder Camera
47. Photo Wonder
48. QQ Player
49. We Meet
50. Sweet Selfie
51. Baidu Translate
52. Vmate
53. QQ International
54. QQ Security Center
55. QQ Launcher
56. U Video
57. V fly Status Video
58. Mobile Legends
59. DU Privacy

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