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The Baseline
20 Oct 2016
Change your debit card pin: breach in card security, real-estate sales don't pick up during festival season
  • A big breach of 3.2 million debit cards from ICICI, Axis, SBI and HDFC has resulted in security codes being leaked, and stolen data is already being used to make fraudulent transactions in China. Banks are preparing to ask customers to change their security pin, and in some cases replace their cards to ensure that their money is safe. The breach is likely a result of malware placed in some ATM and Point of Sale systems. If you haven't yet changed your old pin: best to update it.  

  • A GST panel meeting between state and centre governments failed to finalize rates and are set to meet again next month in a second attempt to reach an agreement. The lack of consensus is raising concerns that the tax reform might miss the April deadline, highlighting the differences between the centre and state on revenue sharing in the GST set up, and the rights that the Central government has in additional levies and cesses. 

  • The festival season has seen an uptick in sales for two-wheelers, groceries and jewellery, says  Assocham. Mobile phone sales are also seeing a big uptick. However, one significant exception to increased spending has been real-estate, which has failed to pick up. Online shopping portals are continuing to dominate the sales in metros. 

  • Trending stock today: Pokarna Ltd is trading at Rs. 898, topping the stocks trading above SMA 30 in the screener

  • Photo of the day: A leopard walks through a Mumbai suburb bordering the Sanjay Gandhi National Park. Nayan Khanolkar/Wildlife Photographer of the Year

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