Business
Rupee watch: Currency nears 90 amid RBI caution; data-heavy week to test stability – The Times of India
The Indian rupee could come under further strain this week, with traders watching whether the currency edges closer to 90 per US dollar amid limited signs of strong central bank intervention. The rupee touched a record low of 89.49 on the previous Friday and slid 0.8 per cent over the week, driven by portfolio outflows, doubts over a potential US–India trade deal, and a perceived retreat by the Reserve Bank of India (RBI) from defending a key support level.A trader at a major private bank quoted by news agency Reuters said that the unexpected decline “caught the market on the wrong side,” and the pressure is likely to persist. The rupee has weakened 4.5 per cent in 2025, lagging regional counterparts despite resilient domestic fundamentals and robust equity markets. Analysts cited US tariffs as a major drag on India’s trade and portfolio flows, with hopes that a trade agreement could stem the currency’s slide.Abhishek Goenka of IFA Global was quoted by Reuters as saying that the rupee may now stabilise within an “88.80–90.00 range,” moving in a “gradual, staircase-like manner.” Meanwhile, the dollar index strengthened last week even as markets priced in chances of a US Federal Reserve rate cut following dovish comments by New York Fed President John Williams.Bond markets are expected to track liquidity trends and upcoming growth indicators. According to Reuters, the 10-year benchmark (6.33% 2035) closed at 6.5665 per cent on Friday, with traders expecting a 6.52–6.60 per cent band this week. The RBI recently made consecutive bond purchases — Rs 148.10 billion in the week to November 14 after Rs 124.70 billion a week earlier — its first such buys in nearly six months. The frontloaded nature of these operations has prompted speculation that they were largely for replacement demand rather than signalling a yield stance.Attention is also on the RBI’s December 5 policy decision, with uncertainty around whether the central bank will cut rates. Deutsche Bank’s India economist Kaushik Das said that the bank expects a 25-basis-point reduction, saying a Taylor Rule calculation points to a terminal repo rate of 5.25 per cent, reported Reuters. The bank estimates GDP growth for July–September at 7.7 per cent, compared with 7.8 per cent in the previous quarter.The rupee rebounded on Monday, settling at 89.20 after banks and importers sold dollars and global crude prices dipped. As per PTI, the RBI sold dollars in the offshore NDF market early in the day, helping keep the currency in the 89–89.30 range.The currency had earlier plunged 98 paise to close at 89.66 on Friday — its steepest one-day fall in over three years — amid strong dollar demand and weak equitiesKey data due this week, as listed by Reuters, includes India’s fiscal deficit, industrial output and GDP figures on November 28, alongside several US indicators such as PPI, retail sales, consumer confidence and durable goods orders.
Business
Anthropic’s new AI model exposes fresh risks, flaws for cybersecurity, IT services – The Times of India
New Delhi: A powerful new AI model is forcing govts, banks, and technology firms to rethink the rules of cybersecurity – and in India, the stakes may be even higher.Claude Mythos, developed by Anthropic, has demonstrated the ability to autonomously detect and exploit software vulnerabilities, including flaws that have persisted for decades. Early tests revealed that the model could identify long-standing weaknesses and simulate complex, multi-step cyberattacks, prompting the company to restrict its wider release. Anthropic CEO Dario Amodei highlighted the shift, noting that AI systems are now capable of finding vulnerabilities “that humans have missed”, a signal of how quickly the cybersecurity landscape is changing.US Treasury Secretary Scott Bessent reportedly convened a meeting with top bank executives – including leaders from JPMorgan Chase, Goldman Sachs, Citigroup, BoA, and Morgan Stanley – to assess the risks posed by such advanced AI systems.That concern is not theoretical. According to Jaydeep Singh, GM for India at Kaspersky, the emergence of such systems represents a turning point not just for security professionals, but for everyday users. “We have been closely monitoring how AI is reshaping the threat landscape, and Claude Mythos represents a moment that every user, not just the cybersecurity industry, needs to understand,” Singh said.The dual-use nature of AI is at the heart of the concern. The same capability that strengthens defences can just as easily be weaponised. “The same capability that finds a 27-year-old vulnerability in hardened infrastructure is the capability that, in the wrong hands, turns every unpatched system into an open door,” Singh added.Cybersecurity firm Check Point Software Technologies echoed the warning. Sundar Balasubramanian, MD, India and South Asia, for Check Point, says, AI is “dramatically lowering the barrier to entry for cyber attackers,” enabling even less-skilled actors to identify and exploit vulnerabilities. He added that defensive tools can be repurposed offensively, compressing the traditional gap between attackers and defenders. Jayant Saran, partner, Deloitte India, described this as a “changed reality,” where organisations must prepare for risks that were previously invisible. He called AI a “double-edged sword…that cannot be reversed,” highlighting an accelerating race between those securing systems and those attempting to break them.In India, the risks are amplified by scale. From UPI to banking and govt platforms, millions depend on digital infrastructure – much of it built on legacy systems. These systems are often slower to patch, harder to monitor, and lack continuous threat intelligence, creating what Saran called an “asymmetric risk exposure.” Singh pointed out that this gap is especially critical in India, where legacy infrastructure serves hundreds of millions.Beyond cybersecurity, ripple effects could reach financial markets. Analysts say models like Mythos could automate parts of software development, testing, and security – core functions of IT services industry. While disruption may be gradual, labour-intensive outsourcing models could face pressure, while firms embracing AI may benefit.
Business
Could a digital twin make you into a ‘superworker’?
Firms say digital twins make staff more productive, but are they a potential legal minefield?
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Business
Netflix co-founder Reed Hastings to step down as chairman
Hastings set up the company in 1997, when it rented DVDs to customers and delivered by post.
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