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1 in 3 Indian Organisations Facing Longer Downtimes and Higher Financial Costs from Security Breaches

Organizations in India have made significant improvements to their cybersecurity postures, in the last year

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Indian, Organisations, Financial
Longer downtimes often result in higher financial costs. Pixabay

Nearly one in three Indian organisations are facing longer downtimes and higher financial costs from security breaches and 24 per cent of firms felt a financial impact of $1 million or more in the past year in the country, a report said on Thursday.

Nearly 37 per cent of companies in India experienced a downtime of over 9 hours after their most severe breach in the past year, compared to just 30 per cent globally, according to Cisco’s “2019 Asia Pacific CISO Benchmark Study”.

Longer downtimes often result in higher financial costs.

“Organizations in India have made significant improvements to their cybersecurity postures, in the last year. However, high workloads and alert fatigue continue to be a big challenge,” said Vishak Raman, Director, Security Business, Cisco India and SAARC.

Indian, Organisations, Financial
Nearly 37 per cent of companies in India experienced a downtime of over 9 hours after their most severe breach in the past year, compared to just 30 per cent globally. Pixabay

“Hence, enterprises in India are looking at increasing the level of automation in their security strategy as well as opting for an integrated end-to-end solution to secure their infrastructure,” Raman added.

According to the study, 46 per cent of respondents reported receiving more than 5,000 threat alerts a day; however, 43 per cent of them went unattended, compared to 39 per cent in 2018.

Of the threats that were investigated and found to be genuine, only 41 per cent were remediated (down from 52 per cent in 2018).

“Hackers are no longer just targeting IT infrastructure but have started to attack operational technology infrastructure, intensifying the challenge for companies,” the report said.

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In India, 25 per cent of respondents have already experienced an attack on their operational infrastructure (versus 21 per cent globally), and 34 per cent expect this trend to increase in the next year.

When asked how challenging it is to manage a multi-vendor environment, 89 per cent said it was somewhat or very challenging to orchestrate multiple vendor alerts.

“This is in line with the global trend, with 79 per cent of respondents across the world highlighting this as an issue,” noted the report based on responses from 2,000 security professionals from across the APAC region. (IANS)

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Survey Reveals that Indian Youth Prefer Job Stability Over Salary

79 per cent of the survey respondents were from tier 2 and tier 3 cities, the study revealed

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Youth
Research reveals that job security, followed by a healthy work-life balance, drives Indian youth to opt for banking and government jobs. Pixabay

A survey on Monday revealed that job security, followed by a healthy work-life balance, drives Indian youth to opt for banking and government jobs.

Based on the responses from 5000 banking and government jobs aspirants across the country, the survey from the online competitive exam preparation space — Oliveboard found that 44.3 per cent respondents voted for job stability, while 36.7 per cent chose better work-life balance over other popular considerations, such as good salary (11.1 per cent).

79 per cent of the survey respondents were from tier 2 and tier 3 cities, the study revealed.

“When we speak of the aspirations of Indian youth, it is important to look beyond the mega cities, teeming with MNCs and startups. The majority of Indians live in small towns and villages, where public sector jobs are most sought after,” said Abhishek Patil, CEO and Co-founder, Oliveboard.

Youth
When we speak of the aspirations of Indian youth, it is important to look beyond the mega cities, teeming with MNCs and startups. Pixabay

“Our survey sheds light on the dreams and motivations of this oft-ignored section of society,” Patil said.

According to the survey, 23 per cent of the respondents opted for a mock test in Hindi instead of English.

In terms of preferred mode for exam preparation, 58.7 per cent voted for online mock tests, while YouTube classes and videos (44.5 per cent) came second, and traditional coaching institutes (8.4per cent) were the last choice.

A majority of the candidates (39.4 per cent) prepare for three or more competitive exams at the same time, the study said.

The survey also found that access to online coaching for competitive exams, such as JEE, NEET, Banking, SSC and GATE, has gained greater momentum.

Youth
Job security, followed by a healthy work-life balance, drives Indian youth to opt for banking and government jobs. Pixabay

Online learning and personalised education tools are replacing traditional coaching methods.

Social media is definitely a game-changer, offering easy access to discussion forums and study groups.

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According to the data, Telegram groups (31.5 per cent), WhatsApp groups (31.5 per cent) and Oliveboard discussion forum (27.1 per cent) are the most popular platforms to interact with peers and educators. (IANS)