News digest: Squabble in SC, IIP growth, mobile data theft, and more

From mutiny in Supreme Court ranks to economic figures of December, BS brings you up to date with the latest news

Mutiny in SC ranks: 4 judges go to people's court against CJI Dipak Misra

Discontent simmering for some time came out in the open on Friday when four of the most senior judges of the Supreme Court held a press conference and assailed the functioning of the Chief Justice of India (CJI), Dipak Misra.

The main allegations related to the opaque workings of the collegium, which selects judges, and flouting of conventions regarding the assigning of cases. Read more

New Infosys CEO Salil Parekh starts stint with in-line Q3 numbers

Infosys Technologies met Street expectations by reporting 38.3 per cent year-on-year growth in third quarter profits to Rs 51.29 billion, aided by a one-time gain from a US tax reversal. Revenues of the Bengaluru-headquartered company at Rs 177.9 billion grew 6.5 per cent, on the back of improved staff utilisation and higher growth from digital deals, in a traditionally weak quarter ending December 31. Read more

Forget Aadhaar, your phone can reveal all your private details to hackers

What do you do when you buy a smartphone? Install Facebook and WhatsApp after the mandatory settings are put in place. While the next set of downloads involving third-party apps follows soon after, the catch is we rarely go through their permission policies. Read more

November IIP growth jumps to 17-month high; Dec inflation rises to 5.2%

India’s industrial output and headline retail price indices registered the highest growth since July 2016 — among the last crucial set of economic data before the Union Budget 2018-19.

The data released on Friday showed that the Index of Industrial Production (IIP), after slowing for two straight months, bounced back in November. Read more

Asset reconstruction companies to step up bad loan purchases in Q4

Asset reconstruction companies (ARCs) are expected to step up purchases of bad loans in the fourth quarter (Q4FY18) as the recovery environment improves and commercial compulsions force banks to clean up their books.

According to ARCIL, a Mumbai-based ARC, banks may put Rs 400 billion of non-performing assets (NPAs) up for sale this quarter. Read more