Friday, 30 December 2011

Hackers, IT units focusing on smartphone security


* Mobile devices key security worry for TMT firms-Deloitte
* Sales of smartphones outpaced PCs in 2011
* Flaw in GSM standard gives criminals access to any phone-researcher
By Tarmo Virki
BERLIN, Dec 30 (Reuters) - Mobile phones, long seen as safe amid rising threats to computer security, have become a key target for hackers and an increasing worry for corporate IT departments.
While the first mobile virus dates back to June 2004, risks from hackers remained limited because of the relatively small size of the market.
But this has changed recently with the surge in the smartphone segment, which this year outgrew the PC market, and the new dominance of Google's Android software.
The emergence of mobile payments, which allows shoppers simply to swipe their phones at a cash register, is whetting the interest of hackers and data thieves.
"Mobile security has become a major concern since smartphone transactions are now of much higher value, including corporate data access, managing personal finances and online purchases," said Steven Nathasingh, chief of U.S. research firm Vaxa Inc

news Tendulkar rises, Dravid slips in latest ICC rankings

conic Indian batsman Sachin Tendulkar rose a couple of rungs to be joint fourth but fellow veteran Rahul Dravid dropped out of the top 10 in the latest ICC Test rankings issued on Friday.

     
Tendulkar, who scored a half century in the opening MCG Test defeat
against Australia, shared the fourth spot with South African all-rounder Jacques Kallis, while Dravid slipped to 11th after dropping a couple of spots in the latest list, the ICC said in a release here.
Among the bowlers, pace spearhead Zaheer Khan was the only Indian in the top-10 at an unchanged sixth position.
Among the Australians, fast bowler Peter Siddle, who took three for 63 and three for 42 in Australia's 122-run victory, jumped five places to seventh, where he is joined by Sri Lankan Rangana Herath.
Herath claimed match figures of nine for 128 which turned out to be the cornerstone of Sri Lanka's 208-run victory over South Africa yesterday.
Australia fast bowlers Ben Hilfenhaus and James Pattinson have also moved in the right direction. Hilfenhaus, who took five for 75 and two for 39, has gained seven spots in the rankings and now sits just outside the top 20 in 22nd position.
Man of the match Pattinson has been rewarded for match figures of six for 108 with a jump of five places which puts him in 31st spot.
There is something to cheer for young India fast bowler Umesh Yadav and South Africa's debutant Marchant de Lange.
Yadav has moved up five places to 42nd spot after figures of three for 106 and four for 70 while de Lange has entered the list in the 51st position after figures of seven for 81 and one for 45.

Siddle said he remembers the second evening when Tendulkar walked out to take the first strike and upper cut his first delivery over slips for a six.
"It was the edge obviously. Jokes apart, it was a good stroke, you can't do much about it. It's a good shot he played, someday he could also edge it to wicketkeeper and on his day carry it over fence for six," he said.
The sturdy Victorian fast bowler needs just three wickets to complete his 100 in Tests. His 97 wickets have come from 28 Tests at an average of 30.78 with four five-wicket hauls.
He also has a hat-trick to his name, against England at Brisbane, on his birthday last year.
Siddle put down the success of Australia's bowling in recent times to the execution of plans that the bowlers are able to do in the middle as a unit.
"It's the pressure we build. You bowl a few short deliveries to build pressure and stop them moving their feet. It paid off but it can go either way. We need to stick together as a bowling unit and build up pressure."
In trying to build pressure, Siddle and Pattinson, in particular appear to go overtly aggressive but the former said everyone in the team knows where to draw the line.
"We are fired up and determined on the field. Like when Dravid was bowled off a no-ball, I was fired up. But we know how far we can go.
"We go out there and play hard and fair. Its just how it comes across. We look to get wickets all the time," he said.
Siddle believed his team had moved on from Hobart and is getting better as a unit.
"We had a disappointment at Hobart. But we are going forward. Batters are also getting there. We are working as a unit. The group is upbeat and comfortable with each other. There's still plenty to come.
"Presently, I am feeling good, strong and healthy. I really had a lot of injuries in the past. The big onus is on me at the moment to try and do things right," he said.
Ben Hilfenhaus, meanwhile, heaped praises on Siddle, especially applauding the Tasmanian fast bowler's ability to build up pressure while running into the wind.
"His consistency with his line and the pressure he builds from the other end is amazing. He bowled into the breeze throughout the match and build up pressure from other end."
Hilfenhaus picked up seven wickets from the match including a fiver in the first innings. He also made 19 and 14 from his two innings.
The teams now head to Sydney where, in all probability, a good grassy wicket will be there to help the hosts yet again.
Aussies, who have included fast bowler Ryan Harris in the 12, could even opt to play with four quick bowlers and drop off-spinner Nathan Lyon.
"The wicket has changed a bit and become better for the bowlers. But we still have to go out and do what we did here. We need to be patient, keep our lines. It has paid off for us in the last few months and we need to continue it.
"He (Lyon) bowled well, he's an attacking bowler. The MCG track didn't help spinners at all. He could take 5-6 wickets in the next innings."

news Tendulkar rises, Dravid slips in latest ICC rankings

conic Indian batsman Sachin Tendulkar rose a couple of rungs to be joint fourth but fellow veteran Rahul Dravid dropped out of the top 10 in the latest ICC Test rankings issued on Friday.

     
Tendulkar, who scored a half century in the opening MCG Test defeat
against Australia, shared the fourth spot with South African all-rounder Jacques Kallis, while Dravid slipped to 11th after dropping a couple of spots in the latest list, the ICC said in a release here.
Among the bowlers, pace spearhead Zaheer Khan was the only Indian in the top-10 at an unchanged sixth position.
Among the Australians, fast bowler Peter Siddle, who took three for 63 and three for 42 in Australia's 122-run victory, jumped five places to seventh, where he is joined by Sri Lankan Rangana Herath.
Herath claimed match figures of nine for 128 which turned out to be the cornerstone of Sri Lanka's 208-run victory over South Africa yesterday.
Australia fast bowlers Ben Hilfenhaus and James Pattinson have also moved in the right direction. Hilfenhaus, who took five for 75 and two for 39, has gained seven spots in the rankings and now sits just outside the top 20 in 22nd position.
Man of the match Pattinson has been rewarded for match figures of six for 108 with a jump of five places which puts him in 31st spot.
There is something to cheer for young India fast bowler Umesh Yadav and South Africa's debutant Marchant de Lange.
Yadav has moved up five places to 42nd spot after figures of three for 106 and four for 70 while de Lange has entered the list in the 51st position after figures of seven for 81 and one for 45.

Siddle said he remembers the second evening when Tendulkar walked out to take the first strike and upper cut his first delivery over slips for a six.
"It was the edge obviously. Jokes apart, it was a good stroke, you can't do much about it. It's a good shot he played, someday he could also edge it to wicketkeeper and on his day carry it over fence for six," he said.
The sturdy Victorian fast bowler needs just three wickets to complete his 100 in Tests. His 97 wickets have come from 28 Tests at an average of 30.78 with four five-wicket hauls.
He also has a hat-trick to his name, against England at Brisbane, on his birthday last year.
Siddle put down the success of Australia's bowling in recent times to the execution of plans that the bowlers are able to do in the middle as a unit.
"It's the pressure we build. You bowl a few short deliveries to build pressure and stop them moving their feet. It paid off but it can go either way. We need to stick together as a bowling unit and build up pressure."
In trying to build pressure, Siddle and Pattinson, in particular appear to go overtly aggressive but the former said everyone in the team knows where to draw the line.
"We are fired up and determined on the field. Like when Dravid was bowled off a no-ball, I was fired up. But we know how far we can go.
"We go out there and play hard and fair. Its just how it comes across. We look to get wickets all the time," he said.
Siddle believed his team had moved on from Hobart and is getting better as a unit.
"We had a disappointment at Hobart. But we are going forward. Batters are also getting there. We are working as a unit. The group is upbeat and comfortable with each other. There's still plenty to come.
"Presently, I am feeling good, strong and healthy. I really had a lot of injuries in the past. The big onus is on me at the moment to try and do things right," he said.
Ben Hilfenhaus, meanwhile, heaped praises on Siddle, especially applauding the Tasmanian fast bowler's ability to build up pressure while running into the wind.
"His consistency with his line and the pressure he builds from the other end is amazing. He bowled into the breeze throughout the match and build up pressure from other end."
Hilfenhaus picked up seven wickets from the match including a fiver in the first innings. He also made 19 and 14 from his two innings.
The teams now head to Sydney where, in all probability, a good grassy wicket will be there to help the hosts yet again.
Aussies, who have included fast bowler Ryan Harris in the 12, could even opt to play with four quick bowlers and drop off-spinner Nathan Lyon.
"The wicket has changed a bit and become better for the bowlers. But we still have to go out and do what we did here. We need to be patient, keep our lines. It has paid off for us in the last few months and we need to continue it.
"He (Lyon) bowled well, he's an attacking bowler. The MCG track didn't help spinners at all. He could take 5-6 wickets in the next innings."

The Big Players of Bollywood, 2011


Aamir Khan in Delhi Belly
Next
Raja Sen 

Raja Sen feels 2011 may be remembered as the year that laid down Bollywood's new pecking order.
For the better part of the last decade, it's been almost unanimously acknowledged that Aamir Khan knows what he's doing. Sure, he might seem too far out on a limb, but as the pieces fall, he always ends up topping himself and standing taller than before.
So the industry -- this industry that relies so heavily on what Conventional Wisdom and Trade Pundits say -- has, incredibly enough, thrown in the towel and given up trying to beat Aamir.
This year the two films Aamir produced, Dhobi Ghat and Delhi Belly, were radical products for the Indian market, and could not be more dramatically different from each other.
The first, directed by Khan's wife Kiran Rao, was a serene and artistic look at Mumbai, with understated performances and music. It felt a bit like a film school graduation movie, except with excellent production values, and Khan himself starred as a scowling artist.
The second, directed by Abhinay Deo, was anything but mellow. A loud and sloppy kerfuffle that made an anthem out of a swearword and stood apart as the most gloriously foul-mouthed Hindi film of all time, where Khan starred as a 1980s movie-star caricature.
The first won him -- well, not really critical encomiums -- at least brownie points from the missus, as well as some money where there would otherwise have been none at all, for a half-English arthouse film in a country of Dabanggs.
The other was one of the year's most lauded hits, one slapped on the back for breaking new ground. (Yes, it essentially swore a lot, but one of the things Aamir invites is hyperbole.)

Chameli's Lavni dance takes Bollywood by storm


New Delhi: After the sizzling 'Sheila Ki Jawani' number, Katrina Kaif is back as 'Chikni Chameli' in Agneepath. The film will be released on January 26, 2012. The lately launched number has already become a rage. The unique blend of traditional Lavani steps and sexy Bollywood moves makes 'Chikni Chameli' impressive.
When people start copying you, it is an indication of your success. Same has happened in the case of 'Chikni Chameli' as well. Shweta Bhardwaj who made her Bollywood debut with Mission Istaanbul will also be seen grooving to a Lavani number in Chaalis Chaurasi. Actors like Kay Kay Menon and Naseeruddin Shah will be seen matching steps with Shweta in the film. Her red 'choli' and Maharshtrian saree looks highly inspired from Kat's outfit in 'Chikni Chameli'. Chaalis Chaurasi will hit screens on January 13, 2012.
Though Shweta looks stunning in the number, but beating Katrina Kaif is no easy task.
Chameli
Lavani is a form of Maharashtra's folk dance. Bollywood has an old association with this particular dance form. Be it Helen in 'Mungda' song or Madhuri Dixit in 'Humko Ajkal Hai', both the numbers score high on the popularity meter. Madhuri tried to encash the popularity of Lavani again with 'Me Kolahpur Se Ayi Hoon' in Aanjaam.
Lavani is one of the most popular dance forms of Maharashtra. It is known for its powerful rhythm and erotic sentiments. Expressions play a key role in Lavani.
In an interview lately, Katrina Kaif said that 'Chinkni Chameli' wasn't a cakewalk for her as she is not used to the dance form. Many people feel that Katrina looked more sensuous as 'Sheila' in comparison to 'Chikni Chameli'. Whatever be the case, 'Chikni Chameli' is topping the charts at the moment and so is Katrina Kaif. More than Priyanka Chopra, who's the lead heroine of 'Agneepath', people are talking about Katrina's item number.

I charge what I deserve: Bipasha Basu


I charge what I deserve: Bipasha Basu
Bipasha BasuMore Pics
Asking for a crore for an item song or not performing for New Year, Bipasha Basu does some straight talking as she looks back on 2011

Bipasha Basu is not looking back with regret or nostalgia. She's looking forward to 2012, what with her birthday (on January 7) and her latest film, and of course, December 31, when she's going to have that "one day when I can let my hair down."

So, no New Year's Eve performance like previous years? "No," says Bips, "Also, no regrets this year. But then, I don't like to look back. But what I remember is that this year has gone by very fast, I have travelled a lot, I have made too many friends, it's getting difficult to spend time with them all. I had a lot of fun this year. I have laughed a lot... Yes, 2011 has been amazing for me." She's also ended a longstanding relationship... Slightly curt, she says, "The relationship was gone way back before that - it's been more than a year now. There's no point in discussing it. Right now, it's just hard work for me."

But why no year-end moolah-raking performances this time? "I've done it for the last four years. This year, I wanted to take a break. There was also the promotional tour for "Players", and it would've been impossible to build a show into this itinerary. So I thought this New Year's, I'd rather be with friends and family, just let my hair down for that one day," she replies, and adds that she doesn't get to party much in India. "I don't get to do it much because most of the time, I'm working. But I'm a very dinner-with-close-friends kind of person. I do love to go out dancing, but in India I can't, so when we are abroad, sometimes the unit heads out and goes partying - so that's when I go clubbing all night."

There was news about the Telugu remake of " Dabangg", " Gabbar Singh", for which she was approached to do the Tamil "Munni Badnaam". Reportedly, she asked for a crore - is that true? "I demand exactly what I deserve," comes her reply, before she goes on to explain, "I am not going to get into the nitty-gritties, because figures are very loosely quoted in our industry. Sometimes it is highly exaggerated, and at other times, it is quoted as quite low. Finally, the job that we do, if we are paid the amount we ask for, it is because we deserve it. I'm not answerable to anyone about how much I charge for what and why I do it."

And what's her role like in "Players"? "I play a girl called Rhea - an automobile expert and the best thief in town. She is all woman, knows how to use her charm and con people..." Quite like Bipasha in real life, barring the con bit, is it? "Oh no! I am so pathetic with machines in real life, it's not a joke. I'd rather walk, or even run, than take the car out myself. I like to be driven around. Yes, I like fancy cars, and fancy bikes too. It's my dream to learn how to ride one myself, but for now, I am content being driven around. And, for the record, I don't con anyone - I never have. I am what I am and what you see is what you get. And as for charming, I am said to be charming - people do tell me that, but I don't know about it myself, I think a little bit of it must be true - not so bad, huh?"

And wearing the bikini - that must've made her feel attractive as well... "It's all positive talk, so it's great - if my carriage in a bikini is great, and if I do it gracefully, then I think... that's it. In a film like "Players", a sexy thriller - it's like a James Bond film where you can wear a bikini and look in sync with the film, it doesn't look forced. And the character I play is like that. Also, I wore a bikini on screen when it made sense to me. I would not do it for anybody on earth, and did not, till now. We did a lot of prepping for it. Six weeks of training - I followed a discipline - you know, to look right on screen. There's a fine line - you can either look vulgar or look sexy, and I would always opt to look sexy rather than going in the other direction. And for that, more than anything else, you have to have the trust the directors, and I trusted the DOP. It has to be about your style and your comfort level - you have to be as easy as you are in a pair of jeans in the bikini - only then will it work," explains Bipasha.

But what's it with the 'trusting the directors' bit? "Well, how such scenes turn out depends entirely on the sensibility of the director. Cheesy camera angles can spoil it. Also, you have to have an inner sense as an actor - the intentness to do what you want to do in front of the camera. Everything cannot be spoon fed. I did the shots, and I wanted to do them, whether the frontal shots or the side pose. I have been into bodies and fitness, so I am very critical about how a body should look in terms of flaunting it. I would never fall down and roll and do a cleavage shot - I have seen those in Bollywood films and those are things I cannot tolerate. I wouldn't do that. That's not me - I'd rather look sharp and sexy and stylish just doing a walk."

Ok. On to "Singularity" then. When do we get to see what she's done with Josh Hartnett? "I have no idea about when the film is coming to India. I am to fly down to London to see it, I have no dates right now to do so. I hope to see it End of Jan, and sometime in summer, you will all see it," says Bipasha. And as for Hollywood career, Bips says, "I am definitely not planning a move to Hollywood, but if anything comes my way and I can entertain a global audience, I am open to it. But I am not open to flying down and living in LA for two-three months. I am accepted here and I am very happy doing the films I do here. "

And 2012 for her will be about? ""Players", "Raaz 3", one of the most challenging roles of my life, and in April, I want to shoot my second DVD. So, 2012 is all about work for me," says Bipasha.

RIM slashes price for its BlackBerry Playbook for Indian consumers, range starts from Rs 13,490

NEW DELHI: RIM had announced last month that they would be writing down the value of the Playbook tabletin an attempt to drive sales, as the company would fall short of its financial targets. 

In November itself, BlackBerry dropped the price of Playbook in the US and Canada as a 'Black Friday' deal to US$200 (around Rs 11,000). Now as a New Year offer, they have offered a similar deal for Indian consumers. The Playbook is now selling in India for 13,490 (16GB), 15,990 (32GB) and 24,490(64GB), but only till December 31. 

Why is BlackBerry doing this? First, as the financial year comes to an end, they want to try and reach somewhere close to their financial targets by selling off playbook tablets and India can play a significant role in it. After all, according to Brand Wagon-Synovate best brands survey 2011, BlackBerry has been voted as the second-most aspirational brand in India. 

On top of it, India being a price sensitive market is expected to react positively to a big price drop, that too on a premium tablet. Secondly, BlackBerry 10 OS devices will be arriving towards the end of 2012. Thus, new tablets are on the way and so the company needs to get rid of their existing stock. 

The pricing makes the tablet very tempting for the consumer. The Playbook has a dual core processor, gorgeous display and fantastic multi-tasking capabilities - a huge leap from the budget tablets running on single core processors. 

If you have a BlackBerry phone, pair it up and access all your phone content on the large screen. Not to forget that once OS 2.0 comes out in February, it will add an Android emulator on the device through which a number of Android apps and games will run on PlayBook. 

Till then, there is a lack of apps, but for general browsing, social networking and playing games,it is a great deal.

India to borrow Rs 40000 cr more in 2011-12: RBI


New Delhi: India will borrow an additional Rs 400 billion through dated securities in the current fiscal year ending in March, the RBI said on Friday.
The government will borrow 140 billion rupees each in January 2-6 week, January 9-13 week and January 16-20 week, it said in a statement.
The government will borrow 130 billion rupees each in January 23-27 week and January 30-February 3 week.
India to borrow Rs 40000 cr more in 2011-12: RBI
It will also borrow Rs 120 billion each in February 6-10 week, February 13-17 week, February 20-24 week and March 5-9 week.

Rupee loses 3 paise; sheds 18.79 per cent in 2011


The Indian rupee on Friday shed a marginal three paise to settle a roller-coaster 2011 at Rs. 53.10/11 against the U.S. dollar.
Forex dealers said sluggish dollar overseas and sustained capital inflows restricted the rupee’s fall.
At the Interbank Foreign Exchange (Forex) market, the local currency commenced lower at 53.15/16 and later moved in a range of 53.36 and 53.02, before settling at 53.10/11.
In the calendar year 2011, the rupee has crashed by 18.79 per cent.
Dealers attributed the sustained fall in the rupee’s value for major part of the year to the euro zone debt crisis.
Investors preferred to buy dollar as a safe investment, especially at times of crisis.
The BSE benchmark Sensex fell for the fourth straight session to 15,454.92 points, which mainly weighed on the rupee.
In addition, continued dollar demand from importers, mainly oil refiners, to meet their month-end requirements put pressure on the rupee.
FIIs, which have been the net buyers worth $181.36 million in four continuous sessions since December 23, turned net sellers on December 29 and sold shares worth $115.61 million, as per SEBI data.
The rupee premium for the forward dollar remained weak on sustained receiving by exporters.
The benchmark six-month forward dollar premium payable in June eased to 162-164 paise from 165-167 paise on Thursday and far-forward contracts maturing in December also finished down at 266-268 paise from 271-273 paise previously.
RBI fixed the reference rate for the US dollar at Rs 53.2660 and for the euro at Rs 68.9005.
The rupee fell back against the pound sterling to settle at 82.04/06 from Thursday’s close of Rs 81.63/65 and also reacted downwards to Rs 68.74/76 per euro from Rs 68.38/40 previously.
It dropped against the Japanese yen to Rs 68.64/66 per 100 yen from last close of Rs 68.17/19.

Weak rupee to hit profits of cos with high ECB exposure: Govt


NEW DELHI: The Finance Ministry today warned that the weakening rupee could hit the profitability of the companies that borrowed heavily from the overseas markets through ECBs.

"The increase in external commercial borrowings(ECBs) reflects some concern, given that the depreciation of the rupee leads to higher debt service burden in Rupee terms that could impact profitability and the balance sheets of corporate borrowers," the Finance Ministry said in a statement.

Between end-March 2006 and end-March 2011,ECBs have registered a compound annual growth rate of 27.4 per cent.

Corporates resorted to ECBs to raise funds at competitive rates against the back-drop of high interest rate regime in the country.

The rupee has depreciated by 15-16 per cent against the US dollar due to various external as well as domestic factors.

The ministry said that as of September end, India's external debt stock was USD 326.6 billion, an increase of 6.6 per cent over USD 306.4 billion at the end of March.

"The rise in external debt is largely attributed to increase in external commercial borrowings, export credits and short term debt," the statement added.

Short-term debt accounted for 21.9 per cent of India's external debt at end-September 2011, while the rest (78.1 per cent) was long-term.

Component-wise, the share of ECBs stood at 30.3 per cent in total external debt followed by NRI deposits (16.0 per cent) and multilateral debt (15.0 per cent).

The shares of Government (Sovereign) and non-Government in total external debt were 24.3 per cent and 75.7 per cent, respectively, at end-September 2011.

Further, the share of debt denominated in US dollar was the highest in country's external debt stock at 55.8 per cent, followed by the Rupee (18.2 per cent) and the Japanese Yen (12.1 per cent).

As per the ministry data, country's foreign exchange reserves provided a cover of 95.4 per cent to the total external debt stock at end-September 2011 while the cover was 99.5 per cent at end-March 2011.

The ratio of short-term external debt to foreign exchange reserves stood at 22.9 per cent at end-September 2011, as compared to 21.3 per cent at end-March 2011.

"Other indicators of India's external debt remain within manageable limits," the statement added.

TCS overtakes RIL as country's most valued co

MUMBAI: Billionaire Mukesh Ambani-led Reliance Industries lost its position of the country's most valued company to the IT giantTCS, part of the salt-to-software conglomerate Tata group. 

As the share price of Reliance Industries Ltd(RIL) fell by 2.81 per cent to a multi-year low of Rs 692.90 today, the company's market valuation slipped to Rs 2,26,886 crore -- a shade below Tata Consultancy Services' Rs 2,27,282 crore. 

Consequently, RIL lost its long-held position (except for a brief period in August this year) of the country's largest company in terms of market valuation. 

In comparison to RIL's performance, TCSshares ended with a modest loss of 0.35 per cent at Rs 1161.25 and were earlier seen trading with a modest gain for most part of the trading session -- incidentally the last for 2011. 

The performance of TCS stock was also a shade better than the barometer index Sensex, which fell by 0.57 per cent. 

Earlier this month, RIL had also lost its position of the most influential stock in the Indian market to another IT giant Infosys

RIL had been briefly dethroned from its position of the country's most valued company twice in August -- first to Coal India Ltd and then to another state-run firm ONGC

RIL's market value slipped below that of TCS for the first time at around 2 pm this afternoon and the country's biggest software exporter managed to retain the lead at the end of the trading session. 

RIL has been among the best stocks to own in India for many years, but it continued to under-perform the overall market for most part of 2011, which has as such turned out to be a bad year for the stocks.

Criticism after India corruption bill vote delayed


India's opposition parties have bitterly criticised the government for its failure to put the controversial anti-corruption Lokpal bill to a vote in the upper house of parliament.
But the government insists that the opposition BJP was responsible for the bill not being passed.
The house was adjourned amid chaos after a debate stretched to midnight.
The BJP said the government had "orchestrated" the chaos as it was not sure it could pass the bill.
But Parliamentary Affairs Minister Pawan Kumar Bansal told reporters that if the BJP wanted the bill to have been passed, "it could have been passed without any problem".
"But they were not willing to co-operate. They would rather see the nation fail than the government succeed."
The Lokpal bill gives an independent ombudsman powers to prosecute politicians and civil servants.
The bill passed the lower house on Tuesday. It needed to be passed in the upper house on Thursday in order to become law.
The bill will now have to be revised and presented again.
The government said it had respected the constitution with the adjournment at midnight and that the people of India would know who was responsible for the failure to reach a vote.
But the BJP immediately called on Prime Minister Manmohan Singh to resign, saying his government had shown it was not fit to rule.
"The government has lost all moral right to continue in power. It should resign immediately," opposition leader Arun Jaitely told reporters.
"The [ruling] Congress [party] was never serious and committed to bring a strong Lokpal. It knew that it would never be able to get the bill passed in the lower house, so it choreographed the entire drama of debate which continued till midnight," he said.
'Moral defeat'
The ruling alliance has 94 members there and needed a simple majority of 122 MPs to ensure the passage of the bill.
Communist Party of India (Marxist) leader Sitaram Yechury said the adjournment was "big moral defeat" for the Congress party.
He said if the government was "serious about the passage of the bill, it should have taken the opposition parties in confidence".
Sukhendu Roy, a leader of the Trinamool Congress party, which is an ally of the ruling government, also criticised the adjournment of the vote, saying it was a "shameful" day for democracy and a result of "orchestrated chaos".
The ruling Congress party, however, said that with nearly 200 amendments to the bill demanded by the opposition it ran too late because the winter session of parliament ended at midnight.
Indian social activist Anna Hazare breaks his fast with a glass of juice offered by a child at the Mumbai Metropolitan Region Development Authority (MMRDA) recreation ground in Mumbai on December 28, 2011Mr Hazare has broken his fast, but pledged to protest against the bill
"How can a government pass a bill with so many amendments without studying it and examining it? It was a pre-planned move by the BJP to discredit the government," the junior minister for parliamentary affairs Harish Rawat told The Hindu newspaper.
The debate has not only been heated in parliament.
Leading anti-corruption campaigner Anna Hazare has called the bill "useless".
He had started another hunger strike but has since called it off and threatened instead to launch a campaign of civil disobedience that would fill the country's jails.
Mr Hazare and his supporters say that tougher measures are required in the bill if it is to prove effective at reducing the level of corruption.
Mr Hazare's main complaint is that the bill proposes keeping India's top investigation agency, CBI, out of the purview of the ombudsman.
A recent survey said corruption in India had cost billions of dollars and threatened to derail growth.