IN WHAT WOULD place a higher regulatory burden on Big Tech firms, the Personal Data Protection Bill, which will be tabled in Parliament during the ongoing session, will make it mandatory for companies processing high volumes of data to appoint an India-based data protection officer.
The government will notify Data Fiduciary or class of Data Fiduciaries as Significant Data Fiduciary based on factors like kind of personal data volumes they process and its sensitivity, extent of risks to the rights of individuals, public order of the state, security of the state, etc.
Besides the data protection officer, who will be the point of contact for the grievance redressal mechanism, significant data fiduciaries will also have to appoint an independent data auditor. The data auditor will evaluate the compliance of the Significant Data Fiduciary in accordance with the provisions of the Personal Data Act, as per the final draft Protection of the Bill.
Among key changes in the final version of the Bill from the draft is the reduction in the amount of penalties imposed on the companies for violating the provisions in case of a data breach.
THE GOVERNMENT has capped the penalty at ₹250 crore, while keeping the scope open for increase in amount to two times through a modification in the schedule. In the earlier version of the Bill, the government had specified the penalty at ₹500 crore.
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Denne historien er fra August 02, 2023-utgaven av Financial Express Mumbai.
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