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.
Bu hikaye Financial Express Mumbai dergisinin August 02, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Financial Express Mumbai dergisinin August 02, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Murdoch ally helps Ambani build media empire in India
SOHEE KIM PR SANJAI
Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?
GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.
Nestle adds sugar to infant milk and cereal, finds report
A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.
India-made Daimler's electric mini truck to hit the road soon
INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.
Samsung eyes ₹10,000 cr from India TV biz this year
SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.
Microsoft AI Copilot speed boost for coding
WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.
US, China debt pose risks for global public finances: IMF
THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.
Language models in consumer tech
This move is designed to ensure better user experience & privacy
'Data centres' energy use doubles every four years'
Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.
Vi FPO: Foreign players invest big; about ₹5,400 crore raised
GQG, Fidelity buy almost 40% of the anchor investor portion
