“This new bill, after it is passed by Parliament, will protect the rights of all citizens, allow innovation economy to expand, and permit the government’s lawful and legitimate access in national security and emergencies like pandemics and earthquakes," said Rajeev Chandrasekhar, minister of state for electronics and information technology.
“The DPDP bill is a global standard—contemporary, future-ready, yet, simple and easy to understand," he said, adding that the bill was drafted after exhaustive consultations with a multitude of stakeholders.
The bill envisages penalties of up to ₹250 crore per instance in the case of a data breach, lower than the ₹500 crore penalty that was proposed in the earlier draft issued in November last year.
It further adds that the Centre will decide which companies will be deemed as “significant data fiduciaries" based on multiple factors, such as its “risk to the rights of the data principal (users)", “potential impact on the sovereignty and integrity of India", “risk to electoral democracy", “security of the State", and more.
A government official said on condition of anonymity that Section 10 of the bill, which mandates a significant fiduciary to have a local office and a data protection officer (DPO), was inserted “to make privacy provisions much stronger."
Bu hikaye Mint Mumbai dergisinin August 04, 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 Mint Mumbai dergisinin August 04, 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
India in economic sweet spot, inflation to moderate: Moody's
India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.
Incentive engine to drive modern ships
Subsidies for green, high-tech ships under ₹18,000 cr policy
Cement firms wage war on costs as competition soars
India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.
Saudi Arabia doesn’t have enough money for its futuristic city
The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.
EV adoption is a marathon, not a sprint: Audi India
The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.
India's trade gap with China soars in Apr-Oct
The country's green transition increases reliance on Chinese imports
14 nations eye India's generic drug model
Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports
India urges $1.3 tn annual climate grant
Intervening on behalf of like-minded developing countries (LMDCs), India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal (NCQG) till 2030.
Over 600 mn cyberattacks daily, AI can secure devices
Microsoft is developing a password-free authentication process to eliminate the risk of breaches
Small businesses ramping up cybersecurity, thanks to AI
Rising AI adoption is helping cybersecurity providers hike their marketable base in India
