Paytm founder and CEO Vijay Shekhar Sharma on Friday took to X (previously Twitter) to reward the Digital Personal Data Protection Act, stating that it has been “well articulated” and that “it is progress for India’s digital economy,” tagging Union Minister Rajeev Chandrasekhar and the IT ministry.
“Digital Privacy and Data Protection law passed in parliament catapults us towards a strong Trillion $ #DigitalIndia economy. It is very well articulated, detailed and built by @Rajeev_GoI and India’s technology ministry @GOI_MeitY. This is exactly the kind of progress of our digital economy in the last 10 years, that inspires entrepreneurs to build for India, in India,” Sharma mentioned.
Paytm, based by Vijay Shekhar Sharma in 2010, is a multinational monetary expertise firm that enables digital funds and different monetary companies.
The Digital Personal Data Protection Bill, 2023, which curbs the misuse of non-public info by on-line platforms, acquired assent from President Droupadi Murmu on Saturday to change into a legislation after being handed in each the homes of the Parliament, through the just lately concluded Monsoon Session.
Truecaller CEO on Data Protection Bill
After the invoice was handed in each Houses of Parliament, the co-founder and CEO of Truecaller, Alan Mamedi, issued an announcement saying their firm “welcomes the new data protection bill” and that the provisions of the invoice are a “great addition” to their mission of offering a safer expertise for purchasers. Truecaller is usually used for ‘caller identification’ functions and requires a regular cellular quantity for registration with the service.
“We welcome the new Digital Personal Data Protection Bill in India that provides a modern, straight-forward and comprehensive privacy framework. Truecaller has been helping Indian consumers to have a safer experience for the past 14 years with GDPR-like rights to protect the consumer, and we believe that the Digital Personal Data Protection Bill is a great addition to that mission across the whole Internet. We stay committed to our mission of making communication safe in India and around the world and will comply with all provisions of the upcoming regulations. We are positive about the bill, which provides clarity and long-term conditions, and our assessment remains that the new law will not affect the user experience in any significant manner,” Alan Mamedi mentioned in his assertion.
A fast take a look at provisions of Digital Personal Data Protection Act
-The Digital Personal Data Protection (DPDP) Act goals to safeguard the privateness of Indian residents and penalty of as much as ₹250 crore on platforms misusing or not securing digital information of the people.
-The legislation outlines how corporations ought to deal with customers’ information stating that the federal government can ask corporations for info and instruct content material blocking primarily based on recommendation from a knowledge safety board appointed by the Union authorities. Users even have the suitable to right their private information.
-It defines ‘personal data’ broadly, masking info figuring out a person, and ‘digital personal data’ refers to private information in digital type.
-The legislation amends the Right to Information Act of 2005 (RTI), eradicating exemptions on disclosing private info for public curiosity. The present RTI Act lets public authorities disclose private info, like officers’ salaries, when it serves public curiosity.
-Union minister of knowledge and expertise Ashwini Vaishnaw, addressing the Lok Sabha, had mentioned that the invoice imposes obligations on non-public and authorities entities concerning each citizen’s information assortment and processing. Vaishnaw added that the invoice had undergone substantial public session earlier than being introduced within the House.
Source web site: www.hindustantimes.com
