April 16, 2021
RBI Deputy Governor M Rajeshwar Rao×
It is the sharing and leveraging of customer-permissioned data by banks with third-party developers and firms to build applications and services. Open banking may potentially pose significant risks and concerns around financial privacy and data security, customer liability, cybersecurity and operational risks, among others, cautioned Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao.
Open banking is the sharing and leveraging of customer-permissioned data by banks with third-party developers and firms to build applications and services, including those that provide real-time payments, greater financial transparency options for account holders, marketing and cross-selling opportunities.
Summary
Data localization refers to various policy measures that restrict data flows by limiting the physical storage and processing of data within a given jurisdiction’s boundaries. Multiple countries have adopted localization policies to combat multiple concerns over the free flow of data. A vital question, then, is whether any particular variant of data localization would help the Indian government meet its multiple stated objectives for considering such a policy course.
There are four key types of localization variants. These include (a) conditional localization that entails a local storage requirement, (b) unconditional local storage requirements (for all personal data), (c) unconditional mirroring requirements (for all personal data), and (d) the unconditional free flow of data with bilateral/ multilateral agreements for data access and transfers. This paper breaks up these four variants further into a total of nine specific designs and evaluates which would best serve Indi
Why the Personal Data Protection Bill matters
Updated:
Updated:
April 12, 2021 14:45 IST
The proposed regime under the Bill seeks to be different from the existing regime which does not adequately protect users’ data
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The proposed regime under the Bill seeks to be different from the existing regime which does not adequately protect users’ data
The pandemic has forced more people to participate in the digital economy. More people have taken to digital channels to fulfill a variety of needs like purchasing groceries and accessing health services. Unfortunately, the number of personal data breaches from major digital service providers has increased worryingly in the same period. The recent alleged data breach at MobiKwik could stand to be India’s biggest breach with the data of 9.9 crore users at risk. Robust data protection regimes are necessary to prevent such events and protect users’ interests. Unfortunately, the existing data protection regime in
ISSUE DATE: April 19, 2021
UPDATED: April 9, 2021 22:47 IST
Illustration by Nilanjan Das
The latest Facebook data breach, which reportedly compromised the personal data of over 533 million users, including 6.1 million Indians, has once again focused attention on the social media behemoth’s apparent laxity in protecting the privacy of its users and, more importantly, lack of accountability towards them. In January, Alon Gal, chief technology officer at cybercrime intelligence firm Hudson Rock, discovered the leaked data when a user in a hacking forum advertised an automated bot that could provide phone numbers for hundreds of millions of Facebook users for a price. Now, the entire dataset, which includes details like phone number, Facebook ID, name, location, email ID, relationship status and bio, has been posted on the hacking forum for free.
Govt Scrapped Vehicular Bulk Data Deal Over Privacy Issues. But a German Firm Was Already Involved.
The partnership with German firm ManServ, in Fast Laneâs own written admission, included sharing of âvery sensitive informationâ.
Photo: Reuters/B. Mathur/Files
Read the first part of this investigation here.
New Delhi: Months after Indiaâs transport ministry allowed a New Delhi-based company access to data on Indian vehicle ownership and registration, the company went on to sign a separate and sensitive data sharing agreement with a German company, according to government documents obtained through RTI queries.
The Indian firm, in a letter to the ministry reviewed by