With the rise of social media and the consolidation of many companies, like Microsoft buying LinkedIn and Facebook buying WhatsApp, the fear of misuse of your personal data by corporations increases.
This is not good for the end users and it’s not good for companies in general, because only by a level of trust there could be business. The GDPR rules in the EU are a good framework mandating transparency of the user’s personal data.
However did you know there is a such process in India as well?
Why does It matters?
If you are not aware of the new rules, there is a chance your company could pay huge fines!
India is a fast growing market and many companies and projects are targeting it! Which means there is plenty of chances a project and project manager to miss this critical new regulations.
And the penalties for not being compliant are severe!
(1)For entities classified as Type 1, the penalty may extend up to Rs. 5 crores or 2% of its total worldwide turnover of the preceding financial year, whichever is higher.
(2) For entities classified as Type 2, the penalty may extend up to Rs. 15 crores or 4% of its total worldwide turnover of the preceding financial year, whichever is higher.
 crore – ten million; one hundred lakhs, especially of rupees, units of measurement, or people.
A way Forward
Assign a data protection officer for your next project.
Make sure this person knows the regulations very well and has the authority to ask for the project to be accountable and compliant.
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