Page 40 - BANKING FINANCE November 2018

A

li a ili e ion or S ar u

he dra t la seeks to regulate kinds o data collected rocessed stored a start u engages in anual
disclosed an erson or entit i e rocessing o data as o osed to
e sona data hich identi ies details o a erson such as their na e auto ated eans and does not
contact address hone nu er e ail address etc and
i a e a turno er o ore than R
ens t e e sona data including ass ords inancial data health data lakhs in the receding inancial
io etric data etc ear and

ii Collect ersonal data or the
li a ili o e ro e in Da a rin i al
ur ose o disclosure to third
Dra aw n er o a e o a e
arties and
n ia ea in n ia er ea
iii rocess ersonal data o ore
Data ocated
than indi iduals in a gi en da
iduciar in ndia
in the receding onths
rocessor ocated
o erseas
hen certain co liance such as
ro ision o notice storage o
i in connection ith an usiness carried on in ndia or an s ste atic
li itation certain trans arenc and
acti it o o ering goods or ser ices to data rinci les ithin ndia or in
accounta ilit easures etc should
connection ith an acti it hich in ol es ro iling o data rinci les ithin
not a l
ndia
nless s eci icall e e ted such as in the case o outsourcing contracts o e e tion a aila le to uto ated
rocessing o data
a i Si ni i an Da a i u iar

an entit rocesses Da a S ora e
i arge olu es o ersonal data s a general rule a co o all ersonal
ii er Sensiti e ersonal data data and sensiti e ersonal data should
e stored on a ser er or a data centre
iii as a high turno er
in ndia
i Data that has a risk o har to the user
his rule rings additional cost o data
ses ne technologies or rocessing
storage and trans er to those ho
the entit is classi ied as signi icant data iduciar then the ha e to co l ha e their data outside ndia
ith additional re uire ents such as data rotection i act assess ents
record kee ing data audits and a ointing data rotection o icer to ensure n addition to this consent is re uired
co liance or data trans er to outside ndia ia
i Certain ro isions hich ould e
ainin Con en ro Da a rin i al Mo Cri i al re a ro ed the data
rotection authorit
n one ho does collection rocessing storage disclosure o ersonal or
sensiti e ersonal data o a user Data rinci al is re uired to take consent and ii o ern ent a ro es the location
na ed as Data iduciar ne ho rocesses such data is Data rocessor or organi ation or the trans er
iii the data rotection authorit
Consent o tained should ention the ur ose o collection and ould need to
s eci icall a ro es such a
ention nu erous as ects and hich is ost critical n or ation re uired to
trans er due to necessit
e ro ided the Data iduciar to the Data rinci le in the notice are
entioned in Section o the dra t la art ro the a o e the la talks

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