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In this context, let me mention one point. India does not yet have a data privacy law (it relies on some interpretations of the IT Act). So people's data may be
by wtmt 7y ago
In this context, let me mention one point. India does not yet have a data privacy law (it relies on some interpretations of the IT Act). So people's data may be better protected by laws in other countries that have such laws (regardless of how comprehensive they are) than if the data were to reside in India.
The co-founder of Paytm (the CEO's brother) has been caught on video saying that it can provide all its customers' information in exchange for money. Oyo Rooms decided to funnel all hotel guest information to local police directly regardless of whether there was a crime or not and if the police requested for some data or not. There are many such instances where data privacy is not valued at all.
- gopkarthik 7y agoYes, I agree that India sorely needs comprehensive data protection laws. IIRC the IT rules act only concerns with sensitive personal information which includes bank accounts/cards. Though I'm not sure if individual transactions are covered under this. Given that MasterCard & Visa are only intermediary's between Indian companies and banks, Indian companies(PayTM, PayU, CCAvenue) already have access to all available data as the one who've initiated the transaction. In fact MasterCard/Visa processing the data outside the US actually increases the exposure of data and no amount of US data protection laws will help.