![]() Through our Q&A, Basu explained the promising benefits of results-based financing and the allure and potential risks for these public-private partnerships.īasu worked on the world’s first ever Development Impact Bond (DIB) for education in Rajasthan, India. The author is an SVP and Head – International Research Practices at Hansa Research Group.Photo by Pippa Ranger/Department for International Development.Ī year ago, Global Business Coalition for Education sat down with Ranajoy Basu, Partner at member company Reed Smith, to demystify the buzz around impact bonds. Does this advise them – When people aren’t really bothered about data privacy, what’s the hurry in drafting a policy then? Why fix something that’s not broken? So, the consumer’s evident lack of concern (or may be awareness?), about the data privacy issues, might explain the Indian government’s relatively sluggish pace on the issue. OTHERS: Others have either not received any notification or more likely ignored the notification altogether.Only a minuscule 2.5% actually read the policy and then disagreed. DISAGREE: Those who did not agree to the changed policy, seemingly significant at 48%, did not necessarily indicated their aversion towards the app, rather – it is their indifference.Rest of them agreed even without consideration about the potential impact of changed policy. AGREE: Out of 52% who agreed to the changed policy, only 25% actually read the policy.The leading messaging app users seem to be divided between agreeing and disagreeing to the policy change. The action taken by different countries suggest that there is a need to activate a strong Data Privacy Act in India to safeguard the information of their citizens and protect their data privacy, whatever changes happen in the Web world.Ī quick poll conducted by Hansa Research revealed an interesting aspect of the Data Privacy policy, from the consumer’s perspective. Not forgetting, while other countries are still in process of making their Privacy Laws, China published the first draft of its Personal Information Protection Law (PIPL) for public comment on 21 October 2020, which was their answer for GDPR, and too specific to rules in China. Also, outside of its own country specific legislation, the US and the EU have adopted the EU-US Privacy Shield Framework. Further, Australia, New Zealand, Hong Kong, and Japan have modelled their own data protection laws. At user’s front, what percentage of consumers are really reading and trying to understand the entire message of such privacy policies (India’s Literacy rate is 77.7%)? If they read it properly, what is the level of awareness people have about their Privacy rights? Do they know their rights to accept or refuse such terms? Is it just the word of mouth that spreads to create news and compel masses to follow others blindly to take any action (in this case to either delete or retain an app or even download a new one as replacement)?Īs understood from various information sources, there are only 12 non-EU countries that have data protection laws considered adequate by the EU (Andorra, Argentina, Canada, Faroe Islands, Guernsey, Israel, Isle of Man, Jersey, New Zealand, Switzerland, Uruguay and the US).At government’s front: Is it the insufficiency of information which is pending from user’s front – example: user’s reaction of acceptance or rejection to any acts or policies? If the government receives timely feedback from their citizens, will it help them to establish/implement any act faster? Or there is something else that is missing?.This raises some pertinent questions, from both perspectives. However due to insufficient information, the bill is still pending. The bill was clearly a step in the right direction. The Personal Data Protection Bill, 2019 (“PDPB”) was introduced in Lok Sabha by the Minister of Electronics and Information Technology – to provide protection of privacy of individuals relating to their Personal Data, and to establish a Data Protection Authority of India for the said purposes and the matters concerning the personal data of an individual. It is not so that such acts have not been thought about in the country. The only existing act is Information Technology Act, 2000 (IT Act), which gives grieved individuals a right to compensation for improper disclosure of personal information. At present, there are no such data protection acts in India. The panic would not have come into being, if we had a data protection law similar to GDPR. While the users in EU are enjoying the app with no such policy update, it has become a strong concern for users in India. How businesses can ensure maximum output during lockdown
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