Lately the world is waking up to protect the interest of data subjects or data principles whose data is processed by entities, government, and individuals. All the countries of the world recognizes that Privacy is the fundamental right of the individual and that needs to be respected. With the introduction of GDPR in May 2018 the world has completely changed on how everybody looks at the data and processes. Now onwards it is not the possessor the owner of the data, but the data subject is the owner his/her data. Data subject decides how his/her data is processed and consumed. Consent of the data subject is a must now to collect, process, analyze and consume the data.

This has opened a whole new world of opportunities and challenges for the organization that processes data. Right from what are the compliance requirements, what steps needs to be taken and how to safeguard their own interest in the light of this upcoming India Personal Data Protection Bill. With hefty fine provisioned in the law board room discussions have gone hot on how to comply with multiple regulations either SEBI, RBI, IRDA, Exchanges, and Government and keeping the costs down. Also it needs to be understood that Data Privacy and Protection is not same as cyber security. Where latter means how you safeguard your data technically with appropriate technology, authentication and authorization mechanism. But Data Privacy and Protection means how you safeguard interest of your customers, employees, supplier and all individuals whose data you process and meet the obligations of the law respecting rights of the data subject.