Obligations Of Data Fiduciary And Protection Of Data: An Analysis

Mayuri Taware, LLM, B.B.A. LLB, DCL, DFS, Assistant Professor at KLE Law College Kalamboli, Navi Mumbai

ABSTRACT:

The number of ways we use information has increased so dramatically in the twenty-first century that it is now widely referred to as the "information age." The reality of today's digital environment, practically is that almost every single activity that a person engages in involves some type of data transaction. The Apex Court of India in Puttaswamy judgment has stated the importance of data by giving examples of Uber, Alibaba, Facebook, Alibnb just by making use of data and not owning vehicles, no inventory, creation of content or real estate respectively are one of the huge companies in today’s world. Data is becoming an increasingly important and pervasive part of our lives. Data counts as the pulse of the modern global economy. It will be no exaggeration to say and in fact has been mentioned by many that data is now not only considered as ‘new oil’ but as a ‘new currency’ in itself. At present we have Information Technology Act 2000 which governs data protection regulations in India. It stated that unauthorized access to data is a crime, and that anyone who causes a wrongful harm must pay restitution and face prosecution. India has been one of the largest data generators. With the implementation of government projects such as unique biometric identification, e-governance systems, and the Aadhaar Act, among others, the collection, processing, and sharing of personal data of individuals has become a critical issue in India in recent years. In recent years, India has experienced a rash of cyber security incidents, major data breaches. While the transition to a digital economy is still underway, personal data processing has become commonplace in both the public and private sectors. This paper intends to analyze the viability, outcome, set of operations, functions performed and see whether there is any requirement of establishments and adoption of any kind of new structural changes by one of the important constituents of data protection, Data Controllers / Fiduciaries.

Keywords: Data, fiduciaries, informational privacy, protection.