Resources for Gramm Leach Bliley Act (GLBA)

ITA 2000 Amendments … Impact on IT Companies

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The amendments passed on December 22/23 by the Parliament to the eight year old ITA 2000, has been watched keenly by IT and ITES companies. Many are happy since the resulting ITA 2000 -Version 2008 which we prefer to call ITA 2008 has tried to address the demand for “Data Protection”. The earlier version of ITA 2000 did provide that data vandalism would be treated as an offence under Section 66 of the Act with three year’s imprisonment and eligible for claiming compensation of upto Rs 1 crore under Section 43. However, since there was no specific indication that this was a measure to protect data in the hands of BPOs, many in the industry were expressing an opinion that India does not have data protection laws. Though the Government introduced a separate bill called “Personal Data Protection Act 2006″ to meet this demand, the Bill is still pending in the parliament and is likely to lapse.

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