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Last Trade - 29/05/20

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Large Cap
Market Cap £337.01bn
Enterprise Value £346.09bn
Revenue £19.35bn
Position in Universe 11th / 6364

RPT-India's cabinet clears data protection bill for tabling in parliament

Thu 5th December, 2019 4:09am
(Repeats with no changes to text)
    NEW DELHI, Dec 4 (Reuters) - The cabinet of Indian Prime
Minister Narendra Modi on Wednesday approved a data protection
bill for tabling in parliament, taking the country a step closer
to framing a privacy law.
    "The protection of personal data is a very important subject
globally," Environment Minister Prakash Javadekar told a news
conference after the cabinet meeting.
    "How that will be done (here) and how work will progress
keeping India's interest and people's interest in mind, this is
what this bill is about."
    The Personal Data Protection bill, drafted by a panel headed
by a former Supreme Court judge and submitted to the government
last year, is key for how firms including global tech giants
Amazon  AMZN.O , Facebook  FB.O , Alphabet's  GOOGL.O  Google
and others process, store and transfer Indian consumers' data.
    It was not immediately clear whether the bill cleared by the
cabinet had undergone any changes.
    India's banking regulator last year directed foreign firms
such as Mastercard  MA.N  and Visa  V.N  to store their payments
data locally for "unfettered supervisory access".
    It later clarified that transactions made in India could be
processed outside of the country but the related data should be
brought back for local storage within 24 hours.

 (Reporting by Sankalp Phartiyal; Editing by Mark Potter)
 ((sankalp.phartiyal@thomsonreuters.com; +91-11-49548064;))
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