Draft Data Empowerment and Protection Architecture: NITI Aayog
Part of: GS Prelims and GS-III- IT; Cybersecurity
- Recently, the NITI Aayog has released draft Data Empowerment and Protection Architecture (DEPA).
- Aim: To promote greater user control on data sharing.
- Implemented by: RBI, SEBI, IRDAI, PFRDA and the Ministry of Finance
- DEPA will be empowering individuals with control over their personal data, by operationalising a regulatory, institutional, and technology design for secure data sharing.
- It is designed as an evolvable and agile framework for good data governance.
- It empowers people to seamlessly and securely access their data and share it with third party institutions.
- The consent given under DEPA will be free, informed, specific, clear, and revocable.
Do you know?
- Using DEPA, individuals and Micro, Small and Medium Enterprises (MSMEs) can use their digital footprints to access not just affordable loans, but also insurance, savings, and better financial management products.
- The framework is expected to become functional for the financial sector starting fall 2020.
- It will help in greater financial inclusion and economic growth.
- Opening up an API-based data sharing framework would bring significant innovation by new fintech entities.
- This architecture replaces costly and cumbersome data access and sharing practices that disempower individuals.