UPI-like model for cybersecurity on cards; ‘smart’ digital regulation soon, says Ashwini Vaishnaw

The government is working on a framework of digital regulations which would at once promote innovation in the fast-growing sector and prevent any harm to citizens from its unbridled power, Union minister of railways, electronics and information technology Ashwini Vaishnaw said on Friday.

Speaking at the FE CFO Awards here, the minister said India would find a niche in digital regulation, with a “smart framework” that would comprise horizontal laws, such as the one for data protection, which apply to all sectors, and vertical legislation, wherever required to address sector-specific issues. “It is important to create a good balance between innovation and regulation,” he stressed.