"More than 3 million credit card data were misused recently. Let us face it, these kind of security breaches will take place. There is nothing called fully perfect security in IT," Chandrashekar said while addressing an event organised to commemorate the World Consumer Rights Day.
The impact and scale of such incidents can be minimised, but a complete cyber security cannot be provided, he cautioned.
There is a greater urgency, according to Chandrashekar, to protect online consumers as the e-commerce industry is growing at a faster pace. More so because the country does not even have privacy laws unlike others such as the UK and the US where online consumers are protected, he said.
It is not that a separate law is required to regulate e-commerce market, but the question is how to enforce consumer laws in digital world, Chandrashekar said.
Earlier addressing the event, IT Minister Ravi Shankar Prasad today said there is a dilemma on how to strike a balance between maintaining privacy of data and at the same time using it for providing better services.
He said the government is pushing digital programmes to empower people to improve their lives and cited various experiences of common people earning better income taking advantage of digital technologies like Internet and smartphones.
There is a rise in complaints in consumer courts on e-commerce and digital financial products like cloning of ATM cards and unauthorised withdrawal of money, she said, hoping that new law will have provisions to curb such practice.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
