As the business landscape becomes increasingly digital, organisations need the confidence in their technology infrastructure to navigate risk better as well as accelerate innovation and growth.
The interconnectedness and velocity of risks has increased in recent years, and it now takes different approaches to see them, and the entire organisation to address them. In becoming more proactive in preparing and adapting to risks, you can become more resilient. With the right insight, you can mitigate and prepare for whatever change is ahead. Disruption will always exist. But through building resilience, you’ll have a strategic advantage and be better placed to respond to disruption in a seamless, coordinated and efficient manner.
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In an attempt to decipher the key tenets of the DPDP Act, 2023, we at PwC India have curated a brief document. The document aims to help clients gauge what the legislation means for them and how they can proceed with the changes it may bring in the business environment.
The Digital Personal Data Protection Bill places reasonable obligations on data fiduciaries to ensure responsible handling of digital personal data. Even as the finer details of the Bill will be clearer in days to come, enterprises should start their journey towards privacy maturity now.
Sivarama Krishnan
Partner and Leader – Risk Consulting, PwC India and Leader, APAC, Cybersecurity and Privacy, PwC
Organisations can leverage technology solutions to collect personal data for consent mechanisms. However, they need to have robust prevention and vigilance systems in place which extend beyond technology to people and processes for defending the data against threats.
Sundareshwar Krishnamurthy
Partner and Leader – Cybersecurity, PwC India
The Act will enhance the trust that individuals and businesses have in the security, privacy and reliability of digital interactions. Rather than waiting for the Act to become a law, organisations should start working towards compliance and establish a robust privacy baseline to improve their digital trust quotient.
Anirban Sengupta
Partner and Leader – Business Risk Consulting, PwC India
Organisations need to ensure that the process of withdrawing consent is as easy as obtaining one. Upon withdrawal of consent, organisations must ensure that appropriate actions are taken by processors who are processing data on their behalf.
Manu Dwivedi
Partner and Leader - Cybersecurity, PwC India
Data principals can have an active participation in shaping the privacy ecosystem where rights are balanced with responsibilities. Organisations can utilise this opportunity to demonstrate transparency and help data principals make an informed decision about their personal data.
Siddharth Vishwanath
Partner and Leader, Markets and Emerging Business - Risk Consulting, PwC India
Data fiduciaries must ensure that their data processors have adequate safeguards in place before onboarding a data processor. Organisations must identify privacy risks and resolve them through third-party audits and other monitoring measures. Consent managers should support consent review and refreshing of data wherever applicable.
Puneet Garkhel
Partner and Leader - Forensic Services, PwC India
The appointment of a data auditor is a significant step. Data fiduciary, during the engagement with a data processor, must implement appropriate monitoring mechanisms, e.g., third party audits. Consent managers should facilitate periodic reviews and refreshing of consent wherever applicable.
Sumit Makhija
Partner - Forensic Services, PwC India
PwC India analysed the websites of 100 Indian enterprises for compliance with the Digital Personal Data Protection (DPDP) Act, 2023 and found that 41% of websites of Indian enterprises analysed were found to specify data principal rights in their website privacy policies. However, only 9% of organisations sought consent that was free, specific and informed as per the PwC report.
Explore key cybersecurity threats faced by the Indian FinTech industry. Learn about cloud vulnerabilities, insider threats and more. Discover strategies for fortifying defenses to safeguard digital financial services.
Explore key risk trends to recognise and manage in order to excel in the challenging economic ecosystem.
An overview of regulatory requirements highlighted by Reserve Bank of India (RBI) for third-party risk management (TPRM) in the financial services industry.
How can organisations in the energy and infrastructure sector strengthen their business against external threats and effectively manage and minimise risks?
Managing risks is no longer just about avoiding disruptions. It’s about shifting perspectives, building resilience and having a panoramic view of the risk landscape, so you can act boldly and purposefully.
PwC India, in collaboration with Business Today, presents De-risking the Future - a series of conversations between PwC experts and industry professionals where they discuss ways to come together in unexpected ways to solve the world's important problems.
Watch Harpreet Singh, Partner - Risk Consulting, PwC India, in conversation with Anil Riat, Group Head, Internal Audit at Bharti Enterprises and, along with Sourav Majumdar, Editor at Business Today, engage in a compelling discussion on the critical aspects of governance, risk, and compliance (GRC). The conversation highlights key points including elevating governance beyond regulatory compliance, concerns in governance, lessons from startups, governance challenges in regulated sector and much more.
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Watch Kuntal Sur, Partner Risk Consulting and Leader - Financial Services & Treasury Risk Management, PwC India, in conversation with Vivek Veda, Co-Founder & CFO at Kreditbee, along with Sourav Majumdar, Editor, Business Today, discuss innovations, cybersecurity risks and how an effective risk management strategy can provide strategic leverage to FinTech players.
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Episode 4 focusses on how rethinking risk is about being prepared for change in times of disruption and overcoming new-age challenges which start-ups face.
Watch Puneet Garkhel, Partner and Leader, Forensic Services, PwC India, in conversation with Kalpesh Jain, MD and CFO, Multiples Equity, along with Sourav Majumdar, Editor, Business Today, discuss the importance and benefits of good governance and controls in protecting value in the start-up sector.
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Sundareshwar Krishnamurthy, Partner and Leader, Cybersecurity, PwC India, and Sohrab Prakash, Head, Audit and Assurance, Hero MotoCorp, along with Business Today editor Sourav Majumdar discuss emerging technologies like generative AI, and the risks and opportunities in this evolving landscape.
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Siddharth Vishwanath, Partner and Leader, Markets and Emerging Business - Risk Consulting, PwC India, in a conversation with Shankar Viswanathan, CIO, Sundaram Clayton Limited, and Kaivalya V, Co-founder and CTO, Zepto, discuss mitigation strategies and ways to rethink risk.
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Business Today editor Sourav Majumdar explores the evolving risk and threat landscape and how to prep better with LTI Mindtree Limited CFO Vinit Teredesai and PwC India Risk Consulting Partner and Leader Sivarama Krishnan.
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Risks are inevitable. To tackle them, it’s best to follow a three-step approach - predict, prepare and respond. Sivarama Krishnan, Partner and Leader – Risk Consulting, PwC India and Leader, APAC, Cybersecurity and Privacy, shares his insights on rethinking risk and not just addressing it in silos.
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In this age of disruption, the risk landscape is continuously evolving. Sam Samaratunga, Global Risk Services Leader, PwC, highlights the need for having a panoramic view of risk by combining data-driven insights with technology, and bringing together a community of solvers.
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Sanjeev Krishan, Chairperson, PwC India, shares his insights on how organisations can become fit-for-future by addressing risks through technology and actionable intelligence.
Managing risk isn't about responding to change. It's about changing the way we see, shifting our perspective and considering different angles to anticipate and be agile.
We bring together teams of experts including PwC professionals, tech alliance partners, third-party data owners and clients. We actively work with you to make sense of data from multiple sources, internal and external, to identify meaningful risk signals and to form actionable, real-time risk intelligence. In doing so, we help you become more agile and resilient, better able to anticipate threats and take advantage of opportunity. Helping you build trust and deliver sustained outcomes.
A community of solvers. Identifying real-time signals. Creating a panoramic view of your unique risk landscape. Let’s change how we see risk.
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Managing risks in an organisation requires all hands to be on deck. It calls for CEO oversight, board-level accountability and a C-suite that is aligned. It is imperative that business leaders #RethinkRisk so that they can manage threats with agility and foresight, while staying on course to deliver sustained outcomes, create value and build trust.
Sharp, actionable insights curated to help you gain a more panoramic and data-enabled view of risk. Learn how the risks that today’s leaders face are deeply interconnected, and why managing them will require unprecedented agility and cooperation.
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Today, India's GCCs are at the forefront of driving innovation, digital transformation and operational excellence. GCCs are focussing on advanced analytics, predictive analytics and Generative AI which in turn will warrant enhanced risk management. As we look ahead, here are some of the trends that are shaping the risk landscape within this sector.
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Transact to Transform will help you go further, faster by applying a holistic lens to reinvent your business model and achieve your sustainable growth ambitions.
Sivarama Krishnan
Partner and Leader - Risk Consulting and Leader APAC Cybersecurity & Privacy, PwC India