Can't kill innovation, shield corrupt in the name of privacy: Prasad

Union Law and IT Minister Saturday cited a Supreme Court ruling to stress that privacy of data should not kill innovation and shield corrupt, terrorists and criminals. 

Also, there is a need to strike a healthy balance between data availability, utilisation, innovation and privacy of data, he said.

"The Supreme Court has said privacy can't kill innovation. Innovation must be allowed to grow. Secondly, privacy can't shield the corrupt, the terrorist and the criminals," Prasad said at the Financial Inclusion Summit 2018 organised by the CII here.

He, however, said that due respect must be given to sensitive data. 

Innovation in the country has increased and Indians are adopting technology very fast, the union minister said. 

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"FinTech (financial technology) has done a great job in empowering digital profile of India. Payments through BHIM app has crossed Rs 57,000 crore in September," Prasad said.