In order to provide a legal framework for conducting online business the Indian Government passed a bill Information Technology Act 2000. The objective of the bill is to provide a regulatory framework so that Indian business can harness the Internet for enhancing business processes. Among the other thing the bill also meant to create a framework to conduct paperless contracts ( such as demat) and make Internet a more attractive platform to business conduction. The same frame work is used for e-commerce and e-governance initiatives. The act established controller for over seeing the implementation of the framework and also established appellate authorities to settle any disputes arising in new electronic environment. New category of entities such as digital signature certificates are issued for authenticating online transactions.
Thursday, May 7, 2009
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