Nasscom is setting up an independent self regulating organisation (SRO) to monitor the BPO industry

To deal with the growth in the IT industry and potential problems of data security and privacy, likely to arise in the future, Nasscom is setting up an independent self regulating organisation (SRO) to monitor the industry. None of the developed countries have an SRO to monitor the functioning of IT BPO companies. Inspite of the lack of any regulatory structure, there are a number of regulations governing the functioning of IT and BPO companies. For instance, in the US, there are both Federal level and state level regulations governing the working of BPOs. If a BPO is working for a bank, then some of its functions are regulated by the banking regulator. Nasscom wants to create global SRO, which will help the IT and BPO industry in creating certain standards and code of conduct. Sunil Mehta, VP, Nasscom, says, “The Nasscom Executive Council, recently, approved the formation of this body, and the initial cost of functioning will be borne by Nasscom. Subsequently, the body is expected to be self sustaining.”