RBI seeks comments on data governance guidance
The Reserve Bank of India has released a draft 'Guidance on Regulatory Expectations for Data Governance' for public comments. The guidance applies to a wide range of regulated entities.
Digitalization drives data focus
With increasing digitalization and technology adoption in the financial sector, data has become a critical asset for regulated entities (REs).
The growing volume, variety, and velocity of data necessitate effective data governance to ensure accuracy, consistency, security, and fitness for purpose across all functions and systems.
Weaknesses in data governance can lead to broader financial, operational, compliance, and reputational risks for REs. This draft guidance aims to support REs in strengthening their data governance frameworks and promoting sound data management practices throughout the data lifecycle.
Broad scope for regulated entities
The draft guidance is applicable to a comprehensive list of regulated entities, including commercial banks, small finance banks, payments banks, local area banks, regional rural banks, urban and rural co-operative banks, all India financial institutions, non-banking financial companies, asset reconstruction companies, and credit information companies.
The Reserve Bank of India invites comments on this draft from all regulated entities, members of the public, and other stakeholders by August 17, 2026.
Feedback can be submitted via the 'Connect 2 Regulate' section on RBI's website or directly by email.