{
  "type": "article",
  "title": "Your bank data is about to get a tougher shield as the Reserve Bank drafts fresh security rules",
  "summary": "The Reserve Bank of India has floated new draft rules to tighten data security and data governance at banks and NBFCs, inviting feedback until August 17.",
  "content": "If a bank or NBFC has so far taken a casual approach to handling your personal information, that habit may soon become costly. The Reserve Bank of India has put out a set of draft rules aimed at strengthening the protection and proper management of customer data. These proposed norms will cover all banks, NBFCs and every other financial entity that falls under the Reserve Bank's regulation. Each of them will have to build a dependable system to spot data-related risks early, keep them under control, and secure the information they hold.\n\nData is now the most valuable asset\nThe Reserve Bank believes that with digital banking and online services expanding at a rapid pace, data has become one of the most important assets any financial institution owns. That is exactly why safeguarding this information, maintaining its quality and ensuring its correct use has turned into a pressing priority. Under the new proposal, every bank and NBFC will need to set up a dedicated data risk management system as part of its wider risk management framework, so that the room for slip-ups is kept to a minimum.\n\nA data governance committee, with the board watching\nAccording to the draft, every regulated entity will have to either form a new data governance committee or hand the responsibility to an existing senior committee. This committee will include officials drawn from data, IT, information security, business, risk management and compliance functions. Beyond that, the institution's board will oversee the entire data governance framework and review it from time to time, ensuring accountability reaches right to the top.\n\nGuarded at every stage, from creation to deletion\nThe Reserve Bank has also proposed that data be kept secure at every stage, from the moment it is created to the point it is deleted. Institutions will have to ensure that customer information is gathered only for legitimate and clearly defined purposes. On top of that, this information must be used strictly within legal and regulatory boundaries and nowhere beyond them.\n\nFeedback invited until August 17\nThe Reserve Bank has asked banks, financial institutions and other interested parties to send in their views and suggestions on these draft rules by August 17. The final guidelines will be issued only after these inputs are examined. The regulator is confident that strong data governance can go a long way in curbing cyber attacks, data leaks, financial losses and the threats that hang over customer trust. The direct outcome, it expects, will be digital banking that is far more secure and reliable than before.\n\nWhat this means for you\n• For bank customers: Once the rules take effect, your personal information will get stronger protection against cyber attacks and data leaks, making online banking more trustworthy.\n• For NBFC and digital loan users: Institutions will have to ensure your data is collected and used only for legitimate purposes, shrinking the scope for misuse of your information.\n\nQuestions & Answers\n\n1. Why has the Reserve Bank issued these new draft rules?\nThe rules aim to strengthen data security and data governance at banks and financial institutions so that customer information stays protected.\n\n2. Which entities will these rules apply to?\nThey will apply to all banks, NBFCs and every other financial entity regulated by the Reserve Bank.\n\n3. Who will be part of the data governance committee?\nIt will include officials from data, IT, information security, business, risk management and compliance, while the institution's board will oversee the entire framework.\n\n4. What is the deadline to send suggestions?\nThe Reserve Bank has asked interested parties to submit their feedback by August 17.\n\n5. How will these rules benefit customers?\nStrong data governance will reduce the risk of cyber attacks, data leaks and financial losses, making digital banking more secure.",
  "url": "https://trendkia.com/en/business/apaki-bainkinga-janakari-aba-aura-majabuta-suraksha-ghere-men-reserve-bank-ne-taiyara-kiya-deta-suraksha-ka-naya-khaka-7933",
  "category": "Business",
  "publishedAt": "2026-07-15",
  "tags": [
    "RBI",
    "Data Security",
    "NBFC",
    "Data Governance",
    "Digital Banking",
    "Draft Rules",
    "Cyber Security"
  ],
  "language": "en",
  "site": "TrendKia"
}