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Master Directions - Reserve Bank of India Based on feedback received, the final Reserve Bank of India (Information Technology Governance, Risk, Controls and Assurance Practices) Directions, 2023 are enclosed herewith
RBI introduces new data protection requirements - Lexology These guidelines required PAs and merchants to cease storage of end users' card data This move also lessened the convenience of card transactions, as each user would have to add their card
BANK’S POLICY ON RECORD AND DATA RETENTION - SBI This Policy documents state that all necessary documents and records of the Bank are adequately protected and preserved as per the statutory requirements and that the records of the Bank which are no longer required or are of no value are disposed off after following due process
Enhancing Banking Security and Compliance: Navigating RBI Guidelines . . . ird-party vendors handling sensitive customer data adhere to stringent data protection standards Conduct regular security assessme isk of data breaches by tracking sensitive customer data and enforcing robust security protocols These proactive measures help achieve compliance with data protection r
What Are the Data Retention Rules Under the DPDPA Act? A bank is required to retain KYC data for 10 years even after a customer closes their account, as mandated by RBI guidelines An e-commerce website must delete user browsing history once the user closes their account, unless required for fraud detection or compliance
RBI sets sew IT Governance Standards for banks and NBFCs to enhance . . . The requirements include maintaining a documented data migration policy with detailed procedures and provisions for audits and signoffs at every migration stage Regular reviews of IT-related risks are mandated, with the risk management committee of the board updating these reviews annually
Notifications - Reserve Bank of India System providers shall ensure compliance of (i) above within a period of six months and report compliance of the same to the Reserve Bank latest by October 15, 2018 System providers shall submit the System Audit Report (SAR) on completion of the requirement at (i) above