Reserve Bank of India Proposes New Data Governance Framework

The Reserve Bank of India issued draft guidelines between July 15 and 16, 2026, titled ‘Guidance on Regulatory Expectations for Data Governance’. The proposal requires regulated entities — including commercial, co-operative, and small finance banks, non-banking financial companies, asset reconstruction companies, and credit information companies — to implement a comprehensive data governance framework (DGF) to mitigate operational, compliance, and financial risks.

The framework mandates the establishment of Board-level and Executive-level Data Governance Committees and the appointment of a senior officer to lead a dedicated data function. Regulated entities must manage the entire data lifecycle from origination to deletion, maintain a single source of truth for critical data, and ensure compliance with the Digital Personal Data Protection Act 2023 and 2025 rules. The guidelines also require the designation of specific roles, including data owners, stewards, and custodians.

The central bank stated that the growth of digital financial services and automated decision-making has increased data complexity, making effective governance essential. The Reserve Bank of India has invited stakeholder and public comments on the draft norms until August 17, 2026.