Banks and fintechs up privacy play with DPDP Act in phased rollout

As India’s Digital Personal Data Protection (DPDP) Act moves into its phased implementation, banks, insurers and fintech firms are accelerating efforts to embed privacy deeper into their operating models, signalling a shift to system-level transformation.

Non-state lender Yes Bank has constituted a dedicated data privacy office and appointed a data privacy officer. “In line with the DPDPA, we are currently undertaking a gap assessment, evaluating consent tools, and rolling out multiple training initiatives to build staff awareness of the DPDP Act,” said Munesh Ahuja, its data privacy officer.