New Delhi: The Reserve Bank of India (RBI) has proposed a comprehensive data governance framework requiring banks, non-banking financial companies (NBFCs) and other regulated entities to strengthen data risk management as part of their overall risk management systems.
It says "Data has increasingly emerged as a critical organisational asset for Regulated Entities (REs), underpinning business operations, customer service, financial reporting, regulatory compliance, risk management, and strategic decision-making."
