GENERAL10 Sept 2026
Fintech should treat data as a fiduciary responsibility: RBI Governor
The Reserve Bank of India (RBI) Governor, Sanjay Malhotra, has said fintech companies should treat customer data like a fiduciary responsibility. He noted India's fintech sector now ranks third globally and is home to 30 unicorns. For business owners using fintech apps, this signals stricter data-handling expectations ahead. Review what customer data your apps and vendors collect, and keep consent records handy.
Key Statutory Highlights
- RBI Governor Sanjay Malhotra said fintech companies should treat data as a fiduciary responsibility.
- He said India's fintech sector ranks third globally.
- He also noted that the country's fintech sector is home to 30 unicorns.
Actionable Advice for Taxpayers / Founders:If your business shares customer data with fintech apps or vendors, review what is collected and why, and keep clear consent records. Treat this as good practice for now, since the RBI has only stated an expectation, not a new rule.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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