Mumbai, July 15 -- The Reserve Bank of India (RBI) on Wednesday proposed that banks and non-banks implement a data governance framework (DGF) aligned with their risk management policies.

It said that this framework should be proportionate to the size of the regulated entity, its complexity, and its business model, among other factors.

It should cover all material aspects of data governance, including its lifecycle, quality, classification, metadata, lineage, and third-party arrangements; and should be in line with the Digital Personal Data Protection (DPDP) Act, 2023, the DPDP Rules, 2025, and all other applicable laws.

"The DGF should be reviewed annually or more frequently as required. The Board should oversee the DGF of the regulate...