Draft DPDP rules: Task cut out for banks as operational challenges loom

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The story "Draft DPDP rules: Task cut out for banks as operational challenges loom" was covered 17 hours ago by Business Standard, a news publisher based in India.

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Draft DPDP rules: Task cut out for banks as operational challenges loom - Business Standard

Quick Summary:

Meanwhile, a senior private sector banker cautioned that since a lot of business works on cross-leveraging group customers, there could be some leakage if explicit consent is needed.

However, for us, since mobilisation of customers is done by bank staff who are qualified for selling insurance, they get the forms filled by the customer with their consent duly signed,” said a senior private sector insurance executive.

Banks and insurance companies are currently reviewing the draft rules, which have been made available for public comment, and have yet to finalise their views or determine the next course of action.“We are studying the draft rules and will finalise our views in some time.