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

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. Industry experts said such steps are becoming essential as the 18-month phased rollout of the DPDP framework compresses timelines for compliance, with enforcement expected by May next year.