Positive impactSector
Treat data as fiduciary responsibility, not asset: RBI Governor tells fintechs
BusinessLine 1 hr ago·10 Sept 2026, 4:37 pm
Reserve Bank of India (RBI) Governor Sanjay Malhotra has emphasized that fintech companies must treat customer data with the same care as a fiduciary, rather than viewing it merely as a business asset. He urged firms to be transparent in their operations, warning that those who try to bypass regulations will eventually face stricter oversight and higher penalties. This stance signals a shift towards stricter governance in the sector.
For investors, this development highlights the importance of regulatory compliance as a key risk factor. Companies that prioritize data security and follow rules are likely to build more durable business models. Conversely, entities with opaque practices may face operational hurdles. Investors should monitor how leading fintech firms adapt to these expectations, as adherence to governance standards will likely become a critical differentiator in the market.
Going forward, the focus will be on the RBI's enforcement actions and the specific compliance measures adopted by fintech players. The central bank is expected to scrutinize data handling practices more closely. Investors should watch for regulatory updates and corporate disclosures regarding data governance, as these will be key indicators of a company's long-term stability and reputation in the evolving financial landscape.
Excerpt from BusinessLine
RBI Governor Sanjay Malhotra on Thursday cautioned fintechs against a mindset of structuring a business around the gaps between regulatory categories, or of scaling first and seeking clarity or forgiveness later. In his keynote address at the Global Fintech Festival 2026,said: “The sandbox and pilot mechanisms we have…Read the original at BusinessLine
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