Three different compliance requirements are confronting the Indian Banks right now. While most Banks were leisurely planning for DPDPA implementation, RBI unleashed the AI guideline first and before the next heart beat landed the Digital Governance requirement.
To rub salt to the wound, the Bank of Baroda data breach has also surfaced.
These developments have made it necessary for Banks to scramble around for quick action starting first with understanding these frameworks and later initiating the implementation.
Fortunately, there is one organization in India namely FDPPI that is ready to assist the Banks with its structured approach to compliance.
The DGPSI-Banks and DGPSI-Bank Branch were two frameworks that FDPPI had already introduced to meet the requirements of DPDPA compliance. Now the two other compliance requirements of AI and Data governance have also been incorporated into the Compliance training schedule.
let us first understand the challenge..before working on the implementation.
Request Bank Chairmen to start acting and in the next board meeting or earlier, start action to conduct a training program for the HO staff on how to address the requirements.
Call Naavi if required before it is too late since all Banks and REs will be scrambling for the scarce resources for training.
Naavi
