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On July 15, 2026, the Reserve Bank of India (RBI) released draft guidance on regulatory expectations for data governance for public consultation. The guidance applies to a broad range of regulated entities, including commercial banks, small finance banks, payments banks, local area banks, regional rural banks, urban co-operative banks, rural co-operative banks, all-India financial institutions, non-banking financial companies, asset reconstruction companies, and credit information companies. The RBI developed the guidance in response to increasing digitalisation of the financial sector and growing adoption of technology-driven business models. As data volumes, variety, and velocity continue to increase, effective data governance has become essential to ensure data remains accurate, consistent, secure, and fit for purpose across functions and systems. Weaknesses in data governance and management can lead to broader financial, operational, compliance, and reputational risks for regulated entities. The guidance sets out broad regulatory expectations relating to data governance, roles, architecture, metadata and lineage, quality, and third-party arrangements involving data sharing. By establishing sound practices relating to data management across the data lifecycle, the RBI aims to support regulated entities in strengthening their data governance frameworks. The consultation period closes on August 17, 2026. Regulated entities, members of the public, and other stakeholders can submit comments and feedback through the Connect 2 Regulate section on the RBI's website or by email to the Chief General Manager, Operational Risk Group, Department of Regulation, at the RBI's Central Office in Mumbai. The subject line for email submissions should read "Feedback on Guidance on Regulatory Expectations for Data Governance."