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[Cites 0, Cited by 0] [Section 17(1)] [Section 17] [Entire Act]

Union of India - Subsection

Section 17(1)(f) in THE DIGITAL PERSONAL DATA PROTECTION ACT, 2023

(f)the processing is for the purpose of ascertaining the financial information and assets and liabilities of any person who has defaulted in payment due on account of a loan or advance taken from a financial institution, subject to such processing being in accordance with the provisions regarding disclosure of information or data in any other law for the time being in force.Explanation.—For the purposes of this clause, the expressions “default” and“financial institution” shall have the meanings respectively assigned to them in sub-sections (12) and (14) of section 3 of the Insolvency and Bankruptcy Code, 2016.Illustration.X, an individual, takes a loan from Y, a bank. X defaults in paying her monthly loan repayment instalment on the date on which it falls due. Y may process the personal data of X for ascertaining her financial information and assets and liabilities.