robust and
strict framework to ensure privacy and security of
sensitive financial data of customers collected while
offering financial services, and to inflict Penal action ... Directing the Respondents to formulate
Regulations (in line with RBI's Data Localisation
Norms for UPI platform) in order to ensure that
entire data
needs to be
discharged. The entrustment was of data with promised confidentiality. Data
is property. RBI guidelines are binding on banks and so they ... filed it in the court. It is not the filing of the data
that is under scrutiny but the obtaining of the said data
this Court to the Circular by the Reserve Bank of India
[„RBI‟] dated 22.12.20144 and it has been vehemently urged that for
non-corporation ... reiterated that as the CRILC data is collected under the
provisions of the RBI Act , non-adherence to reporting instructions
attracts penal provisions under
COSMOS Portal
which is the unified data platform by the Reserve Bank of India ("RBI"). It
This is a digitally signed order
Sharma, Mr. Ayush
Srivastava and Mr. Snehashish
Bhattacharya, Advocates for R-1/RBI.
Mr. Sumit Goel, Ms. Sreepanna
Basak, Ms. Swati Bhardwaj and Ms.
Apurba ... that the
data, as directed, has already been preserved.
3. Let the above said data, if not already shared, be shared with RBI
details provided by the companies and the data is
provided by the RBI is reconciled.
2. Mr Nigam, learned Senior Counsel appearing for the petitioners ... loss is reimbursed on the basis of the data as
provided by the RBI. He submits that this is to avoid any further delay that
data theft, forgery, and impersonation and issue official
advisories and public warnings to caution consumers against fraudulent
digital lending apps falsely claiming RBI registration ... interest of the Petitioner and the public at large from such data theft,
forgery, and impersonation;
f. Direct Respondent
positive act is required from the RBI. Second, he
submits that the exports were made from EDI (Electronic Data Interchange),
which does not provide
Mukherjee and Mr. Aryan
Data, Advs. for Canara Bank.
Mr. Dhaval Mehrotra and Ms. Aditi
Desai, Advs. for R-1/RBI.
CORAM
RBI.
Ms. Nazia Parveen, Adv. for UBI.
Mr. Brijesh Kumar Tamber, Ms.
Arani Mukherjee and Mr. Aryan
Data, Advs. for Bank of India.
CORAM
