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DPDPA Compliance for Banking/NBFC Sector
Financial institutions are heavily regulated. DPDPA adds another layer of compliance for customer data protection and consent.
Consently Team
24 January 2026
6 min read
Trust is Your Currency
Banks and NBFCs are already regulated by RBI, but DPDPA 2023 introduces specific requirements for digital consent that go beyond standard KYC.
Consent Architecture
The "bundled consent" in 50-page loan agreements is no longer valid. You need granular consent for:
- Credit Bureau checks
- Marketing SMS/Calls
- Sharing data with insurance partners
- Co-branded card offers
Consent Manager Framework
Banks must integrate with the new Account Aggregator and Consent Manager frameworks to allow users to view and revoke consent via a single dashboard.