Regulatory features such as explicit consent for data sharing, domestic location of servers, maintaining audit trails, information security audit, etc. are progressive and at the same time pre-emptive in nature.
Digital Banking Unit: With digital banking emerging as the preferred mode of delivery along with ‘brick and mortar’ banking outlets, the concept of Digital Banking Units was announced in the Union Budget 2022-23 and the guidelines for operationalising these units were issued by RBI earlier this year.