Jaanvi Singh & Kush Aryan Gupta, BBA LLB (Hons.), School of Law, Bennett University
ABSTRACT
We are all living in a fast evolving world which is driven more by technological advancements, internet expansion, globalization and what not. The dynamic market has also led to significant changes in the banking sector across the globe. In the current era, with these changes, there arises an issue of data protection of customers, especially in the banking sector. This article aims to discuss and understand about the jurisprudence and laws relating to data protection, privacy and confidentiality with respect to banking transactions. The article would first deal with the introductory part which would be a short summary of what will be dealt in the further parts. The first main part will extensively deal with the data protection and confidentiality in India’s banking sector while discussing about the Justice Srikrishna Committee Report and the other laws on banking. The second main part will thoroughly discuss about the other international and domestic regulations pertaining to banking law. The last part of the article is the conclusion analysing the data protection and its effectiveness in the Banking Sector.
