Why BFSI boards must prioritize data breach preparedness

In this episode of the EY India Insights podcast, we explore how data breach response in the BFSI sector has become a board-level priority following the DPDP Act, 2023, with implications for trust, regulatory outcomes and business continuity. Ranjeeth Bellary, Partner, Forensic & Integrity Services, EY India, shares insights on early-stage breach decisions, forensic readiness and the need for evidence-led response frameworks.

Key takeaways:

• Data breach response in BFSI has become a board-level responsibility, with regulatory expectations closely tied to trust and governance.
• The first 72 hours following a breach are critical, requiring clear decisions on classification, containment, notification and customer protection.
• Regulators emphasize decision discipline and evidence, making forensic readiness and documentation essential.
• Organizations lacking robust data logs face delays, evidence gaps and increased regulatory exposure.

Tune in to understand how organizations can strengthen breach response strategies and why preparedness is key to maintaining trust and regulatory confidence in an increasingly data-driven world.