Finance Data protection bill: India’s fintech industry has many reasons to worry Updated : December 16, 2019 08:28 PM IST Though data localisation was under discussion for a while, the Bill now makes it mandatory. Adding to the cost and compliance issues, restrictions on biometric data would be another source of worry for fintech companies. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.