Data Retention and Erasure Policy

Description

Data Retention and Disposal Policy sets out the requirements and rules that govern how the data is handled and managed from its inception to its eventual disposal. Primary objective is to ensure responsible data management in strict compliance with prevailing data protection laws and industry best practices. At the heart of this policy lies the principle of data retention, emphasizing that data should only be kept for as long as it serves its intended purpose or as mandated by legal requirements. All data is categorized, from customer records to financial data, each with its own defined retention period. Dynamic records retention schedule is maintained, continuously reviewed to adapt to changing regulatory environments and evolving business needs. Regular data reviews, audits, and compliance checks are embedded within the policy, ensuring ongoing scrutiny of data to determine its continued necessity. In addition to retention, policy places equal importance on data disposal. When data reaches the end of its useful life, secure and approved disposal methods are employed to render it unrecoverable. Physical and electronic data alike undergo rigorous destruction processes, adhering to established data destruction standards. This policy not only prioritizes data security but also fosters a culture of awareness and accountability among our employees and stakeholders through training and clear communication.