RBI Seeks to Tighten Norms for Digital Banking
The Economic Times [
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Mumbai
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Jul 22, 2025 | Page No.: 7 | Position: Top Center | Source: Bureau | Sq Cm: 192 | AVE: 151053 | PR Value: 755265
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RBI Seeks to Tighten Norms for Digital Banking CROSS-SELLING HIT Banks must take approval to launch new digital channels offer third-party products services groups or bank group entities before offering digital banking formulate comprehensive policies Our Bureau shall not be displayed on banks di- services Customers can t be for- for all digital banking channels gital banking channels except as Toe the Line ced to adopt a digital banking addressing statutory and regula- Mumbai Ina move that could deal specifically per- Banks cannot force customers channel to access other facilities tory requirements including ma- a setback to the cross-selling of fi- mitted by the Re- to use digital channels for such as debit cards nagement of liquidity and opera- nancial products the Reserve Customers serve Bank of In- other services Banks will now be required to se- tional risks The responsibility for Bank of India has proposed to pro- can t be dia from time to ti- ek prior approval from the RBI befo- risk oversight will lie with the se- hibit banks from displaying third- forced to me the RBI sta- Customer re launching any new digital ban- nior management party products and services on the- adopt a ted in its draft consent for king channel for transactional pur- The regulator said that banks ir digital banking platforms This digital Digital Banking digital services poses Banks that already have app- which have implemented core includes offerings from promoter banking Channels Autho- must be explicit roval for spetific digital platforms banking solution CBS and have groups or entities within the bank s channel to risation Direc- and documented such as mobile banking must obta- enabled their public-facing infor- own group RBI has also stated that access other tions which is in fresh approval to introduce any mation technology IT infrastruc- banks should not make it mandato- facilities open for public fe- Existing Banks must additional digital banking chan- ture to handle internet protocol ry for the customer to opt for any di- edback until Au- platforms need create detailed nels Banks shall need prior appro- version 6 are eligible to provide vi- gital banking channel to avail any gust 11 2025 fresh approval policies for all val of the Reserve Bank of India for ew-only banking facility for inter- other facility like debit cards The draft also mandates that for new digital digital banking launching transactional banking net banking mobile banking and Third-party products and servi- banks must obtain explicit docu- services operations facility the regulator said other digital banking channels-ba- ces including those of promoter mented consent from customers The RBI bibs also asked banks to sed services