RBI seeks to tighten norms for digital banking
The Economic Times [
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Jul 22, 2025 | Page No.: 1 | Position: Top Left | Source: Bureau | Sq Cm: 209 | AVE: 562318 | PR Value: 2811590
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RBI Proposes Stricter Digital Banking Rules RBI proposes to prohibit banks 4116 from displaying third-party prod- ucts and services on digital banking platforms which could hit cross-selling ¦O 11 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 setae Bank from time to time the mented consent from customers The RBI has also asked banks to Our Bureau RBI stated in its draft Digital Ban- before offering digital banking formulate comprehensive policies king Channels Authorisation Di- Toe the Line services Customers cannot be for- for all digital banking channels Mumbai In a move that could de- rections which is Banks cannot force customers ced to adopt a digital banking addressing statutory and regula- al a setback to the cross-selling of open for public fe- to use digital channels for channel to access other facilities tory requirements including ma- financial products the Reserve Banks should edback until Au- other services such as debit cards Banks will now nagement of liquidity and opera- Bank of India RBI has proposed not make it gust 11 The RBI be required to seek prior approval tional risks The responsibility for prohibiting banks from displaying mandatory has also stated Customer from the RBI before launching any risk oversight will lie with the se- third-party products and services for customers that banks sho- consent for new digital banking channel for nior management on their digital banking platforms to opt for uld not make it digital services transact ional purposes Banks that The regulator said banks which This includes offerings from pro- digital mandatory for must be explicit already have approval for specific have implemented core banking moter groups or entities within banking the customer to and documented digital platforms such as mobile solution and have enabled their the bank s own group channel to opt for any digi- banking must obtain fresh appro- public facing information techno- Third-party products and servi- avail other tal bankingchan- Existing Banks must val to introduce any additional di- logy IT infrastructure to handle ces including those of promoter facilities nel to avail any platforms need create detailed gital banking channels Internet protocol version 6 are eli- groups or bank group entities other facility like fresh approval policies for all Banks shall require prior appro- gible to provide view-only banking shall not be displayed on banks di- debit cards for new digital digital banking val of the Reserve Bank of India facility for internet banking ma gital banking channels except as The draft also mandates that services operations for launching transactional ban- bile banking and other digital specifically permitted by the Re- banks must obtain explicit docu- king facilities the regulator said banking channels-based sery ices