RBI News: Working in the interest of customers, the RBI has issued some guidelines to banks, under which banks will no longer be able to mislead customers. Let's explain the whole matter.

RBI puts a check on the arbitrariness of banks

RBI Guidelines: The RBI takes utmost care of the safety and convenience of its customers. To this end, the central bank periodically issues various guidelines to banks. Similarly, recently, the Reserve Bank of India has strictly instructed banks not to mislead their customers in any way. If any bank is found doing so, strict action will be taken against it.

What did the RBI say?
The Reserve Bank of India recently issued guidelines for banks. Under these guidelines, no bank can impose any kind of scheme on its customers, nor can it mislead them. On June 15, 2026, the RBI issued the "Reserve Bank of India (Commercial Banks) Second Amendment Directions, 2026." These guidelines apply to all commercial banks.

It contains separate guidelines for small finance banks, payment banks, regional rural banks, and local area banks. These RBI directives will come into effect on January 1, 2027. Following this directive, banks will be given six and a half months to improve their systems.

Guidelines for Banks
The guidelines issued by RBI to banks include:

• Banks will have to publish an updated list of all empanelled DSAs and DMAs on their websites, updating it within seven days of any change.
• Bank branches must distinguish between their staff, agents, or third-party product representatives, whether by dress or ID.
• Take a written undertaking from the DSA and DMA that they and their sub-agents will abide by the 'Code of Conduct' of the bank.
• That 'Code of Conduct' will have to be displayed for everyone on the bank's website.
• Agents can contact customers only between 9 am and 7 pm.
• They cannot visit a customer's home or office without their permission. They cannot pose as bank employees.
• No third-party employee can claim to be a staff member of the bank or make any promises on behalf of the bank.

How do banks mislead customers?
The RBI has taken this action because banks often mislead customers in some way. For example, a customer goes to the bank for some kind of inquiry, but is instead offered a scheme or insurance policy. Furthermore, online services also contain much misleading information, which, upon clicking on, result in a customer receiving a product without their consent. The RBI has issued these guidelines to protect customers from such practices.