Digital banking cannot be made mandatory to access other services: RBI

RBI's new digital banking rules mandate explicit customer consent, prohibit banks from forcing digital channels for accessing other services and tighten risk controls

The Reserve Bank of India (RBI) on Friday issued its final instructions on digital banking channels, stating that banks must obtain explicit consent from customers before providing digital banking services. The central bank further said that the lenders cannot make it mandatory for customers to opt for any digital banking channel in order to avail other facilities, such as debit cards.

 

“While it may be more convenient for the customer to opt for some services together (for example, virtual access to card controls), the choice to apply for digital banking facilities shall lie solely with the customer,” the RBI said.