RBI proposes major changes to how banks handle digital services
The Reserve Bank of India (RBI) just dropped draft rules to boost digital banking security and put customers in the driver's seat.
Banks won't be able to show you third-party products on their apps or sites unless RBI says it's okay, and you'll have to actually say "yes" before using any new digital service.
RBI is also asking for public feedback on these ideas until August 11, 2025.
Banks will need smarter fraud checks
Banks will need smarter fraud checks—think monitoring transactions for anything sketchy based on your usual habits.
Plus, they can't push you to use digital channels just to get stuff like debit cards, and mobile banking should work smoothly across all networks.
Before launching new transactional services, banks must get RBI approval and share key financial documents.
It's all about making online banking safer and giving you more choice over your money.
```