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RBI takes utmost care of security and convenience of its customers. From time to time the central bank issues various guidelines to the 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 exactly are the instructions given? How will it benefit the general public? Let’s find out

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What did RBI say?

Recently, the Reserve Bank of India has issued guidelines for banks. As per these guidelines, no bank can impose any kind of scheme on the customer, nor can any such action be taken by misleading the customer. RBI issued “Reserve Bank of India Second Amendment Directive, 2026” on 15 June 2026. These guidelines are applicable to all commercial banks. It has separate guidelines for Small Finance Banks, Payments Banks, Regional Rural Banks and Local Area Banks. This RBI directive will come into effect from 1st January 2027. Following this directive, banks will be given a period of six and a half months to improve their systems.

Guidelines for Banks

The guidelines issued by the RBI to banks include the following:
Banks must publish an updated list of all listed DSAs and DMAs on their website, and must update it within seven days of any change.
Bank branches must distinguish their employees, agents and third-party product representatives by dress or identification.
A written undertaking must be obtained from the DSA and DMA, that they and their sub-agents will abide by the Bank’s Code of Conduct.
That code of conduct must be publicly displayed on the bank’s website.
Agents can contact customers only between 9 am to 7 pm.
They cannot go to the customer’s home or office without their consent. They cannot pretend to be bank employees.
No third-party employee can claim to be an employee of the Bank or make any assurance on behalf of the Bank.

How do banks mislead customers?

RBI has taken this action, as banks often mislead customers in one way or another. For example, a customer goes to a bank for some enquiry, but is offered a plan or an insurance policy. Apart from this, online services also contain a lot of misleading information, which when clicked on, the customer gets a product without his consent. RBI has issued these guidelines to protect consumers from such practices.

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