The Reserve Bank of India (RBI) issued draft amendment directions for public comment to put in place comprehensive instructions for how regulated entities advertise, market and sell financial products and services, including third-party products and services. The proposed framework covers areas including the use of Direct Sales Agents and Direct Marketing Agents, dark patterns and the prevention of mis-selling. Following a review of existing guidance on customer appropriateness and suitability in insurance agency business, which currently applies to scheduled commercial banks (excluding regional rural banks) and housing finance companies, the RBI plans to extend and consolidate the approach across all banks and non-banking financial companies. The draft package proposes amendments to multiple Responsible Business Conduct directions spanning banks, co-operative banks, all-India financial institutions, NBFCs and housing finance companies, and also updates the framework for agency business and referral services through amendments to the Reserve Bank of India (Undertaking of Financial Services) Directions, 2025. Comments from regulated entities, members of the public and other stakeholders are due by March 4, 2026 via the RBI’s Connect 2 Regulate portal or by email using an entity-specific subject line.
Reserve Bank of India 2026-02-11
Reserve Bank of India consults on comprehensive rules for advertising, marketing and sales of financial products by banks and NBFCs
The Reserve Bank of India issued draft amendment directions for public comment to establish comprehensive guidelines for advertising, marketing, and selling financial products and services, including third-party offerings. The framework, which includes updates to Responsible Business Conduct directions and the Reserve Bank of India (Undertaking of Financial Services) Directions, 2025, is open for feedback until March 4, 2026.