RBI seeks to tighten norms for digital banking
MUMBAI: In a move that could deal a setback to the cross-selling of financial products, the Reserve Bank of India (RBI) has proposed prohibiting banks from displaying third-party products and services on their digital banking platforms. This includes offerings from promoter groups or entities within the bank’s own group.
“Third-party products and services, including those of promoter groups or bank group entities, shall not be displayed on banks’ digital banking channels except as specifically permitted by the Reserve Bank from time to time,” the RBI stated in its draft Digital Banking Channels Authorisation Directions,
