Document title: RBI Issues Amendment Directions on Advertising, Marketing and Sale of Financial Products and Services
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/460
Date: June 15, 2026
Regulatory and Policy Measures
The Reserve Bank of India announced the final Amendment Directions concerning the advertising, marketing and sale of financial products and services by regulated entities. These Directions incorporate feedback received on the earlier draft issued on February 11 2026 and will become effective on January 1 2027.
The amendment covers a comprehensive list of regulated entities under the Responsible Business Conduct framework, namely: Commercial Banks, Small Finance Banks, Payments Banks, Local Area Banks, Regional Rural Banks, Urban Co‑operative Banks, Rural Co‑operative Banks, All‑India Financial Institutions, Non‑Banking Financial Companies and Housing Finance Companies. Each entity is referenced through a specific notification link in the RBI portal.
In parallel, the RBI examined stakeholder comments on the draft amendments to the regulatory framework for ‘Agency Business and Referral Services’ as stipulated in the Undertaking of Financial Services Directions, 2025. The finalised modifications are issued as Third Amendment Directions for Commercial Banks and Second Amendment Directions for Small Finance Banks, Payments Banks, Regional Rural Banks, Urban Co‑operative Banks, Rural Co‑operative Banks, and NBFCs, also effective from January 1 2027.
Annex I provides a statement on the feedback received for the advertising and marketing draft Directions, while Annex II details the feedback on the agency business and referral services draft. The press release is signed by the Chief General Manager, Brij Raj.
Overall, the RBI’s amendments aim to strengthen consumer protection, curb mis‑selling, regulate dark‑pattern practices, and ensure responsible marketing of both own‑bank and third‑party financial products across the entire spectrum of regulated financial institutions.