The RBI has issued updated guidelines for Payments Banks concerning customer protection in unauthorized electronic transactions.
RBI (Payments Banks - Responsible Business Conduct) Second Amendment Directions, 2026
On June 24, 2026, the Reserve Bank of India published the Reserve Bank of India (Payments Banks - Responsible Business Conduct) Second Amendment Directions. This amendment is particularly pertinent to customer protection against unauthorized electronic banking transactions within Payments Banks.
The updated guidelines consolidate earlier directives and emphasize limiting liability in cases of unauthorized transactions, thereby enhancing the consumer protection framework. This development underscores the RBI’s commitment to ensuring consumer rights are upheld in the dynamic landscape of digital banking.
For legal professionals working with Payments Banks, it is essential to align compliance strategies with these amended directions to effectively mitigate risks and enhance customer trust in electronic banking services.
Citations
- RBI (Payments Banks - Responsible Business Conduct) Second Amendment Directions, 2026