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RBI Directs Second Amendment for Payments Banks on Customer Protection
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Reserve Bank of Indiabanking

RBI Directs Second Amendment for Payments Banks on Customer Protection

June 27, 2026

The RBI has issued second amendment directions regarding responsible business conduct for payments banks, focusing on limiting liability in unauthorized electronic transactions.

Amendments for Payments Banks

The Reserve Bank of India (RBI), on June 24, 2026, announced the 'Reserve Bank of India (Payments Banks - Responsible Business Conduct) Second Amendment Directions, 2026'. This directive aims to enhance customer protection in cases of unauthorized electronic banking transactions.

By consolidating the limits of customer liability in electronic fraud cases, this amendment is a critical step towards strengthening the security measures that payments banks need to adopt to protect their customers' financial transactions.

Legal professionals should align their client consultations and operational practices with these new requirements, ensuring compliance and heightened security in banking transactions for payments banks.

Citations

  • Reserve Bank of India (Payments Banks - Responsible Business Conduct) Second Amendment Directions (2026) RBI/2026-27/169
Practice Areas:banking

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