**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI), dated February 11, 2026, regarding the issuance of draft Amendment Directions for 'Advertising, Marketing and Sales of Financial Products and Services by Regulated Entities'. It includes a comprehensive set of instructions applicable to all banks and NBFCs. Public comments and feedback on the draft Amendment Directions are requested by March 4, 2026.
**Key Points / Main Content**
* **Background:**
* Existing instructions focus on customer appropriateness in the insurance agency business for Scheduled Commercial Banks (excluding Regional Rural Banks) and Housing Finance Companies.
* RBI has decided to issue comprehensive instructions on advertising, marketing, and sales of financial products and services to all banks and NBFCs.
* **Scope of New Instructions:**
* Includes third-party products and services.
* Covers aspects such as Direct Sales Agents (DSAs) / Direct Marketing Agents (DMAs), dark patterns, and prevention of mis-selling.
* **Draft Amendment Directions Issued:**
* In pursuance of the Statement on Developmental and Regulatory Policies dated February 6, 2026, RBI has issued draft Amendment Directions for public comments.
* These directions propose to amend existing Directions issued by the Department of Regulation, RBI.
* These draft amendment directions are available for a range of Regulated entities (REs) and are structured around two main themes:
* Responsible Business Conduct
* Undertaking of Financial Services
* RBI has issued 17 draft amendment directions applicable to various REs, including:
* 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
* Housing Finance Companies
* **Feedback and Submission:**
* Comments and feedback are requested from regulated entities, members of the public, and other stakeholders.
* Deadline for submission: March 4, 2026.
* Submission Channels:
* 'Connect 2 Regulate' section on the RBI website.
* Email with the subject line 'Feedback on (full name of the draft Amendment Directions (including the type of Regulated Entity))'.
**Impact Analysis**
**Regulated Entities (Banks and NBFCs)**
* **Impact:** These entities will be required to comply with the new comprehensive instructions regarding advertising, marketing, and sales of financial products and services. The changes impact responsible business conduct and financial service provisions.
* **Action Required:** Review the draft Amendment Directions applicable to their specific type of institution and provide feedback/comments to RBI by March 4, 2026.
**Customers/Public**
* **Impact:** The new directions aim to improve customer appropriateness, suitability, and prevent mis-selling of financial products and services.
* **Action Required:** Members of the public can provide feedback/comments to RBI on the draft Amendment Directions by March 4, 2026.
**Direct Sales Agents (DSAs) / Direct Marketing Agents (DMAs)**
* **Impact:** Their activities will be subject to the new instructions.
* **Action Required:** Need to align their practices with the new regulations after they are finalized.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for issuing the draft amendment directions.
Draft Amendment Directions for ‘Advertising, Marketing and Sales of Financial Products and Services by Regulated Entities: The primary subject of the press release, encompassing guidelines for advertising, marketing, and sales of financial products.
Statement on Developmental and Regulatory Policies: The policy statement that prompted the Reserve Bank of India to issue the draft Amendment Directions.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
February 11, 2026
RBI Issues Draft Amendment Directions for ‘Advertising, Marketing and Sales
of Financial Products and Services by Regulated Entities’
Currently, instructions on customer appropriateness and suitability and other
related matters in the context of insurance agency business have been issued to
Scheduled Commercial Banks (excluding Regional Rural Banks) and Housing
Finance Companies. Upon a review, it has been decided to issue comprehensive
instructions on advertising, marketing and sales of financial products and services
(including third-party products and services) to all banks and NBFCs, which shall
include various aspects related thereto, such as activities of Direct Sales Agents
(DSAs) / Direct Marketing Agents (DMAs), dark patterns, prevention of mis-selling,
etc.
2. Accordingly, in pursuance of the announcement made in the Statement on
Developmental and Regulatory Policies dated February 6, 2026, the Reserve Bank of
India (RBI) has today issued the following draft Amendment Directions for public
comments, which propose to amend existing Directions issued by the Department of
Regulation, RBI.
(i) Reserve Bank of India (Commercial Banks - Responsible Business Conduct)
Amendment Directions, 2026
(ii) Reserve Bank of India (Small Finance Banks - Responsible Business
Conduct) Amendment Directions, 2026
(iii) Reserve Bank of India (Payments Banks - Responsible Business Conduct)
Amendment Directions, 2026
(iv) Reserve Bank of India (Local Area Banks - Responsible Business Conduct)
Amendment Directions, 2026
(v) Reserve Bank of India (Regional Rural Banks - Responsible Business
Conduct) Amendment Directions, 2026
(vi) Reserve Bank of India (Urban Co-operative Banks - Responsible Business
Conduct) Amendment Directions, 2026
(vii) Reserve Bank of India (Rural Co-operative Banks - Responsible Business
Conduct) Amendment Directions, 2026
(viii) Reserve Bank of India (All India Financial Institutions - Responsible Business
Conduct) Amendment Directions, 2026
(ix) Reserve Bank of India (Non-Banking Financial Companies - Responsible
Business Conduct) Amendment Directions, 2026
(x) Reserve Bank of India (Housing Finance Companies) Amendment Directions,
20262
3. In the above backdrop, the regulatory framework on ‘Agency Business and
Referral Services’ offered by REs, issued vide Reserve Bank of India (Undertaking of
Financial Services) Directions, 2025, has also been reviewed and is proposed to be
amended through issuance of the following draft Amendment Directions:
(i) Reserve Bank of India (Commercial Banks – Undertaking of Financial
Services) Amendment Directions, 2026
(ii) Reserve Bank of India (Small Finance Banks – Undertaking of Financial
Services) Amendment Directions, 2026
(iii) Reserve Bank of India (Payments Banks – Undertaking of Financial Services)
Amendment Directions, 2026
(iv) Reserve Bank of India (Regional Rural Banks – Undertaking of Financial
Services) Amendment Directions, 2026
(v) Reserve Bank of India (Urban Co-operative Banks – Undertaking of Financial
Services) Amendment Directions, 2026
(vi) Reserve Bank of India (Rural Co-operative Banks – Undertaking of Financial
Services) Amendment Directions, 2026
(vii) Reserve Bank of India (Non-Banking Financial Companies – Undertaking of
Financial Services) Amendment Directions, 2026
4. The comments / feedback on the draft Amendment Directions may be submitted
by the regulated entities and members of public / other stakeholders on or before
March 4, 2026 through the following channels:
i. the ‘Connect 2 Regulate’ section on the website by following the
corresponding hyperlink provided against each document in the page where
they are hosted; or
ii. by email with the subject line ‘Feedback on (full name of the draft Amendment
Directions (including the type of Regulated Entity))’.
(Brij Raj)
Press Release: 2025-2026/2091 Chief General Manager