**Executive Summary**
The Reserve Bank of India (RBI) issued draft amendment directions on February 11, 2026, concerning the advertising, marketing, and sales of financial products and services by regulated entities. These directions propose amendments to existing regulations for various types of banks and Non-Banking Financial Companies (NBFCs). Feedback on the draft directions is requested by March 4, 2026.
**Key Points / Main Content**
* **Purpose:** To issue comprehensive instructions on advertising, marketing, and sales of financial products and services to all banks and NBFCs.
* **Scope:** Includes aspects related to Direct Sales Agents (DSAs) / Direct Marketing Agents (DMAs), dark patterns, prevention of mis-selling, and third-party products and services.
* **Amendment Directions for Responsible Business Conduct:**
* 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
* **Amendment Directions for Undertaking of Financial Services:**
* Commercial Banks
* Small Finance Banks
* Payments Banks
* Regional Rural Banks
* Urban Co-operative Banks
* Rural Co-operative Banks
* Non-Banking Financial Companies
* **Feedback Submission:** Comments/feedback on the draft Amendment Directions can be submitted by March 4, 2026, via:
* '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:** The entities are impacted because the RBI is introducing comprehensive instructions on advertising, marketing and sales of financial products and services to all banks and NBFCs.
* **Action Required:** Review the draft amendment directions and provide feedback/comments to the RBI by March 4, 2026, through the specified channels.
**Members of the Public / Other Stakeholders**
* **Impact:** The public are impacted because the RBI is looking to introduce customer appropriateness and suitability instructions and other related matters to ensure prevention of mis-selling.
* **Action Required:** Review the draft amendment directions and provide feedback/comments to the RBI by March 4, 2026, through the specified channels.
Key Entities Referenced
Reserve Bank of India: Central bank of India, issuing the draft amendment directions.
Statement on Developmental and Regulatory Policies: Policy statement which prompted the issuance of draft amendment directions.
Reserve Bank of India (Responsible Business Conduct) Amendment Directions, 2026: Draft amendment directions for various banks and financial institutions.
Reserve Bank of India (Undertaking of Financial Services) Directions, 2025: Existing regulatory framework on ‘Agency Business and Referral Services’ being amended.
Department of Regulation, RBI: Department within the Reserve Bank of India responsible for issuing the 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