Digital banking not must for accessing other services: RBI

THE Reserve Bank of India has said a bank or financial services provider cannot force a customer to use digital banking channels as a precondition for accessing other services and that the lender has to take explicit prior consent from the customer for offering digital banking services.

- ENS ECONOMIC BUREAU @Mumbai

The regulator on Friday issued the final draft guidelines on digital banking channels, stating that banks must obtain explicit consent from customers before providing digital banking services, which may be duly recorded/documented. RBI further said lenders cannot make it mandatory for customers to opt for any digital banking channel to avail other facilities such as debit cards.