RBI releases Draft Master Direction on ‘Digital Banking Channels Authorisation’: invites Comments from Public and Stakeholders

The RBI (Reserve Bank of India) has released a "draft master direction on digital banking channels authorisation," inviting comments from the public and stakeholders. This initiative aims to establish comprehensive guidelines for licensing and regulating digital banking operations, ensuring financial stability, consumer protection, and promoting innovation in the digital financial landscape. By inviting feedback, the RBI seeks to create a robust and inclusive framework that facilitates the growth of digital banking services while addressing potential risks and incorporating diverse perspectives from the industry and public.