The Reserve Bank of India has introduced a new framework for marketing financial products and services. The rules cover influencers, affiliate marketers, and fintech partners. The guidelines will take effect on January 1, 2027. RBI aims to promote responsible marketing and improve customer awareness. It also wants consumers to receive accurate information across all channels.
What Are RBI’s New Rules on Financial Advertising?
Under the new framework, banks, non-banking financial companies (NBFCs) and other regulated entities will be responsible for all marketing and sales activities carried out on their behalf.
The rules apply to employee-led promotions and third-party marketing campaigns. They also cover influencers, affiliates, fintech partners, and agencies. RBI clarified that regulated entities remain responsible for all promotional content.
Why Has RBI Introduced New Guidelines for Influencers and Financial Marketing?
According to the RBI, the objective is to prevent aggressive sales practices and reduce the risk of mis-selling financial products.
The regulator wants to ensure that customers receive transparent and accurate information when choosing loans, credit cards, investment products and other financial services.
By holding financial institutions accountable for third-party marketing, the RBI aims to strengthen consumer protection and improve trust in the financial system.
Will Influencers Be Covered Under the New RBI Framework?
One of the biggest changes introduced by the framework is the inclusion of influencers and affiliate marketers within the broader oversight structure governing financial product promotion.
While the RBI has not created a separate category specifically for influencers, financial creators, affiliate marketers, lending service providers and digital acquisition partners will effectively fall under the same compliance expectations that apply to Direct Selling Agents (DSAs) and Direct Marketing Agents (DMAs).
This means banks and NBFCs will need to closely monitor content created by influencers promoting their products.
Which Financial Institutions Are Covered by the New Rules?
The framework applies to a wide range of regulated entities, including:
- Banks
- Non-Banking Financial Companies (NBFCs)
- Housing Finance Companies
- Small Finance Banks
- Payment Banks
- Cooperative Banks
- Regional Rural Banks
These institutions will remain responsible for all advertising, marketing, and sales activities. This includes campaigns run directly or through third-party partners.
Can Bank and NBFC Employees Accept Incentives From Third Parties?
The RBI has clarified that employees of regulated entities cannot receive incentives from third parties for selling financial products.
However, banks and NBFCs can continue rewarding their employees through internal compensation and performance-linked incentive structures.
The move aims to reduce conflicts of interest. It also discourages sales practices that may not benefit customers.
What Changes Will Banks, NBFCs and Fintechs Need to Make?
Financial institutions may need to update several aspects of their operations before the rules take effect.
This could include revising contracts with influencers and marketing partners, strengthening compliance systems, improving oversight of promotional content and updating customer onboarding processes.
Companies may also need to make changes to app interfaces, websites and customer communication practices to ensure compliance with the new framework.
What Has RBI Said About Customer Consent and Device Permissions?
The RBI has also provided clarity on customer onboarding practices involving access to device features.
According to the regulator, requests for permissions such as camera access, location data or other device functionalities will not automatically be considered a “forced action” as long as the purpose for seeking access is clearly disclosed to customers beforehand.
The emphasis remains on transparency and informed consent.
When Will RBI’s New Rules Take Effect?
The new framework will become effective on January 1, 2027.
The RBI has provided financial institutions with a transition period to review their systems, strengthen controls and ensure compliance before the rules become mandatory.
From 2027 onwards, whether a financial product is marketed through a bank employee, influencer, fintech partner or affiliate marketer, the regulated entity will be responsible for the message reaching consumers.
What Does This Mean for the Future of Financial Influencer Marketing?
The new framework signals a major shift in how financial products will be promoted in India.
As financial influencers continue to play a growing role in customer acquisition and product awareness, banks and NBFCs will need to exercise greater oversight over the content being created in their name.
The rules are expected to encourage more responsible marketing practices while increasing accountability across India’s rapidly evolving financial and fintech ecosystem.