RBI's SMS alert rule change to cost banks Rs 300 crore

RBI SMS alerts banking

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The Reserve Bank of India's directive to stop charging customers for SMS alerts could cost large lenders up to Rs 300 crore in lost fee income.
While banks can now make alerts for low-value transactions optional, top private banks are expected to continue them for customer experience and fraud detection.

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The Reserve Bank of India's directive to stop charging customers for SMS alerts could cost large lenders up to Rs 300 crore in lost fee income. While banks can now make alerts for low-value transactions optional, top private banks are expected to continue them for customer experience and fraud detection.

Read the full article on Economic Times

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RBI's SMS alert rule change to cost banks Rs 300 crore

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