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The Economic Times

Economy / The Economic Times

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Cost of free alerts: RBIs SMS order may dent banks income by Rs 300 crore

Banks have also been given the flexibility of dropping mandatory alerts for lowvalue transactions. However, top-draw private banks, such as HDFC Bank or ICICI Bank, are unlikely to reduce SMS alerts for such transactions to ensure their reputation for technology adoption and customer experience isnt compromised.

8 Jul 2026 1:07 am