Cost of free alerts: RBI’s SMS order may dent banks’ income by Rs 300 crore
Published on: July 8, 2026, 1:07 a.m. | Source: The Economic Times
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.
