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RBI puts curbs on banks' sale of third-party products
The Reserve Bank of India has prohibited third-party incentives to employees of regulated entities, while allowing banks and NBFCs to reward staff for selling financial products. New norms, effective January 1, 2027, aim to prevent aggressive sales and mis-selling by ensuring customers have choices and prohibiting product bundling. Social media influencers will be treated as direct selling agents.
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thehindubusinessline.com
RBI to Banks & NBFCs: Ensure policies and practices do not create incentives for mis-selling
RBI mandates banks and NBFCs to prevent mis-selling and ensure explicit customer consent for financial products starting January 2027.
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timesofindia.indiatimes.com
RBI tightens mis-selling rules; banks barred from incentive structures that encourage aggressive sales
In order to curb mis-selling and hold regulated entities accountable across all distribution channels, including social media influencers and digital marketing intermediaries, the…
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RBI issues stricter norms to curb mis-selling by lenders
MUMBAI: Reserve Bank of India has finalised its consumer protection framework under responsible business conduct guidelines, tightening rules on mis-selling, deceptive digital…
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economictimes.indiatimes.com
RBI puts curbs on banks' sale of third-party products
The Reserve Bank of India has prohibited third-party incentives to employees of regulated entities, while allowing banks and NBFCs to reward staff for selling financial products.…