MUMBAI, India, Feb. 6 -- Reserve Bank of India issued the following press release:
This Statement sets out various developmental and regulatory policy measures relating to (i) Regulations; (ii) Payments System; (iii) Financial Inclusion; (iv) Financial Markets; and (v) Capacity Building.
I. Regulations
1. Advertising, Marketing and Sales of Financial Products and Services by Regulated Entities (REs)
Mis-selling financial products and services by any RE has significant consequences for both customers as well as the RE. There is a felt need to ensure that third party products and services that are being sold at the bank counters are suitable to customer needs and are commensurate with the risk appetite of individual clients. It has theref...