RBI seeks to end mis-selling at bank counters, mandates refunds
The draft guidelines introduces a clear definition of ‘mis-selling,’ covering cases such as selling products that are unsuitable for a customer’s profile, providing misleading or incomplete information, selling without ‘explicit consent,’ and forcing customers into ‘compulsory bundling’ of products.
The draft guidelines introduces a clear definition of ‘mis-selling,’ covering cases such as selling products that are unsuitable for a customer’s profile, providing misleading or incomplete information, selling without ‘explicit consent,’ and forcing customers into ‘compulsory bundling’ of products.
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