Economic TimesLean R·
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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