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RBI sets rules for selling financial products
Reserve Bank of India (RBI) has clarified that payment of incentives by third parties to employees of regulated entities (REs) is prohibited but banks of NBFCs are free to incentivise employees for sale of financial products.In final norms on advertising, marketing and sales of financial products RBI said the intention is to ensure that the incentive structures do not lead to aggressive sales practices or mis-selling of products. The final directions are effective from January 1 2027.The centra…
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