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RBI's Smooth Moves to Ban Sneaky Sales Incentives

RBI's Smooth Moves to Ban Sneaky Sales Incentives

Yo, the RBI's layin' down the law to keep them banks in check! They droppin' new rules to stop the sneaky sales tactics, like no more shady incentives for bank staff. By July 1, 2026, it’s all about keepin' it real with customer consent and feedback, makin' sure the people know what's up with their money, fo' shizzle!

Quick rundown

  1. RBI proposes new norms to curb mis-selling in banks.
  2. Banks can't bundle third-party products with their own.
  3. Incentives for selling third-party products may be banned.
  4. Customer feedback mechanism to be established within 30 days.
  5. New norms aim to protect consumers and restore trust in banking.

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