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.
The Reserve Bank of India has implemented new regulations prohibiting third-party incentives for employees of regulated entities, effective January 1, 2027. These norms aim to curb aggressive sales tactics and mis-selling by ensuring customer choice and preventing product…
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