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MUMBAI: HDFC Bank has terminated three employees, including senior executives, after an internal probe into the alleged mis-selling of Credit Suisse AT-1 bonds to NRI clients at its UAE operations. The action follows regulatory scrutiny and investor complaints. Shares of the bank closed down 2.4%, continuing Thursday’s decline following the sudden resignation of the bank’s…
Until these regulations take effect and prove their worth through actual enforcement, your best defence is radical simplicity. For years, I have been writing about how the personal finance system is designed to extract money from ordinary savers rather than serve them. Just a few weeks ago, I discussed a book by John Campbell and…
AI image used for representation purpose only NEW DELHI: The Reserve Bank of India has proposed a new set of rules that could reshape how banks and financial institutions sell insurance, loans, mutual funds and other financial products to customers.Issued on February 11, 2026, the draft All India Financial Institutions — Responsible Business Conduct Amendment…
NEW DELHI: In a stern message, finance minister Nirmala Sitharaman on Monday asked banks to focus on core banking and said it was an offence to mis-sell insurance products.“I am glad that RBI is coming up with guidance on why mis-selling will not be entertained. The message should go to the banks that you cannot…
Finance minister Nirmala Sitharaman on Monday issued a warning to banks against mis-selling financial products, stressing that such practices now constitute an offence under the Bharatiya Nyaya Sanhita (BNS) and must stop as regulators tighten oversight.Addressing reporters after her customary post-Budget interaction with the RBI Central Board, Sitharaman said banks should return their focus to…
MUMBAI: Reserve Bank of India (RBI) has sharply tightened the definition of mis-selling, removing one of the biggest defences used by banks and insurance companies that the customer had explicitly consented by signing documents. Under the new framework, regulated entities will also have to make full refunds in cases of proven mis-selling.In the Draft Reserve…
Mis-selling continues to be a key concern in the insurance sector, with the regulator asking insurers to dig deeper into the root causes behind such practices, according to the latest annual report of the Insurance Regulatory and Development Authority of India (Irdai).While the total number of grievances against life insurers remained largely unchanged at 1,20,429…
MUMBAI: Insurance regulations to prevent mis-selling are set to tighten with the Insurance Regulatory and Development Authority of India (Irdai) set to frame stricter norms on commission disclosure and conflicts of interest, enabled by amendments cleared in the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025.The amendments give the regulator explicit powers to…
