Bought the wrong policy? RBI proposes 100% refund for mis-sold financial products
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In a major relief for customers, banks will now have to prove that a financial product actually suits you before selling it. For the first time, the RBI is making “suitability” a legal requirement. This means that before offering you insurance, mutual funds, or even credit cards, banks must assess factors like your income, age, financial understanding and risk appetite.
