‘No agreement…’: RBI strengthens rules against mis-selling by banks and influencers | Ways to safeguard yourself from deceptive products
RBI Implements Stricter Regulations on Financial Product Sales The Reserve Bank of India (RBI) announced new regulations on Monday aimed at combating fraudulent sales of financial products by banks and other financial institutions. These revised guidelines will be enforced starting January 1, 2027. According to the new regulations, banks are prohibited from creating incentive plans […]
Lloyds increases charge for mis-selling motor finance by $1.1 billion
Lloyds Banking Group Faces Major Provisions Over Mis-selling Scandal LONDON, Oct 13 – Lloyds Banking Group has stated on Monday that it will allocate an additional £800 million ($1.1 billion) in compensation for customers impacted by its car finance mis-selling scandal. This adjustment increases the total provisions to £1.95 billion. To date, Lloyds had already […]