RBI asks banks to disclose commission from MF,insurers
To lend transparency,the Reserve Bank directed banks to disclose the commission it received from mutual funds and insurers for referring their products to customers.
To lend transparency,the Reserve Bank on Monday directed banks to disclose the commission it received from mutual funds and insurers for referring their products to customers.
8220;It has since been decided that banks should disclose to the customers,details of all the commissions/other fees in any form received,if any,from the various mutual fund,insurance,other financial companies for marketing,referring their products,8221; the RBI said in a notification.
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