https://www.taxtmi.com/news?id=71223 Mis-selling of financial products is treated as a criminal offence under the Bharatiya Nyaya Sanhita; the RBI's draft mis-selling guidelines require banks to refund the full amount paid and compensate customers for any loss under an approved policy, with the draft open for public feedback and stricter norms proposed to take effect from July 1. The Finance Minister urged banks to focus on core banking activities and address a regulatory gap between banking and insurance oversight, while the RBI framed the guidance within broader deposit, credit growth and liquidity considerations. en-us Mon, 23 Feb 2026 14:46:03 +0530 Mon, 23 Feb 2026 14:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=71223 Mis-selling of financial products is treated as a criminal offence under the Bharatiya Nyaya Sanhita; the RBI's draft mis-selling guidelines require banks to refund the full amount paid and compensate customers for any loss under an approved policy, with the draft open for public feedback and stricter norms proposed to take effect from July 1. The Finance Minister urged banks to focus on core banking activities and address a regulatory gap between banking and insurance oversight, while the RBI framed the guidance within broader deposit, credit growth and liquidity considerations. News - Mon, 23 Feb 2026 14:46:03 +0530 https://www.taxtmi.com/news?id=71223