Mis Selling

The banking sector must clean up its act on mis-selling financial products, the RBI has cautioned

India’s top banks earn Rs 21,773 crore in insurance commissions amidst mis-selling concerns

Of 10 banks surveyed on commissions earned through their insurance arms, seven earned more than half of their insurance commissions by selling policies from affiliated insurers, a report says

RBI to introduce new guidelines on conduct of banks to tackle the issue of mis-selling

This move comes as part of an effort to curb practices that lead to consumer detriment and to ensure a level playing field in the financial services sector, he said.

Banking Central | What’s the best New Year gift banks can give us in 2024?

Banks must stop pressuring junior executives to engage in relentless cold calling to sell loans that customers do not need or peddle complex investment products that clients do not fully understand

Indian edtech a role model in self-regulating ad practices: IAMAI citing ASCI report

ASCI's report and IAMAI's comments will be encouraging for edtech companies like Byju's and Unacademy in India, which have come under fire over the last 12-15 months for alleged mis-selling of courses and overstating outcomes.

Indian Edtech Consortium has improved advertising standards for companies: Divya Gokulnath, co-founder, Byju's

Gokulnath’s comments on the IEC improving advertising standards come at a time when her company, Byju’s, has come under fire for alleged mis-selling of courses from parents and students.

Byju’s to open 300 physical tuition centers this year as it bets big on hybrid learning

Byju Raveendran said that the company is experiencing continued momentum in demand for its core business, which is online K-12 learning, even as some of the company's closest competitors are witnessing slower growth following the pandemic.

Davos 2023: Let the world think Byju’s is struggling, give us 6 months, says Byju Raveendran

In a chat with Moneycontrol, Bjyu’s founder Byju Raveendran and co-founder Divya Gokulnath exuded confidence about turning profitable on a company level over the next quarter. They also spoke about exiting some branding contracts to optimise costs.

Byju’s will not renew its branding partnerships with BCCI, ICC and FIFA, says CEO Raveendran

Byju's currently has three large branding partnerships with the BCCI (Board of Control for Cricket in India), ICC (International Cricket Council), and FIFA (Federation Internationale de Football Association) that will be up for renewal, but the company will not renew any of them, according to co-founder and CEO Byju Raveendran.

Davos 2023 | Byju's 2.0 will be much better, the worst is behind us, says Byju Raveendran

Raveendran also claimed that by the end of this quarter or by the next quarter FY24, Byju's will turn profitable on a company level

Messi, mis-selling, sackings, and burning cash: Byju's’ annus horribilis

The startup superstar has gone from hero to zero rather rapidly. Will the picture be somewhat different in 2023? Coming soon to a screen near you

We tell edtech companies to avoid using ambiguous language in ads: Justice BS Chauhan, IGRB chief

The comments from former SC Judge come at a time when edtech companies in India, including some of the biggest have come under fire for allegedly mis-selling and over-selling of courses and subscriptions

Consumer affairs secretary reviews redressal of complaints under edtech consortium

Consumer Affairs Secretary's move to take note of the redressal of complaints comes at a time when edtech companies in India have been under fire for alleged mis-selling and overselling to parents and learners.

Everyone taught Tanisha: Why the same topper’s face appears on multiple coaching centre ads

From straightforward pitches, to offers of cash and cars, and even blackmail, coaching centres caught in the vortex of intense rivalry are trying every trick to lure the brightest students so that they can leverage the association with the toppers later

Know your rights and protect yourself from your bank’s mis-selling practices

Mis-selling complaints against banks have jumped 92.57 per cent in 2018-19 over the previous year, according to RBI’s annual report

4 common mis-selling techniques of insurance agents

Be aware, ask questions, read the proposal and final document carefully and only then part with your hard-earned money.

Your bank may not be recommending the right fund to you

Data on commissions earned and assets managed confirm the trend

LIC seeks deadline extension to meet guidelines

Life Insurance of India (LIC) has said it has asked the regulator for extending the deadline for withdrawing existing products that do not meet the new norms from October 1.

Why is mis-selling so prevalent in insurance sector?

Deepak Yohannan of myinsuranceclub.com explains the reasons behind mis-selling of insurance policies, which is the reason behind the sector's downfall in the country.

Indian banks should move wealth mgmt services to arms: RBI

The banks will need to get RBI's approval to create subsidiaries, which would be then registered with SEBI

Should the agents be solely blamed for mis-selling?

Many articles, many opinions and many comments across various newspapers, business channels and internet predominantly paint the agents in black. But is it all their fault? Financial expert Sanjay Matai reckons even the insurance companies, banks and mutual funds are equal partners in this misdeed.