Disclose fee from MFs & insurers, RBI tells regional rural banks

“Keeping in view the need for transparency in the interest of the customers... it has since been decided that Regional Rural Banks (RRBs) should disclose to the customers, details of all the commissions or other fees received, if any, from various mutual fund or insurance companies for marketing or referring their products,” RBI said in a notification.
The above instructions, the RBI said, would come into force with immediate effect.

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