..........."While the intent and basic structure for TCF is in place in India for banking products, it is now being considered to extend TCF structure to third-party products like mutual funds, capital markets and insurance products sold by banks," RBI said. The Banking Codes and Standards Board of India and the Banking Ombudsman Scheme are examples. But how feasible is it to extend the same to third-party products, which are not regulated by RBI? RBI itself says successful implementation will require a change in mindset in firms' leadership and that TCF measures were used to influence performance appraisal and incentive structures..........
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