............RBI has a say on the salaries and bonuses of bank CEOs of private and foreign banks, but does not tinker with staff salaries. It may ban banks from selling third-party products though their branches. If banks do not get their act together, they may even be asked to float a 100 per cent subsidiary to sell financial products, said the RBI official. Staff at private and foreign banks are incentivised to sell insurance products and mutual funds, mobilising deposits and trading in bonds and currencies.
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