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RBI proposes July 1 rollout of stricter mis-selling rules for banks

The Reserve Bank of India is introducing new rules for banks. Banks must now refund customers fully if a product or service is mis-sold. They also need to compensate customers for any losses incurred. These guidelines aim to protect customers and ensure fair practices in banking. The central bank is seeking feedback before implementing these changes.

11 Feb 2026 7:31 pm