The past year has seen many commentaries on the rapid expansion of microfinance in India warning of the imminent consequences of unbalanced growth.
In December 2014, the Reserve Bank of India published the Charter of Customer Rights as a commitment to protecting the interests of consumers of financial services.
In the previous blogpost we noted the gradual shift away from the buyer-beware standard in case law and policy regarding customers of financial products.
The previous blog post in this series had presented some insights from our review of case law relating to financial products and services.
It is not often that the Supreme Court of India becomes disgruntled by the death of a buffalo. In September 2012, the highest court of the land found itself…
The RBI has published on its website the final Charter of Customer Rights for banking customers.
The current regulatory approach to customer protection in India can be divided into two complementary ex-ante approaches- mandated information disclosure, and financial literacy and education.
The Mor Committee Report offers a radical take on client protection, built around the concept of a legal right to suitability.
Keeping in mind the existing state of consumer protection measures in place for India, FSLRC has proposed a consumer protection framework for financial services, with the stated objectives being…
We have presented Suitability as the paradigm of choice for India’s financial system and have put forward the idea of Suitability as a board-approved process that each financial services…