Being ‘Sachet’ in Curbing Illegal Money Deposits
Taking a significant step towards curbing illegal collection of deposits by unauthorized and illegal entities, RBI recently set up a website named ‘Sachet’ (Alert).
Assessing Suitability – What’s the future for financial providers’ legal duty of care?
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.
Customer Protection through MFI Self-Regulation in India
M-FIN and Sa-Dhan, two key Self-Regulatory Organisations (SROs) of the microfinance industry jointly released their revised Code of Conduct for the Microfinance Industry in December 2015.
“Suitability” and the Law: Moving from scatter gun to straight shooter?
The previous blog post in this series had presented some insights from our review of case law relating to financial products and services.
Upholding Customer Protection: Tales from the Indian Courts
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…
FSLRC on Financial Consumer Protection
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…
FSLRC moots shift in onus of consumer protection from consumer to provider
Why does consumer protection assume so much more significance in financial services, more so than perhaps for other services? Financial services don’t have fixed characteristics.
Regulator Supervision of the Suitability process: An example from UK
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…
A Paradigm for Suitability: Part III
The previous post covered the process of “Suitability” in financial services. Here, we cover aspects of the legal and regulatory structure that will aid in establishing an effective Suitability…
A Paradigm for Suitability: Part II
The previous post delineated the Indian context for finance and suitability as part of our Consumer Protection series. This post delves deeper into the conceptual discussions on suitability as…