Guidelines for Suitability in Lending to Low-Income Households
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.
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.
“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…
Suitability becomes a Customer Right
The RBI has published on its website the final Charter of Customer Rights for banking customers.
Revisiting the core ideas of CCFS
The Report of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households (CCFS) was submitted to the Reserve Bank of India (RBI) in January this…
Towards a Suitability-based Customer Protection Regime in India
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.
CCFS Recommendations on Credit Delivery – Part 2
The CCFS recommendations pertaining to national full-service banks and regional banks have been covered in our previous post. Unlike these deposit-taking institutions, the third category of institutions, namely, RBI-regulated…
CCFS Recommendations on Credit Delivery – Part 1
The RBI Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (CCFS) lays out several recommendations to strengthen the supply side with respect to credit outreach through…
The Suitability Approach to Client Protection: Comments on the Mor Committee Report
The Mor Committee Report offers a radical take on client protection, built around the concept of a legal right to suitability.