Suma R.V. Comments on RBI’s Action Against Axis Bank’s Sales Incentive Practices

Suma’s comments were featured in a recent article published by Mint titled “RBI pulls up Axis Bank over contests to generate business.”

In the article, Suma R.V. provided expert commentary on the Reserve Bank of India’s (RBI) recent actions concerning Axis Bank’s incentive schemes. She remarked:

“While RBI typically does not interfere in staff salaries or incentive schemes, this move suggests that the regulator may be looking into whether such rewards encourage aggressive sales tactics, leading to mis-selling of financial products like Casa.”

Read more: https://www.livemint.com/companies/rbi-pulls-up-axis-bank-over-contests-to-generate-business-violation-banking-internal-contest/amp-11725945784643.html

Last Updated on 11 September, 2024