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The Curious Case Of SBI's Incentives-For-Insurance Sales
Instances of incentives for third party product sales at SBI are on the rise, leading to more mis-selling
20 Nov 2023, 12:59 PM IST
A State Bank of India employee gets a silver coin and an all-expenses-paid trip for a certain number of insurance policies sold. It is not relevant if the customer needs the plan, though, according to at least six SBI officials. The Reserve Bank of India and the Finance Ministry have repeatedly tightened the noose on mis-selling of third-party products and the incentives doled out for recognition. SBI has a bancassurance pact with SB...
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