RBI moots separation of banks’ wealth management services and advisory functions

2 July 2013 | 2 minutes read

In an effort to mitigate the risks of distributing third-party products, the Reserve Bank of India (RBI) has suggested partitioning wealth management services (WMS) and advisory functions at domestic banks. According to the RBI, various domestic banks currently do not have a “clear segregation of duties” between their marketing and distribution function and investment advisory function. This “juxtaposition” increases the…

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