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Guidelines on Investment Advisory Services offered by Banks21/04/2016

RBI - DBR.No.FSD.BC.94/24.01.026/2015-16 - Dated:- 21-4-2016 - RBI/2015-16/379 DBR.No.FSD.BC.94/24.01.026/2015-16 April 21, 2016 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Guidelines on Investment Advisory Services offered by Banks Please refer to paragraphs 86, 87 and 88 of the Monetary Policy Statement 2013-14 and the subsequent draft guidelines on Wealth Management/Marketing/Distribution Services offered by Banks issued on June 28, 2013, seeking comments of stakeholders. .....

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gly, banks desirous of offering these services may do so either through a separate subsidiary set up for the purpose or one of the existing subsidiaries after ensuring that there is an arm s length relationship between the bank and the subsidiary. 3. The sponsor bank should obtain specific prior approval of Department of Banking Regulation before offering IAS through an existing subsidiary or for setting up a subsidiary for this purpose. (Setting up of any subsidiary will, as hitherto, be subjec .....

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