Panel: Make retail financial products investor-friendly

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New Delhi | Published: September 4, 2015 12:29:00 AM

Seeking same tax regimes for similar products, it also said costs for similar functions across product categories should be the same — mutual funds or insurance or pension products.

A committee set up by the government to recommend measures for curbing mis-selling and rationalising distribution incentives in financial products has suggested that retail financial products must have structures that allow costs and benefits to be easily understood by a retail investor.

Seeking same tax regimes for similar products, it also said costs for similar functions across product categories should be the same — mutual funds or insurance or pension products.

The report of the panel headed by former finance secretary Sumit Bose, which was set up in November 2014, has been put up on the finance ministry website on Thursday.

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