There is mis-selling in mutual funds. True or False?
Frankly I do not know what is mis-selling so I cannot comment. This is what a rational person is supposed to say.
But our powerful mandarins say yes, yes…we will legislate against it.
Will the SEBI please stand up and come out with a white paper and say ‘What is mis-selling?’ . Is selling life insurance to a 55 year old bachelor whose parents are dead mis-selling? I do not know I am asking!
If I promise a man 15% p.a. compounded return after 20 years, but find that it has grown at 12% for the past 2 years, amd I mis-selling? Asking guys, asking?
If I say ‘Dividends and Capital Gains will always be tax free’ – is it my foolishness or the client’s foolishness? Hmmm I do not know.
So make a statement – “There is too much mis-selling, this has to be curbed” – a motherhood statement and Mint reports this in the first page, I need somebody to tell me what this article means…plz…
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