Investor charter may not have a monetary compensation mechanism

The investor charter announced in the Union Budget may not have a monetary compensation mechanism, to pay investors who suffer losses due to mis-selling or any other fraudulent activity.  It, however, will aim to empower investors by guaranteeing them time-bound services from all the intermediaries and departments that come under the purview of financial regulators, said two people in the government.  The finance minister in the Budget had proposed setting up an investor charter on all financial products, including mutual funds and insurance. The Securities and Exchange B.....

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