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THIRD PARTY PRODUCT DISTRIBUTION IN RETAIL BANKING
What is meant by Third Party Product Distribution (TPPD) in retail banking?
TPPD refers to the activity where banks act as agents or brokers to sell financial products manufactured by third parties such as insurance companies, mutual funds, and pension fund managers to their customers.
What is bancassurance in the context of retail banking?
Sale of insurance products through bank branches as distribution channel.
Which regulatory body governs the distribution of insurance products by banks in India?
The Insurance Regulatory and Development Authority of India (IRDAI) governs insurance distribution, while the Reserve Bank of India (RBI) issues guidelines on banks' role as corporate agents or brokers.
What is the maximum number of life insurers a bank corporate agent can tie up with?
One life insurer under IRDAI corporate agent regulations.
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