{"id":17329,"date":"2024-04-18T17:18:29","date_gmt":"2024-04-18T11:48:29","guid":{"rendered":"https:\/\/ncfe.org.in\/od\/?p=17329"},"modified":"2024-04-18T17:19:30","modified_gmt":"2024-04-18T11:49:30","slug":"misselling","status":"publish","type":"post","link":"https:\/\/ncfe.org.in\/od\/misselling\/","title":{"rendered":"MISSELLING"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17329\" class=\"elementor elementor-17329\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-243893a e-flex e-con-boxed e-con e-parent\" data-id=\"243893a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f13bec2 elementor-widget elementor-widget-text-editor\" data-id=\"f13bec2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Since the business environment is fiercely competitive, many businesses adopt malpractices and cut corners for growth and profitability. Poor consumer services and malpractices such as mis-selling are often the result of such behaviour. Mis-selling is when someone tries to trick you into buying something you don&#8217;t really need or that doesn&#8217;t fit your situation. It happens when people use lies or pressure to make you purchase stuff. Imagine you&#8217;re at the store, and a smooth-talking salesperson convinces you to buy an expensive gadget that you&#8217;ll never really use. That&#8217;s a bit like mis-selling, but on a bigger scale. It&#8217;s when companies or individuals use all sorts of tactics to make you buy financial stuff you don&#8217;t need or understand, like loans, insurance, or investments. Especially in the world of financial services, where the products are intangible and complex, consumers can be easily fooled. They might not tell you about all the sneaky fees, or they could paint a picture of amazing returns that&#8217;s just too good to be true. If you get caught up in mis-selling, it can cost you a lot of money and even get you into trouble with the law. So, it&#8217;s super important to be careful when you&#8217;re making decisions about your money, and if you ever think someone tricked you, you should talk to a legal expert for help. Take your time to learn about your options, ask lots of questions, and don&#8217;t be afraid to say no if something doesn&#8217;t feel right. Your money is valuable, and it&#8217;s worth protecting.<\/p><p>Precautions to Avoid Mis-Selling:<br \/>1. Know Your Rights: Educate yourself about your rights as a consumer. Understand the terms and conditions of any product or service you&#8217;re considering for purchase.<br \/>2. Ask Questions: Don&#8217;t be shy to ask questions when you&#8217;re talking to someone who&#8217;s selling you something. It&#8217;s your right to know about the details, like how much it costs or if there are any hidden problems.<br \/>3. Read the term and conditions: Always read the terms and conditions of any contract or agreement. Watch out for any tricky rules or conditions that could cause trouble later on.<br \/>4. Lack of Knowledge: New products are constantly being introduced to the market. A major cause of mis-selling is investors&#8217; lack of knowledge of financial goods. Lack of transparency is another cause. If one lacks financial literacy, they can learn how to understand the product or seek the advice of a financial advisor.<br \/>5. Seek Independent Advice: Consult a financial advisor or expert who is not associated with the seller. They can give you fair advice.<br \/>6. Understand Your Risk: Make sure any financial decisions you make match how much risk you&#8217;re okay with.<br \/>7. Never buy a product you do not understand: The golden rule to prevent mis-selling is not to buy a product unless you have understood the product fully. New products keep on hitting the market from time to time.<br \/>8. Avoid impulsive buying: Don&#8217;t feel like you have to decide right away. If someone is rushing you to buy something, it&#8217;s a red flag. Take your time to think about it. Even if the product is available for a limited time or the agent claims so, instead of jumping on to buying the product, it is advisable to conduct proper due diligence first<br \/>9. Keep Records: Keep records of all communication, including emails, messages, and documents related to the transaction. This can be useful in case of disputes.<br \/>10. Report Mis-Selling: If you ever think you&#8217;ve been tricked into buying something, don&#8217;t hesitate to tell the people who make sure things are fair (Financial Regulator&#8217;s Grievance Redressal Mechanism). They can help make things right.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Since the business environment is fiercely competitive, many businesses adopt malpractices and cut corners<\/p>\n","protected":false},"author":1,"featured_media":18039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MISSELLING - Odia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ncfe.org.in\/od\/misselling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MISSELLING - 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