Can SBI do the business of SBI life & mutual funds in their banking branch?



i found that someone goes to sbi for FD (fix diposit)his money. there they (staff) convience the person to place his money to sbi life or mutual funds. sometimes they cheat. without customers knowledge they put his money in other schemes.

Can SBI do the business of SBI life & mutual funds in their banking branch?
Rate these answers

5 Replies to “Can SBI do the business of SBI life & mutual funds in their banking branch?”



  1. They can’t put customer’s money in any scheme without customer’s knowledge. People who convince there may be the agents or marketing executives of the product. And they can’t ask you to deposit your money elsewhere when you go there for Fixed deposit. May be they can market their product when the customer asked them for any idea of investment. In SBI there will be separate counters for banking, mutual fund products etc.
    I had experience with SBI where their executives are unaware of their products, http://sameerbloggs.blogspot.com/2009/03/sbi-executives-unaware-of-their.html and also they charged me for depositing a multi city cheque which shouldn’t be charged any service fees, finally I got it refunded. http://sameerbloggs.blogspot.com/2009/02/what-is-multi-city-cheque.html


  2. SBI Life is a Private Life Insurance Company partnered with Cardiff, a Foreign company.

    In other words SBI Life is NOT a Public sector company.

    State Bank of India is providing Space, Infra structure for carrying out business for SBI Life and SBI Mutual Fund.

    SBI is the loser if they redirect FD’s to SBI Life… or other MF’s

    With our customers knowledge they cannot put money in other schemes.






Leave a Reply

Your email address will not be published. Required fields are marked *