Finance
EnglishSitharaman Slams Banks for Their Mis-Selling Antics
Finance Minister Nirmala Sitharaman took banks to task for their sneaky mis-selling of financial products. She wants them to ditch the unnecessary insurance sales and stick to what they do best: loans and deposits! With the RBI on her side, it's time for banks to treat customers right and stop the mis-selling circus!
few days ago | Press Trust of India
Quick rundown
1.Finance Minister criticizes banks for mis-selling insurance.
2.Mis-selling is an offence under Bharatiya Nyaya Sanhita.
3.RBI to enforce stricter norms on mis-selling from July 1.
4.Banks should focus on core business, not insurance sales.
5.RBI maintains neutral stance amid global uncertainty.
