India's Financial Services Secretary asks public sector banks to prevent insurance mis-selling and protect customers' interests.
India's Financial Services Secretary, Vivek Joshi, has asked public sector banks to prevent mis-selling of insurance products and protect account holders' interests. Banks have been sensitized to the issue, as the Department of Financial Services regularly receives complaints about fraudulent practices, including pushing life insurance policies to senior customers. Banks have been urged to prioritize customers' interests.
March 17, 2024
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