Mis-selling has remained a recurring concern in India’s financial sector. Addressing the issue in strong words, Finance Minister Nirmala Sitharaman said banks cannot treat mis-selling as routine business and called it an offence.
“Mis-sell is an offence, if you ask me,” she said at a press conference that was also attended by RBI Governor Sanjay Malhotra. She added, “The message should go to the banks that you cannot afford to mis-sell.”
Her remarks come as the Reserve Bank of India is preparing to issue guidance aimed at curbing mis-selling practices by banks.
A YEAR OF
Continue Reading on India Today
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.