Govt sensitising PSBs on misselling insurance products

New Delhi: Financial Services Secretary Vivek Joshi has said that public-sector banks (PSBs) have been asked to check mis-selling of insurance products and ensure protection of account holders’ interest.

Banks have been sensitised on the matter, as the Department of Financial Services (DFS) regularly gets complaints that fraudulent and unethical practices are being adopted by banks and life insurance companies for procuring policies from the bank customers, he told PTI in an interview.