I completely agree with T N Ninan’s piece “Personal accountability” (Weekend Rumination, July 7). Banks are expected to concentrate on lending and borrowing, rather than focusing on third-party products. For the sake of meeting revenue targets, customers are being mis-sold and duped these days. The Securities and Exchange Board of India and the Reserve Bank of India (RBI) do nothing to prevent these unethical sales. RBI needs to seriously regulate banks’ non-banking activities like insurance, broking and mutual funds.
- Balaganesh, Chennai (BS)
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