Conned Indian Financial Consumer

.....Who better to endorse this than Dr KC Chakrabarty, the former deputy governor, who never failed to say that it took years to implement even obvious decisions in India? Personally, I see the 6th and 7th May directives as a signal that Dr Rajan is beginning to take a hard look at how customers are treated. RBI is focused on financial inclusion, but without a clear consumer protection framework which spells out accountability and punishment. As a result, every effort to bring in new customers will only lead to more disenchantment.

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