RBI moves to curb banks selling insurance, mutual funds
Business
The Reserve Bank of India (RBI) just rolled out new rules to stop banks from aggressively selling things like insurance and mutual funds.
Many people have felt pressured into buying these products without really knowing what they're signing up for.
RBI wants banks to be more upfront, making sure customers actually understand what they're getting.
Apps and sales targets pressure customers
A big part of the problem is digital banking apps: they often nudge users into quick decisions with slick interfaces focused on sales, not clarity.
Plus, bank staff face sales targets, so they sometimes put their incentives ahead of your needs.
RBI's new guidelines aim to shift the focus back to trust and transparency in your financial choices.