I am restricting myself to the financial services sector..and I would like to see the following:

  • a ban on my banker seeing my bank account and selling products to me
  • a compulsion that a banker has to sell an index fund, and a term insurance BEFORE pitching anything else
  • the banker telling the client UPFRONT how much commission is hidden in the product BEFORE THE client signs up
  • bankers not being allowed to sell anything to a senior citizen except in the presence of that person’s fiduciary
  • a senior citizen protection scheme by which they are able to return harmful products
  • a regulator with brains (too much to ask is it?)
  • an ombudsman across all financial products – without any limits on who can approach him/her
  • public display of IFA’s details available for a fee with a password protection framework
  • an act to protect the Armed forces from the banksters
  • IFA fiduciary relationship – clear in their designation, and that designation be monitored
  • RIA relationships with mutual fund houses being made public
  • nomenclature clarity
  • term insurance not being allowed to be corrupted with addons like riders
  • auto premium debit for medical insurance too
  • ….this is unending  i guess…

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  1. Kya Subra sir – industry will ask you if they should survive or not…. This is like Indira Gandhi asking if Congress should fight elections or not post being given the suggestion about demonetization

  2. In your dreams…

    In this universe, there are N number of objects,
    each one having their own frequencies…

    Just Beautiful; Is it not?

  3. I agree fully with you Sir especially regarding mis-selling by agents to Senior Citizens. My father was made to buy two ULIPS plans with the agent claiming it to be the best showing some fancy projections using their so called benefit illustrator. He also did not mention upfront the high mortality charges inherent in ULIPs if invested in the name of a senior citizen.

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