FM Nirmala Sitharaman flags mis-selling of insurance, calls for collateral free loans to MSMEs

November 18, 2024

Indian Finance Minister Nirmala Sitharaman raised concerns about insurance mis-selling, emphasizing its contribution to higher borrowing costs for customers. She urged banks to focus on affordable lending rates to support industrial growth and advocated for digital financial inclusion. Sitharaman highlighted India’s economic resilience and the need for transparency in banking practices.

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