RBI wants banks to hive off advice. Long shot, won’t work

Well well when banks missell, there is no problem. They openly blackmail the customers saying if you want loan or facility or want a good relation with bank, they have to buy a life insurance policy which without explaining anything they just have to buy. Please differentiate between banks and insurance agents because agents don't and can't do that. Secondly as per the regulations we have to attach need analysis report along with the reason why we suggested a particular product to a customer which banks don't have to. Also please get your facts right, the brokers are not at all are worried about the customers and they are not by any means fiduciary. They missell even more than banks. Kindly go and check with all the companies and with irda. The records will prove this. The only community who is representing the customer or who works for the customer is agent community who by the way as per regulator and financial planners and insurance companies are a devil. The real reason for this is because agents fights with the company for and on behalf of the customer and that pinches the company and regulator. We are the only people who hand deliver policies to customers and explain the benefits of the plan before and while delivering the policy. Does any bank or broker do that? Do they help customers to change address, change nominee, change bonus options, claim settlement and explain the policy terms and conditions to customers? They are just sellers and do not represent any insurance company or customers where as we insurance agents represent both but in the end stand for and with the customers. But all the regulations target us and us only. That means companies and regulator doesn't want people who fight against them for customers.