India, Feb. 19 -- The stink around the mis-selling insurance products of banks has reached the corridors of power finally: The central bank, on February 11, announced the Draft Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Amendment Directions, 2026. The aim is to prevent mis-selling of financial products by banks. This, the Reserve Bank of India (RBI) intends to do through suitability assessments, explicit consent requirements, prohibition of compulsory bundling and dark patterns, customer feedback mechanisms, and compensation frameworks. The expectation is that banks put customer interest over sales targets. This is a good half-step, but unless RBI defines suitability and the robustness of the customer-feedback...