Bancassurance useful, curb mis-selling: IRDAI Chief

India's insurance regulator, IRDAI, urged banks to address concerns regarding mis-selling of insurance products through their channels. This follows Finance Minister Nirmala Sitharaman's criticism of banks prioritizing insurance sales over core banking activities. While acknowledging the role of bancassurance in expanding insurance coverage, both Sitharaman and IRDAI chief Debasish Panda emphasized the need for ethical practices and customer-centric approaches.