Repercussions of mis-selling: Should you trust banks with your investments?

The only way to avoid falling prey to banks' mis-selling is to get your investment advice from one trusted source and purchase products from another

For years, banks have been guilty of mis-selling. According to experts, even the well-heeled have been caught unawares by their smooth-talking relationship managers.
 
The special operations group of the Rajasthan Police recently filed a First Information Report (FIR) against a few executives of ICICI Prudential Life Insurance and ICICI Bank. Employees of these organisations are alleged to have unfairly convinced senior citizens, farmers and labourers, who wanted a simple fixed deposit, into buying insurance products. The customers, whose entire lives’ savings were used to pay a single premium, were shocked when the insurer’s employees called up seeking another premium