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‘Client consent must for insurance'
The Morning Standard
|March 27, 2024
PSBs say branches have target, but they can't deduct premium without customers' consent
AMID reports that the public sector banks (PSBS) have enrolled customers for the small insurance schemes launched by Prime Minister Narendra Modi without their permission, bankers say they are not allowed to do so without their consent.
Though the bankers concurred that every banking branch has a monthly target to accomplish, they can't deduct premium without customers' authorisation. These small insurance schemes include Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana and they aim to provide social security to the people below certain income threshold after the age of 60.
Cette histoire est tirée de l'édition March 27, 2024 de The Morning Standard.
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