Banks and Insurance

Banks have to concentrate on Banking Business and the approach to make them brokers will land them in trouble in the long run. As it is Customers have lot of problems with bankers and their plight will be the worst once they take up brokering business. When I read this I am reminded of R.K Lakshman's cartoon when the Harshad Mehta Scam took place in 1992. "Bankers became brokers and Brokers became bankers". It should not happen that Insurers become bankers and bankers become insurance brokers.

Dr.T.V.Gopalakrishnan

(This comment is in response to the news item FM Wants banks to do Insurance Broking that appeared in Business Standard dated 23/12/13).