For over two decades, bank mis-selling in India has thrived under weak enforcement, empty warnings and regulatory hesitation. From toxic ULIPs and forced insurance bundling to aggressive fee-income targets, countless savers have seen their wealth quietly eroded.

Now, after blistering observations by the Supreme Court in the ₹58,000 crore ‘digital arrest’ fraud cases, the Reserve Bank of India has issued draft Responsible Business Conduct Amendment Directions that could finally dismantle the mis-selling machine.

Are these new mandates a genuine turning point — with bans on incentives, dark patterns, forced bundling and 100% refunds for mis-selling? Or will this become another case of strong words, weak enforcement?

In this episode, Sucheta Dalal examines whether RBI’s 2026 draft rules mark real accountability for banks — or just more regulatory tinkering after years of damage.

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