Extreme Pressure for Cross Selling- SBI Officers Association Circular

EXTREME PRESSURE FOR CROSS SELLING RESULTING IN MIS SELLING

We have time and again taken up the issue of the overall degradation of our banking environment, due to the practices being undertaken in the name of cross-selling business development. Cross-selling which was once introduced by the bank with the intent to augment its conventional business streams, i.e. accepting deposits and lending them. The chief idea behind the introduction of cross-selling of insurance and mutual funds products might have been to help the banks turn into financial supermarkets and enable them to cater to the investment needs of the intending customers. But looking it at the present scenario, it can be easily concluded that the mis-selling being carried out in the name of cross-selling.

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