A 90-year-old man in Nagpur, Maharashtra, was reportedly mis-sold a life insurance policy with an annual premium of ₹2 lakh by a Canara Bank branch manager.
The policy controversially has a maturity year of 2124, raising questions about its suitability for a senior citizen. The man’s account was debited ₹2 lakh in two consecutive years.
The case has sparked social media concern over ethical bancassurance practices. Canara Bank said it is reviewing the matter through an internal team but has not made a public statement on the mis-selling claim.