Canara Bank Under Fire: 90-Year-Old Sold Policy Maturing in 2126

• A 90-year-old man in Nagpur was allegedly mis-sold a life insurance policy by Canara Bank employees.
• The policy had an annual premium of 2 lakh rupees and was set to mature in 2126, raising concerns about its suitability for his age.
• The incident came to light when the elderly man received an alert for the next premium, revealing 4 lakh rupees had already been deducted over two years.
• The family alleges misuse of trust, claiming the bank manager pressured the elderly man, who had limited financial understanding, into buying the policy.
• Social media outrage highlights the policy's impractical maturity date and calls for regulatory action from RBI and IRDAI.