if you thought you are among the few financially illinformed who is being sold insurance policies or mutual funds with dubious sales pitches you can take heart from the fact that even some of the top guns at the finance ministry have also fallen victim to such practices at least before they walked into the north block rajiv takru secretary department of financial services told an audience in a recent seminar that an lic agent had sold him a policy in 1992 with a promise that he would receive 1 lakh after 15 years of 3000 annual premium payment after 15 years the agent informed him that he would get the money only when he turns 80 not as promised i thought i was reasonably literate i hope to survive for 24 years to get the benefit said takru after all the topic of discussion was misleading sales of insurance policies govt pushes self into a corner thanks to its rulemaking bureaucracy and its rule making have ruined many a things in this country one such rule is going to plague the appointment of sbi chairman when pratip chaudhuri retires next month with a silly rule the government has pushed itself into a corner out of the blue a rule was brought in to say that no deputy md of sbi will be eligible for the chairmans post when the previous four chairmen were dmds why this rule hardly any explanation is coming forth from the government pushing themselves in a corner with unwarranted rules has become a routine for this administration stifled psu banks and the government being a head of a psu bank is an unenviable position now its owner the government does not allow it to raise lending rates despite its own cost of funds going up because of governments faults the bank will not get capital to make more loans because the government says banks estimates of capital needs are inflated but the finance minister at every meeting with bank chairmen directs them to lend more there is also speculation that the government may even ask some banks to stop lending and focus on recovery so much for the government pushing economic growth