Bancassurance dealing with banking and insurance are governed by two very separate yet parallelly operating domains called Reserve Bank of India and Insurance Regulatory and Development Authority of India. However, double regulation does not imply double supervision and causes lapses in market practices affecting the interests of the consumer. This paper takes a detailed analysis into the various circumstances of such instances to figure out where legislation has the blind spot and make suggestions to remedy the fact. That include a coordinated intersection of Prudential Supervision as well as Market Conduct Accountability.