BCSBI is an independent and autonomous watch dog to monitor and ensure that the Banking Codes and

Standards adopted by the banks are adhered to in true spirit while delivering their services

FAQ

1. What is BCSBI?

The Banking Codes and Standards Board of India is a society registered under the Societies Registration
Act, 1860 and functions as an autonomous body, to monitor and assess the compliance with codes and
minimum standards of service to individual customers to which the banks agree to.

2. How can one contact the BCSBI?

Members of public can contact the BCSBI either on its website or at its postal address. The address of the
BCSBI is available on the website.

3. How does the BCSBI impact the common man?

The main function of the Board is to ensure adherence to the "Code of Bank's Commitment to Customers".
The Code is voluntary and sets minimum standards of banking practices for banks to follow when they are
dealing with individual customers in their day-to-day operations. The Code is not only meant to provide
protection to the individual customers but is also expected to generate awareness in the common man
about his rights as a consumer of banking services. Therefore the common man is the raison d'etre of the
BCSBI.

4. Who can become a member of the BCSBI?

Any Scheduled Commercial Banks which agrees to adhere to the Code and sign the covenant and pays a
non refundable registration fee of Rs 10000/- to the BCSBI may apply for membership.

5. How can anyone find out which bank is a member of the BCSBI?

This can be ascertained by a customer from his bank. The information will also be available on the website
of the BCSBI and IBA and also made available on request.

6. What is the Code of Bank's Commitment to Customers about?

The Code represents each member bank's commitment to minimum standards of service to individual
customers in relation to products and services offered by the bank, e.g.

Deposit accounts

Safe deposit lockers

Settlement of accounts of deceased account holders

Foreign exchange services

Remittances within India

Loans and advances and guarantees

 Credit cards

Internet banking

In these areas the Code, inter alia, dwells upon

Interest rates

Tariff schedule

Terms and conditions governing relationship between the bank and the customer

Compensation for loss, if any, to the customer due the acts of omission or commission on the part
of the bank

Privacy and confidentiality of the information relating to the customer

Norms governing advertisements, marketing and sales by banks

7. What should a customer do if his bank does not provide services as promised in the Code?

Every Member bank is required to:

Have a Help desk/Helpline at the branch

Have a Code Compliance officer at each Controlling office above the level of the branch.

Display at each branch name and contact number of Code Compliance Officer.

Display Name and address of the Banking Ombudsman.

This is to help the customer in case his bank does not provide services as promised in the Code.

The customer should first approach the help desk of the branch/bank. In case the issue is not resolved,
the Code Compliance Officer of the bank may be approached by the complainant. In case the issue is still
not resolved to the satisfaction of the customer he should take it up with the Banking Ombudsman .

8. What is the difference between the Banking Ombudsman and the Banking Codes and Standard Board
of India?

The Banking Ombudsman is a redressal mechanism to attend to disputes between banks and its customer
as also to attend to individual complaints relating to deficiencies in banking services. On the other hand,
the BCSBI (Board) is an industry watch dog to oversee compliance with the "Code of Bank's Commitment
to Customers". It is not a redressal mechanism and will look into an individual complaint only to the extent
it points to any systemic failure in compliance with Code.

9. While the Code of Banks Commitment to Customers lays down the banks obligations towards its
customers, should there not be a complementary obligation of the customer to his bank?

The Code is a voluntary initiative by a bank and is also a unilateral commitment by the bank to its individual
customers to deal with them in a transparent and fair manner in its day to day operations. It goes beyond
the conventional contractual framework wherein one partys performance is contingent upon the other
partys performance/commitments. The Code sets out the banks obligations to its individual customers
which, when seen from the viewpoint of the customer, form his Charter of Right vis--vis his bank

10. The Code of Banks Commitment to Customers is applicable only those banks which are members of
BCSBI. How will individual customers of non-member banks be protected?

Individual complaints from customers are required to be dealt with by the Banking Ombudsman or the
Customer Service Department of the Reserve Bank of India. BCSBI monitors only member banks
compliance with its commitments, by ensuring that the bank has the appropriate system and procedures
in place, at all its branches, for rendering customer service as committed to by the banks and that these
are effectively in operation. Therefore, in the case of a non-member bank, while a single individual may
get his complaint redressed through the Banking Ombudsman, the bank may or may not have the
appropriate systems and procedures in place for rendering fair and transparent customer service and the
customers of such a bank will have to be aware that they are dealing with a bank which is not committed
to fair practices and transparent dealings even in letter, let alone in spirit.

Source: BCSBI website