CAIIB-Retail Bank-MOD-C-Service Standards for Retail Banking Unit - 14 : Service Standards for Retail Banking Banking Codes and Standards Board of India (BCSBI) prescribed the various compliance requirements for the promises made by the banks for offering services to retail banking customers and they have codified the promises into a document. This is a voluntary Code, which sets minimum standards of banking practices for banks to follow when they are dealing with individual customers. The Code has been developed to: (a) promote good and fair banking practices by setting minimum standards while dealing with you. (b) increase transparency so that you can have a better understanding of what you can reasonably expect of the services. (c) encourage market forces, through competition, to achieve higher operating standards. (d) promote a fair and cordial relationship between you and your bank. (e) foster confidence in the banking system. BCSBI has spelt out various commitments regarding the various services which are detailed below for information.
1. Objectives of the Code 2. Application of Code 3. Key Commitments 4. Our key commitments to you 5. Information - Transparency 6. General 7. Do Not Call Service 8. Interest rates 9. Tariff schedule 10. Terms and conditions 11. Advertising, Marketing and Sales 12. Privacy and Confidentiality 13. Credit Reference Agencies 14. Collection of dues 15. Security Repossession Policy 16. Complaints, Grievances and Feedback 17. Internal Procedures 16. Banking Ombudsman Service 17. Products and Services 18. Deposit Accounts 19. Clearing Cycle/Collection Services 20. Cash transactions 21. Stop Payment Facility 22. Cheques/Debit instructions issued by you 23. Branch closure/shifting 24. Settlement of claims in respect of Deceased Account Holders 25. Safe Deposit Lockers 26. Foreign Exchange Services 27. Remittances within India 28. Lending 29. Guarantee 30. General Information 31. Credit Card 32. Insurance 33. Mobile Banking 34. Credit Counselling Facility 35. Getting Records 36. Protecting Your Accounts 37. Secure and Reliable Banking and Payment Systems 38. Keeping Us Up To Date 39. Checking your account 40. Taking care 41. Internet banking 42. Cancelling payments 43. Liability for losses.