This is a Code of Customer Rights, which sets minimum standards of banking practices member banks have to follow while they deal with individual customers. It provides protection to customers and explains how banks are expected to deal with customers in their day-to-day operations.
The code has been developed to: promote good and fair banking practices; increase transparency; encourage market forces, through competition, to achieve higher operating standards; and foster confidence in the banking system.
The code covers the following topics:
1. Information – Transparency
2. Advertising, Marketing and Sales
3. Privacy and Confidentiality
4. Collection of Dues
5. Complaints, Grievances and Feedback
6. Products and Services (Loans, Deposit Accounts, Etc.)
7. Financial Inclusion
8. Protecting Your Accounts