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What is Banking Codes and Standards Board of India (BCSBI)


The expectations of customers of banks are generally confined to prompt delivery of services relating to their deposit accounts, assistance in handling the ancillary services, transparency in dealings and a helpful attitude to solve their difficulties. Towards this end, as a part of the regulatory process, RBI has been taking various steps over the years to ensure that services rendered by the banks to customers and common persons meet their genuine requirements.
Therefore RBI in 2003 constituted a committee on Procedures and Performance audit in public services (CPPAPS). Under Chairmanship of Shri SS Tarapore former deputy governor of the Reserve Bank of India.
The committee recommended that a Banking Codes and Standards Board of India (BCSBI) should be set up in India as an organization to evaluate and oversee observance of a code of conduct by banks so that there is healthy and virtuous pressure on the banks to provide good customer service on par with best practices. Reserve bank in his Monetary Policy? Statement on September 2005 announced the RBI intention to set up a banking code and standards board of India as an independent organization. This board is expected to function as a watchdog of the banking industry.
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  1. Sadhana30 July 2020 at 06:23

    The great thing about this post is quality information. I always like to read amazingly useful and quality content. Your article is amazing, thank you for sharing this article.
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