Agency overview | |
---|---|
Formed | 18 February 2006 |
Headquarters | Mumbai, Maharashtra |
Agency executive |
|
Website |
www |
The Banking Codes and Standards Board of India (BCSBI) [1] is an independent banking industry watchdog that protects consumers of banking services in India. The board oversee compliance with the "Code of Bank's Commitment to Customers". It is not a compensation mechanism and looks into an individual complaint only to the extent it points to any systemic compliance failure. It is an independent and autonomous body, registered as a separate society under the Societies Registration Act, 1860 on 18 February 2006. [2] The Reserve Bank of India extended financial support to the Board, meeting its expenses for the first five years. [3] However, on 28 September 2021, the member banks passed resolutions approving BCBSI dissolution. Accordingly it has stopped its operations and is under dissolution. [4]
S S Tarapore (Former deputy general of RBI ) [7] came up with an idea to form a committee for the benefit of customer so that they can get better financial services. [8]
The board is governed by a six-member governing Council including one chairman.
As of February 2013, 69 scheduled commercial banks, 11 Urban Co-operative Banks and 54 regional rural banks are members of the board.
{{
cite book}}
: CS1 maint: numeric names: authors list (
link)
Agency overview | |
---|---|
Formed | 18 February 2006 |
Headquarters | Mumbai, Maharashtra |
Agency executive |
|
Website |
www |
The Banking Codes and Standards Board of India (BCSBI) [1] is an independent banking industry watchdog that protects consumers of banking services in India. The board oversee compliance with the "Code of Bank's Commitment to Customers". It is not a compensation mechanism and looks into an individual complaint only to the extent it points to any systemic compliance failure. It is an independent and autonomous body, registered as a separate society under the Societies Registration Act, 1860 on 18 February 2006. [2] The Reserve Bank of India extended financial support to the Board, meeting its expenses for the first five years. [3] However, on 28 September 2021, the member banks passed resolutions approving BCBSI dissolution. Accordingly it has stopped its operations and is under dissolution. [4]
S S Tarapore (Former deputy general of RBI ) [7] came up with an idea to form a committee for the benefit of customer so that they can get better financial services. [8]
The board is governed by a six-member governing Council including one chairman.
As of February 2013, 69 scheduled commercial banks, 11 Urban Co-operative Banks and 54 regional rural banks are members of the board.
{{
cite book}}
: CS1 maint: numeric names: authors list (
link)