Many of us are not aware of a Board called Banking Codes and Standards Board of India (BCSBI), a joint initiative of Reserve Bank of India and Indian Banks' Association. BCSBI has been registered as a Society under the Societies Registration Act, 1860 as an independent and autonomous body. It is an independent banking industry watch dog to ensure that the consumer of banking services get what they are promised by the banks.
On 22.09.09 BCSBI has undertaken revision in banking codes on retail loan charges, pricing etc. which are to be implemented by its member banks.
A link to the press release issued by BCSBI on the revision is posted here, to create awareness among the staff members.
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