Banking codes and standards board of India (BSCSBI)
The Banking Codes and Standards Board of India has been registered as a separate society under the Societies
Registration Act, 1860. It functions as an independent and autonomous body , to monitor and assess the compliance
with codes and minimum standards of service to individual customers to which the banks agree to. The Code is
a voluntary initiative by a bank and is also a unilateral commitment by the bank to its individual customers to deal
with them in a transparent and fair manner in its day to day operations. RBI derives supervisory comfort in case
of banks which are members of the Board. Members of public can contact the BCSBI either on its website or at
its postal address.
Website address: www.bcsbi.org.in
The main function of the Board is to ensure adherence to the “Code of Bank’s Commitment to Customers”. The
Code is voluntary and sets minimum standards of banking practices for banks to follow when they are dealing
with individual customers in their day-to-day operations. The Code is not only meant to provide protection to the
individual customers but is also expected to generate awareness in the common man about his rights as a
consumer of banking services.
Banks are required to register themselves with BCSBI as members and have the Code adopted by their respective
boards. Thereafter, the banks will have to enter into a covenant with BCSBI, binding them to monitoring by BSCBI
as far as implementation of the code is concerned.
Any Scheduled Commercial Bank is eligible to become member of BCSBI. The Code represents each member
bank’s commitment to minimum standards of service to individual customers in relation to products and services
offered by the bank, e.g.
Safe deposit lockers
Settlement of accounts of deceased account holders
Foreign exchange services
Remittances within India
Loans and advances and guarantees
In these areas the Code, inter alia, dwells upon
Terms and conditions governing relationship between the bank and the customer
Compensation for loss, if any, to the customer due the acts of omission or commission on the part of the bank
Privacy and confidentiality of the information relating to the customer
Norms governing advertisements, marketing and sales by banks
Every Member bank is required to:
Have a Help desk/Helpline at the branch
Have a Code Compliance officer at each Controlling office above the level of the branch.
Display at each branch name and contact number of Code Compliance Officer.
Display Name and address of the Banking Ombudsman
In case a customer is not provided services as promised in the Code, he can first approach the help desk of the
branch/bank. In case the issue is not resolved, the Code Compliance Officer of the bank may be approached by
the complainant. In case the issue is still not resolved to the satisfaction of the customer he should take it up with
the Banking Ombudsman .