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Provide adequate transaction details in passbooks: RBI to banks

RBI also advised banks to avoid inscrutable entries in passbooks/statements of account

Press Trust of India  |  Mumbai 

Provide adequate transaction details in passbooks: RBI to banks

The (RBI) on Thursday asked to provide "adequate details" of transactions in the and so that customers can cross-check them.

Earlier, the had advised them to avoid inscrutable entries in passbooks/statements of account and ensure that brief, intelligible particulars are invariably entered with a view to avoiding inconvenience to depositors.


However, the said it has come to its notice that many lenders still do not provide adequate details.

"In the interest of better customer service, it has been decided that shall at a minimum provide the relevant details in respect of entries in the accounts," the central bank said while prescribing a list of details to be provided.

The details to be provided by in passbooks include name of the payee, mode of transaction, nature of the charges (like fee/ commission/ fine/ penalty), and loan account number.

First Published: Thu, June 22 2017. 21:16 IST
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