BCSBI calls for awareness among customers about banking codes

Customers need to be aware about banking codes and their rights so as to get the best services, Banking Codes and Standards Board of India (BCSBI) CEO Anand Aras has said.
In this context, the BCSBI, in association with consultant firm TransUnion CIBIL, organised an awareness meet for the customers here yesterday.
While interacting with the participants during the meet, it was observed that most complaints are mainly due to lack of awareness about the provisions of (banking) codes among the customers as well as the banking-staff.
"As a result, 34 per cent of the complaints addressed to the Banking Ombudsman 2015-16 are related to non-adherence of fair practice and BCSBI codes," Aras said.

"The purpose of these awareness meets is to ensure that no customer is in any disadvantageous position while receiving any service from the bank. Understanding the codes and their rights empowers customers to get the best from their banks," he said.
The aim of the meet was to empower customers with their banking rights and the commitment of the banks towards their customers, he said.
"It (meeting) also stressed onbanks' adherence to the codes to enhance banking experience, the Banking Ombudsman Scheme, grievance redressal and CIBIL scoring mechanism," a statement issued by the organisers said.