With the help of Banking codes and Standard Board of India (BCSBI), an indication will soon be given to customers regarding where their bank stands when it comes to customer service. On the basis of their compliance levels towards the commitment to their customers
An initiative by Reserve Bank of India (RBI), BCSBI, plans to rank banks dependent upon their adherence to saving money codes - a rundown of least responsibility to clients. Regarding the RBI order, on of opening an account, each client will receive an appropriate a set of account codes from the bank.
These codes, which are recommended by BCSCI, give the client a thought of the base level of administration he can anticipate from the bank. The aim of the BCSBI is to provide transparency to customers regarding the working of the banks. One of the possibilities is that the branches of banks may have to put boards in order to state that 'small accounts' could be opened by customers. These accounts may not have any minimum balance or requirement of address proof and may also be entitled for a free debit card.