Banking Codes and Standards Board of India
{{Short description|Banking watchdog in India}}
{{Use dmy dates|date=May 2018}}
{{Use Indian English|date=May 2018}}
{{Infobox government agency
|agency_name = Banking Codes and Standards Board of India
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|logo = Banking Codes and Standards Board of India.svg
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|seal = Short form of Banking Codes and Standards Board of India.gif
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|formed = 18 February 2006
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|dissolved =
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|headquarters = Mumbai, Maharashtra
|employees =
|chief1_name = A C Mahajan
|chief1_position = Chairman
|website = {{url|http://www.bcsbi.org.in}}
|footnotes =
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The Banking Codes and Standards Board of India (BCSBI) {{Cite book|title = BCSBI The Banking Code Rules|last = The Banking Code Rules|year = 2012|url = http://www.bu.edu/bucflp/files/2012/01/Banking-Code-Rules.pdf|access-date = 1 August 2015|archive-date = 4 March 2016|archive-url = https://web.archive.org/web/20160304070053/http://www.bu.edu/bucflp/files/2012/01/Banking-Code-Rules.pdf|url-status = dead}} is an independent banking industry watchdog that protects consumers of banking services in India. The board oversee compliance with the "Code of Bank's Commitment to Customers". It is not a compensation mechanism and looks into an individual complaint only to the extent it points to any systemic compliance failure. It is an independent and autonomous body, registered as a separate society under the Societies Registration Act, 1860 on 18 February 2006.{{cite web|title=Annual Report 2006 - 2007 |url=http://www.bcsbi.org.in/Pdf/ar200607.pdf |access-date=27 February 2013 |url-status=dead |archive-url=https://web.archive.org/web/20121011101823/http://www.bcsbi.org.in/Pdf/ar200607.pdf |archive-date=11 October 2012 }} The Reserve Bank of India extended financial support to the Board, meeting its expenses for the first five years.{{cite web|title=Banking Codes and Standards Board of India |url=http://www.bcsbi.org.in/index.asp |access-date=27 February 2013 |url-status=dead |archive-url=https://web.archive.org/web/20130123200755/http://www.bcsbi.org.in/index.asp |archive-date=23 January 2013 }} However, on 28 September 2021, the member banks passed resolutions approving BCBSI dissolution. Accordingly it has stopped its operations and is under dissolution.{{Cite web |title=Banking Codes and Standards Board of India |url=http://www.bcsbi.org.in/ |archive-url=https://web.archive.org/web/20220201121611/http://www.bcsbi.org.in/ |archive-date=1 February 2022 |access-date=1 April 2022 |website=Banking Codes and Standards Board of India}}
Main aims
- To plan, evolve, prepare, develop, promote and publish voluntary, comprehensive Code and Standards for banks, to provide fair treatment to their customers.
- To function as an independent and autonomous watchdog to monitor and ensure that the Codes and Standards are adhered to.
- To conduct and undertake research of Codes and Standards currently in use around the world.
- To enter into covenants with banks on observance of codes and standards and to train employees of such banks about the Codes.
- To help people affected by natural calamities.
{{Cite book|title = Survey of compliance with provision of codes|last = Survey on 2007|url = http://www.bcsbi.org.in/Articles/Whats%20New/BranchVisitsFindings.pdf|access-date = 1 August 2015}}{{Cite journal|url=https://www.rbs.in/pdf/BCSBINewsLetter-Dec2012-Feb2013.pdf |journal=Customer Matters |title=BCSBI News |date=2012 |access-date=1 August 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150318211951/http://rbs.in/pdf/BCSBINewsLetter-Dec2012-Feb2013.pdf |archive-date=18 March 2015 }}
History
S S Tarapore (Former deputy general of RBI ) {{Cite book|title = Audit of Public Services|last = Audit Details|url = http://www.mehta-mehtaadvisory.com/wp-content/uploads/2010/11/banking-codes-and-standards.pdf|access-date = 1 August 2015|archive-url = https://web.archive.org/web/20151211144952/http://www.mehta-mehtaadvisory.com/wp-content/uploads/2010/11/banking-codes-and-standards.pdf|archive-date = 11 December 2015|url-status = dead}} came up with an idea to form a committee for the benefit of customer so that they can get better financial services.{{Cite book|title = History of BCSBI|last = BCSBI|url = http://www.canarabank.com/upload/english/Content/20130430172640814.pdf|access-date = 1 August 2015}}
Governing Council
The board is governed by a six-member governing Council including one chairman.
Members
As of February 2013, 69 scheduled commercial banks, 11 Urban Co-operative Banks and 54 regional rural banks are members of the board.
See also
References
{{Reflist}}
External links
- {{Official website|https://web.archive.org/web/20130123200755/http://www.bcsbi.org.in/index.asp}}
- [http://www.bcsbi.org.in/pdf/CodeOfBanks_Aug09.pdf Code of Bank’s Commitment to Customers in English] {{Webarchive|url=https://web.archive.org/web/20141005071514/http://www.bcsbi.org.in/pdf/CodeOfBanks_Aug09.pdf |date=5 October 2014 }}
- [http://www.bcsbi.org.in/Pdf/BankingCodeCustomers_HindiOct09.pdf Code of Bank’s Commitment to Customers in Hindi] {{Webarchive|url=https://web.archive.org/web/20140422041754/http://www.bcsbi.org.in/Pdf/BankingCodeCustomers_HindiOct09.pdf |date=22 April 2014 }}
- [http://www.bcsbi.org.in/Pdf/CodeOfBanksCommitmentMicroSmallEnterprises_Hindi.pdf Code of Bank's Commitment to Micro and Small Enterprises in Hindi] {{Webarchive|url=https://web.archive.org/web/20150206030909/http://bcsbi.org.in/Pdf/CodeOfBanksCommitmentMicroSmallEnterprises_Hindi.pdf |date=6 February 2015 }}
{{Financial services in India}}{{Banking in India}}
{{authority control}}
Category:Organisations based in Mumbai
Category:Government agencies of India
Category:2006 establishments in Maharashtra