BCSBI organises customer awareness meet at Ludhiana; Enlightening customers about their banking rights

Ludhiana, August 22, 2016: Banking Codes and Standards Board of India (BCSBI) is an organization that prescribes standards for banks to dispense retail banking services, organized a customer awareness meet at Ludhiana to empower customers with their banking rights and codes for better banking experience.
The meet was hosted at the Gurunanak Bhavan on August 22, 2016 in association with Credit Information Bureau (India) Limited (CIBIL).
The meet provided a platform for BCSBI, CIBIL and banks to interact with about 300 Retail and Micro & Small Enterprise (MSE) customers. The prime objective of the meet was - protecting consumer rights and making them understand the various codes that banks need to follow to enhance customer delight. The meet was addressed by Shri. A C Mahajan, Chairman, BCSBI; Shri J.L. Negi, Banking Ombudsman for Chandigarh; and a representative of CIBIL. Topics of discussion varied from banks’ adherence to the Codes to enhance banking experience, the Banking Ombudsman Scheme, grievance redressal and CIBIL scoring mechanism.
Shri A. C .Mahajan, Chairman, BCSBI in his key note address highlighted the provisions of the Codes evolved by BCSBI. “The purpose of these Customer 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 them to get the best from their banks and the motive of this meet is to ensure this among banking customers across the country.”
Answering customers’ queries with regard to issues that customers deal with on a day to day basis, Shri A.C. Mahajan also elaborated the provisions of codes that would help them tackle their issues. He added that while interacting with the participants it was found that most of the banking complaints emerge due to lack of awareness about the provisions of Codes among customers as well as banking staff. Over 29% of the complaints addressed to the Banking Ombudsmen in 2015-16 were related to non-adherence of BCSBI codes.
During the interactive session the customers also raised issues faced by them with regard to various banking services.