The Reserve Bank of India (RBI) is seriously considering about a model Code of Conduct for banks, to guarantee customer rights.
U S Paliwal, executive director at RBI said at a two-day seminar on Consumer product safety, these rights, including being treated with courtesy, must be guaranteed.
He also said, the banks, alongside the Banking Codes and Standards Board of India and Indian Banks Association, would be setting up a model code on these specific rights and beyond the rights, the boards of these banks would be passing that.
We will be observing that these rights are generally regulated in the manner and the spirit in which they must be conveyed, he said.
