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SERVICE STANDARD FOR RETAIL BANKING
What is the primary objective of service standards in retail banking?
Service standards aim to ensure consistent, timely, and quality delivery of banking services to customers, thereby enhancing customer satisfaction and trust in the bank.
What is the standard time prescribed for credit of NEFT transactions to beneficiary accounts?
Credit must happen within two hours of settlement.
Which RBI initiative mandates banks to display service standards prominently at branches?
The RBI's Customer Service Guidelines require banks to display the 'Citizen's Charter' or 'Service Charter' at all branch premises, outlining the services offered and the standards committed.
What is the prescribed TAT for banks to resolve a failed ATM transaction complaint?
Banks must resolve within five working days of complaint.
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