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SERVICE STANDARDS 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, enhancing satisfaction and building long-term relationships.
What is the prescribed TAT for collection of local cheques and credit of proceeds to the customer's account?
Local cheques must be credited within one working day.
Which RBI document lays down the framework for customer service standards in Indian banks?
The RBI's 'Charter of Customer Rights' and the Banking Ombudsman Scheme together form the regulatory framework for customer service standards in Indian banks.
What is the timeline prescribed by RBI for banks to return rejected loan applications to customers?
Banks must return rejected loan applications within a reasonable timeframe with reasons.
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