17 A Customer Service Guidelines
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Principles and Practices of Banking — JAIIB.
One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
What is the primary objective of the Banking Codes and Standards Board of India (BCSBI)?
BCSBI is an independent watchdog set up to ensure that banks adhere to fair banking practices and deliver what they promise to individual customers through voluntary codes.
What is the full form of BCSBI?
Banking Codes and Standards Board of India
What does the Code of Bank's Commitment to Customers (CBCC) cover?
CBCC is a voluntary code that sets minimum standards of banking practices for banks to follow while dealing with individual customers, covering areas like transparency, fair treatment, and grievance redressal.
What is the maximum monetary ceiling for complaints under the Banking Ombudsman Scheme 2021?
Rupees 50 lakh for most banking complaints
Which RBI committee recommended the establishment of the Banking Ombudsman Scheme?
The Goiporia Committee (1990) and later the Tarapore Committee recommendations led to the establishment of the Banking Ombudsman Scheme to resolve customer complaints against banks.
What is the time period within which a bank must respond to a Banking Ombudsman notice?
Within 15 days of receiving notice from Ombudsman
Under the Banking Ombudsman Scheme 2006, what is the maximum compensation a customer can claim for non-adherence to fair practices?
Under the Banking Ombudsman Scheme 2006 (amended), a customer can claim compensation up to Rs. 20 lakh for deficiency in banking services, plus an additional Rs. 1 lakh for mental agony and harassment.
Under the Integrated Ombudsman Scheme 2021, who bears the cost of the scheme?
Reserve Bank of India bears the cost
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