Is BSBCI same as the banking ombudsman?


#1

Is BSBCI same as the banking ombudsman?


#2

BCSBI or Banking Codes and Standards Board of India is unique and different from the banking ombudsman which helps you resolve you banking problems. BCSBI only issues guidelines for the banks for retail and corporate banking customers and reviews the banks from time to time on compliance. On the other hand you can approach a banking ombudsman to help resolve any personal complaint or grievance that you may have against any bank or its service.


#3

Hi Reba,

Banking Codes and Standards Board of India (BCSBI) is different from the Banking Ombudsman. You can approach the Banking Ombudsman to resolve banking related grievances, but BCSBI decides the guidelines and ensures adherence to high standards when it comes to customer satisfaction.

Right from the way the staff interacts with you to having protocols of service and guidelines, each interaction between the bank and the customer is governed by the BCSBI.

The BCSBI was set up by the Reserve Bank of India (RBI) in 2006. It is registered as a Society and is a Self-Regulatory Organization. Its primary role is to lay down guidelines for all affiliated banks to help the common man avail of quality services.

The services you get in a bank, right from the display of information in the branch to the way the customer executive interacts with you or how the bank follows a customer grievances program, are all governed by the BCSBI.

BCSBI has formulated these benchmarks so that all Indian banks—public sector or private—offer complete transparency and information to their customers.

Currently, the BCSBI has 136 affiliated banks as full-fledged members bound by their code for customer service. These include 71 Scheduled Commercial Banks (SCBs), 47 Regional Rural Banks (RRBs), and 18 Urban Cooperative Banks (UCBs).

The BCSBI is unique and different from the Banking Ombudsman, which helps you resolve banking services related problems. The BCSBI only issues guidelines for the banks for retail and corporate banking customers, and reviews the banks from time to time on compliance. The Ombudsman, on the other hand, is someone you approach when you need resolution of grievances with a bank.

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Cheers,
BB Expert