Introduction

      This is a voluntary Code, which sets minimum standards of banking practices for banks to follow when they are dealing with individual customers. It provides protection to you and explains how banks are expected to deal with you for your day-to-day operations.

In the Code, 'you' denotes the customer and 'we', the bank the customer deals with.

 

1.1        Objectives of the Code

The Code has been developed to

a.      promote good and fair banking practices by setting minimum standards in dealing with you;

b.      increase transparency so that you can have a better understanding of what you can reasonably expect of the services;

c.      encourage market forces, through competition, to achieve higher operating standards;

d.      promote a fair and cordial relationship between you and your bank;

e.      foster confidence in the banking system.

The standards of the Code are covered by the key commitments in Section 2.

1.2         Application of Code

 

Unless it says otherwise, all parts of this Code apply to all the products and services listed below, whether they are provided by branches or subsidiaries across the counter, over the phone, by post, through interactive electronic devices, on the internet or by any other method. However, all products discussed here may or may not be offered by all banks.

a.      Current accounts, savings account, term deposits, recurring deposit, PPF accounts and all other deposit accounts.

b.      Payment services such as pension, payment orders, remittances by way of Demand Drafts and wire transfers.

c.      Banking services related to Government transactions.

d.      Demat accounts, equity, government bonds.

e.      Indian currency notes exchange facility.

f.        Collection of cheques, safe custody services, safe deposit locker facility

g.      Loans and overdrafts.

h.      Foreign exchange services including money changing.

i.        Third party insurance and investment products sold through our branches.

j.         Card products including credit cards, debits cards, ATM cards and services (including credit cards offered by our subsidiaries/companies promoted by us).

 

The meanings of  (key )words in bold black have been given in the Glossary.

 

 

2          Key Commitments

2.1        Our key commitments to you

2.1.1       To Act Fairly And Reasonably In All Our Dealings With You By:

2. Meeting the commitments and standards in this Code, for the products and services we offer, and in the procedures and practices our staff follow.
3. Making sure our products and services meet relevant laws and regulations in letter and spirit.
4. Ensuring that our dealings with you rest on ethical principles of integrity and transparency.

 

 

2.1.2       To Help You To Understand How Our Financial Products And Services Work By:

2. Ensuring that our advertising and promotional literature is clear and not misleading
3. Ensuring that you are given clear information about our products and services, the terms and conditions and the interest rates/service charges, which apply to them.
4. Giving you information on what are the benefits to you, how you can avail of the benefits, what are their financial implications and whom you can contact for addressing your queries and how.

 

2.1.3       To Help You Use Your Account Or Service By:

2. Keeping you informed about changes in the interest rates, charges or terms and conditions.

 

2.1.4       To Deal Quickly And Sympathetically With Things That Go Wrong By:

2. Handling your complaints promptly.
3. Telling you how to take your complaint forward if you are still not satisfied (see para No. 7).
4. Providing suitable alternative avenues to alleviate problems arising out of technological failures.

 

2.1.5       To Treat All Your Personal Information as Private and Confidential

 We will treat all your personal information as private and confidential subject to matters mentioned in  para number 5 below. 

 

2.1.6       To Publicise  the Code We will

a.      provide you( existing customer) with a copy of the Code

b.      provide you ( new customer) with a copy of the Code when you open your account;

c.      make this Code available on request either over the counter or by electronic communication or  mail;

d.      make available  this Code at every branch and on our website; and

e.      ensure that our staff are trained to provide relevant information about the Code  and to put  the Code into practice.

 

2.1.7       To adopt and practice a Non - Discrimination Policy

We will not discriminate on the basis of age, race, gender, marital status, religion or disability.

 

3          Information

You can get information on interest rates, common fees and charges through any one of the following:

 

a.      Looking at the notices in our branches ;

b.      Phoning our branches or help-lines;

c.      Looking on our website;

d.      Asking our designated staff/help desk ;or

e.      Referring to the service guide/Tariff Schedule.

 

3.1        Before You Become a Customer we will:

2.  give you information on any type of products and services which we offer and that may suit your needs;
3.  tell you if we offer products and services in more than one way [for example, through ATMs, on the Internet, over the phone, in branches and so on] and tell you how to find out more about them;
4.  tell you what information we need from you to prove your identity and address, for us to comply with legal, regulatory and internal policy requirements.

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3.2          When You Become a Customer  we  will:

a.      give you more information on the key features of the  product, including applicable interest rates/ fees and charges;

b.      give you extra information on your rights and responsibilities especially regarding availing of nomination facility offered on all deposit accounts, articles in safe custody and safe deposit vaults; 

c.      automatically register your name under ‘Do Not Call ‘ Service. We will not   inform/extend to you through telephone calls/SMSs/ emails any new        product /service unless and until you inform us in writing that you consent      to avail of this information/ service.     

3.3         Interest Rates

We will give you information on

a.       the interest rates which apply to your accounts, both deposit and loan.

b.       when we will pay interest on your deposits, or charge interest on your loan accounts.

c.       how we apply interest to your account and method of calculation of interest.

 

Changes in interest rates

We will inform you when we change interest rates on our products.