The Banking Codes and Standards of India (BCSBI) has released a “Code of Bank’s Commitment to Customers” (Code) in July ____.
Show answer & explanation
Correct answer: B
Explanation
- The Banking Codes and Standards Board of India (BCSBI) was established to enhance transparency in banking services.
- This organization laid down standards for banks regarding their dealings with customers.
- The BCSBI issued a code titled the “Code of Bank’s Commitment to Customers.”
- This code was formulated with the objective of fostering trust between banks and their customers.
- It encompasses regulations pertaining to the quality and accountability of banking services.
- This code was first issued in July 2006.