csrgk today monthly magazine

 csrgk today monthly magazine

csrgk today monthly magazine Published this articles page no 520

Some recent initiatives of the Reserve Bank in consumer education and protection are

The RBI has formulated a Charter of Customer Rights for banks based on global best practices in the area of consumer protection. The Charter enshrines broad overarching principles for protection of bank customers and enunciates the following five basic rights of bank customers

1.            Right to Fair Treatment

2.            Right to Transparency Fair and Honest Dealing

3.            Right to Suitability

4.            Right to Privacy

5.            Right to Grievances Redress and Compensation