- This is a voluntary Code, which sets standards of fair banking practices for member banks of Indian Banks' Association to follow when they are dealing with individual customers. It provides valuable guidance to you for your day-to-day operations. The Code applies to:
- current, savings and all other deposit accounts
- pension, PPF accounts etc. operated as agents of RBI/Government
- collection and remittance services offered by the banks
- loans and overdrafts
- foreign-exchange services
- card products
- third party products offered through our network.
- As a voluntary Code, it promotes competition and encourages market forces to achieve higher operating standards for the benefit of customers. In the Code, 'you' denotes the customer and 'we' the bank, the customer deals with. The standards of the Code are covered by the four key commitments found in section 2.
Unless it says otherwise, all parts of this Code apply to all the products and services listed above, whether they are provided by branches across the counter, over the phone, by post, through interactive electronic devices, on the internet or by any other method.
Commitments outlined in this Code are applicable under normal operating environment. In the event of force majeure, we may not be able to fulfill the commitments under this Code.
This code shall come into effect from 1st September, 2004.
Helping you to choose products and services, which meet your needs
- Before you become a customer, we will:
- give you clear information explaining the key features of the services and products you tell us you are interested in
- give you information on any type of account facility which we offer and may suit your needs
- tell you what information we need from you to prove your identity and address and to comply with legal and regulatory requirements, and
- request for additional information about you and your family to build a database but such information can be furnished by you only if you wish and we will not compel you to give this information for opening your account.
- We will 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.
- Once you have chosen an account or service, we will tell you how it works.
- When you open a single account or a joint account, we will give you information on your rights and responsibilities.
- We recommend that you avail nomination facility offered on all deposit accounts, articles in safe custody and safe deposit vaults.
- We will guide you how we will deal with deposits and other assets held with us in the name of a deceased person in the absence of nomination.
This section is all about what you can do to help prevent your accounts being misused.
If you want to cancel a payment or series of payments you have authorised, you should do the following:
- To stop payment of a cheque or cancel standing instruction given, you must tell us in writing
- To cancel a direct debit, you can either tell the originator of the direct debit or tell us. We recommend you do both. It may not be possible to cancel payments if you do not give enough notice of your decision to cancel.
|Disclosure of Customer Complaints
||31 March, 2015
||31 March, 2014
||No. of complaints pending at the beginning of the year
||No. of complaints received during the year
||No. of complaints redressed during the year
||No. of complaints pending at the end of the year
The above information does not include complaints redressed within the next working day
We have a 'Nodal Officer' to ensure compliance of the Code. Our internal auditing procedures make sure we meet with the provisions of the code. The name and address of our Nodal Officer is as follows:
Mr. Ronald Fernandes
Chief Compliance Officer,
2nd Floor, Corporate Office,
Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg,
Worli, Mumbai - 400 025
Phone- 022-43252233, Fax - 022-43251200
Click Here for Analysis of Complaints
Click Here for List of Discontinued agencies
Click Here for Citizen's Charter - A Charter for Customer Services
Click Here for Customer Rights Policy
A central tenet in the Bank’s Policy on Corporate Governance is commitment to ethics, integrity, accountability and transparency. To ensure that the highest standards are maintained in these aspects on an on-going basis and to provide safeguards to various stakeholders (including shareholders, depositors and employees) the Bank has formulated a ‘Whistleblower Policy’. The Policy provides stakeholders with the opportunity to address serious concerns arising from irregularities, malpractices and other misdemeanours, if any, committed by the Bank’s personnel by approaching a Committee of senior officials of the Bank, set-up for the purpose (known as the Whistleblower Committee). Concerns relating to senior management can be reported directly to the Audit Committee of the Board. The Policy is intended to encourage stakeholders to report suspected or actual occurrence of illegal, unethical or inappropriate actions, behaviour or practices by staff without fear of retribution. To ensure smooth flow and management of complaints under Whistleblower policy, a web-based application – www.cwiportal.com has also been set up which provides an option for anonymous reporting thereby enabling the stakeholders to lodge their complaints online over a secure platform without fear of revelation of identity. The Policy contains provisions protecting Whistleblowers from any unfair action prejudicial to their interest. The Audit Committee of the Board reviews, on a quarterly basis, a synopsis of the complaints received and the resolution thereof.
Click Here for Code of Conduct for Direct Selling Agents
Click Here for Customer Compensation Policy
This Code is in compliance with Clause 49 of the Listing Agreements relating to Corporate Governance.