Business Daily from THE HINDU group of publications
Tuesday, Jul 04, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 04, 2006 |
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Opinion
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Letters Customers' right
This is with reference to "Bank customers get their right" (Business Line, July 2): It is a reminder that public censure alone ensures implementation of the code set for the satisfaction of the customers. But the Banking Codes and Standard Board of India and the Indian Banks' Association (IBA) should seek comments of individual banks before finalising the terms of the code. Each bank has its own problems when it comes to ensuring customer satisfaction. The introduction of core banking solutions in many banks has helped reduce grievances from the remittance/collection angles. It remains to be seen how complaints in credit sanctions can be redressed. Customers should be informed of tariff changes as and when they take place. This may be done through a mechanism as envisaged in the codebook. The publication of names of banks that fail to implement the code should be considered only when the individual bank has agreed to the terms in the code. The IBA should act as a catalyst, rather than an authority of the member banks. C. P. Velayudhan Nair Kochi Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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