Customer Service & Grievance Redressal Policy

1. Policy Usage Guide

This section explains the structure of the policy document and the purpose of the same is to enable easy navigation and understanding of the contents of the document by various stakeholders. The Policy is organized in the following sections:

Regulatory reference

This section outlines the list of applicable regulations to the current policy document. The name of regulation issued by various regulators along with the date and reference number will be listed under this section.

The purpose of the same is to enable various stakeholders in identification of applicable regulations for the policy and act as a ready reference for the regulations.

Key stakeholders and roles

Under this section, a list of all the key stakeholders involved in the design, review, approval and implementation of the policy are identified and the major roles to be performed by them are listed. This section enables various stakeholders in understanding their respective roles with regard to the current policy document.

Frequently asked questions

This section lists down the frequently asked questions with respect to the current policy document from the perspective of various stakeholders and gives a reference to the relevant section of the policy to aid in clear understanding of the question.

Policy content

This section contains various aspects of the policy design and implementation as per the applicable regulatory guidelines. This section outlines the action required by various stakeholders of the Bank in ensuring implementation of the policy.

2. Regulatory Reference

The following key regulation is applicable to the current policy document.

3. Key Stakeholders and Roles

Matters relating to customer service are deliberated by the Board to ensure that the instructions are implemented meaningfully. Commitment to hassle-free service to the customer at large and the Common Person in particular under the oversight of the Board will be the major responsibility of the Board. The key appointments that NSDL Payments Bank will ensure are:

Customer Service Committee of the Board

NSDL Payments Bank will constitute a Customer Service Committee of the Board that includes experts, relevant stakeholders and representatives of customers as invitees and/or discuss their inputs/feedback which will enable the bank to formulate policies and assess the compliance thereof internally with a view to strengthening the corporate governance structure in the banking system and also bring about ongoing improvements in the quality of customer service provided by the bank.

4. Policy Content

4.1. Policy for General Management of Branches & BC Points

The bank will have a Board approved policy for general management of the branches/BC outlets which includes the following aspects-

  • Bank will establish Banking outlets for furthering financial inclusion, from which BCs may operate. These outlets may be in the form of low cost simple structures.
  • Ultra-Small Digital Branches may be set up by the Bank, which will have minimum infrastructure managed full time by bank employee
  • Use of Hindi and regional languages in transacting business by bank with customers, including communications to customers.
  • Employee training in line with customer service orientation and Technical areas of banking to the staff at delivery points;
  • Visit by senior management team to branches/BC points at periodical intervals for on the spot study of the quality of service rendered by the branches/BC points.
  • Reward the best branches/BC Points from customer service point of view by annual awards/recognition
  • The Bank has a New Product and Services Approval Process through ERMC (Executive Risk Management Committee) which would require approval before any new launch or change in the product or service.

4.2. Board approved policies on Customer Service

Minimum Balance in Savings/Current Bank Accounts

At the time of opening the accounts, bank will inform their customers in a transparent manner the requirement of maintaining minimum balance and levying of charges, etc., if the minimum balance is not maintained. Any charge levied subsequently will be transparently made known to all depositors in advance with one month’s notice. The bank will inform, at least one month in advance, the existing account holders of any change in the prescribed minimum balance and the charges that may be levied if the prescribed minimum balance is not maintained.

Levy of Penal Charges on Non-Maintenance of Minimum balance in savings/current bank accounts

While levying charges for non-maintenance of minimum balance in savings/current bank accounts, bank will adhere to the following additional guidelines:

  • In the event of a default in maintenance of minimum balance / average minimum balance as agreed to between the bank and customer, the bank will notify the customer clearly by SMS / email that in the event of the minimum balance not being restored in the account within a month from the date of notice, penal charges as per the GSFC will be applicable.
  • In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.
  • The policy on penal charges to be so levied may be decided with the approval of Board of the bank.
  • The penal charges will be directly proportionate to the extent of shortfall observed. In other words, the charges will be a fixed percentage levied on the amount of difference between the actual balance maintained and the minimum balance as agreed upon at the time of opening of account.
  • It will be ensured that such penal charges are reasonable and not out of line with the average cost of providing the services.
  • It will be ensured that the balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance.

These guidelines will be brought to the notice of all customers apart from being disclosed on the bank's website.

Providing Statement of Accounts

  • Bank will send monthly statement of accounts via email and will be available for download from digital channels.
  • Bank will charge a minimum amount to the customers who request physical account statement other than monthly statement of accounts sent by the bank via email.

Address / Helpline Number of the Branch in Statement of Accounts

Bank will ensure that full address / helpline number of the branch is invariably mentioned in the statement of accounts issued to account holders in order to improve the quality of service available to its customers.

Payment of interest on accounts frozen by bank

Bank will freeze the accounts of customers based on the orders of the enforcement authorities. The issue of payment of interest on such frozen accounts will be examined in consultation with Indian Bank’ Association.

Acceptance of Cash Deposits

Bank will ensure that customers will be able to deposit cash via recycler machines and instant credit would be given for the same. . Further, the bank will refrain from incorporating clauses in the terms and conditions which restrict deposit of cash.

Reconciliation of transactions at ATMs failure - Time limit

Bank will make sure that:

  • The time limit for resolution of customer complaints by the bank is within 14 working days from the date of receipt of customer complaint (with the exception of certain cases involving third parties as specified in the Customer compensation policy).
  • The number of free transactions permitted per month at other bank ATMs to Savings Bank account holders will be inclusive of all types of transactions, financial or non-financial.
  • All disputes regarding ATM failed transactions will be settled by the bank and the acquiring bank through the ATM System Provider only.

Security Issues and Risk mitigation measures- Online alerts to the cardholder for usage of Pre-Paid/debit cards

Bank will send online alerts via email and SMS to the Account holders for all Card related transactions (Financial/Non-Financial) and Card Not Present transactions.

Security Issues and Risk mitigation measures related to Card Not Present (CNP) transactions

Bank will ensure that it has put in place additional factor of authentication/validation based on information not visible on the cards for all on-line Card not Present (CNP) transactions.

4.3. Service at the counters

Banking hours / working days of bank branches

  • Bank/Banking Outlet will normally function for public transactions at least for 4 hours on week days for atleast five days a week.
  • The bank will provide access to customers for their banking relationships 24X7 through digital channels.
  • In order to safeguard bank' own interest, if Bank will close any of its offices on a day other than a public holiday, it will give due and sufficient notice to all the parties (through SMS/Website) concerned who are or are likely to be affected by such closure.
  • Further, the provisions, if any, in regard to the bank' obligations, to the staff under the Industrial Awards / Settlements, will be complied with. Clearing House authority of the place will also be consulted in this regard.

Commencement / Extension of working hours

Commencement of employees’ working hours 15 minutes before commencement of business hours will be made operative by bank at branches in metropolitan and urban centres. The bank will implement the recommendation taking into account the provisions of the local Shops and Establishments Act. The branch managers and other supervising officials will, however, ensure that the members of the staff are available at their respective counters right from the commencement of banking hours and throughout the prescribed business hours so that there may not be any grounds for customers to make complaints.

4.4. Guidance to customers and Disclosure of Information

Display of time norms

Time norms for specialized business transactions will be displayed predominantly in the website, mobile site and branches.

Display of information by bank

Website/Mobile App: The detailed information will also be made available on the bank’s web-site and Mobile App. Bank will adhere to the broad guidelines relating to dating of material, legibility, etc., while placing the same on website or Mobile App. In this context, Bank will ensure that the customers are able to easily access the relevant information from the Home Page of the bank’s web-sites or Mobile app. Further, there are certain information relating to service charges and fee and grievance redressal that are to be posted compulsorily on the website and Mobile App of the bank.

Comprehensive Notice Board: Bank will display information in their branches/banking outlets which is one of the modes of imparting financial education. Bank would display information on public grievance redressal mechanism service charges, interest rates, services offered, product information, time norms for various banking transactions.

Other issues: Bank will display promotional and product information while ensuring that the mandatory displays will not be obstructed in anyway. As customer interest and financial education are sought to be achieved by the mandatory display requirements, they will also be given priority over the other display boards. Information relating to Government sponsored schemes as applicable location-wise will be displayed according to their applicability.

Display of information relating to Interest Rates and Service Charges

Bank would devise a format for display of information relating to interest rates and service charges which would enable the customer to obtain the desired information at a quick glance. Bank will also ensure that only latest updated information in the above format is placed on their web-sites and the same is easily accessible from the Home Page of web-sites/mobile app/mobile website.

4.5. Providing bank facilities to persons with disabilities

Guidelines framed by IBA based on the judgment of Chief Commissioner for Persons with Disabilities

Indian Bank' Association has framed operational guidelines for implementation of its member bank on providing banking facilities to persons with disabilities. Bank will adopt / follow the operational guidelines meticulously.

4.6. Grievance Redressal Mechanism

Bank will ensure that a suitable mechanism exists for receiving and addressing complaints from its customers / constituents with specific emphasis on resolving such complaints fairly and expeditiously regardless of source of the complaints.

Bank may:

  • Have a system of receiving and acknowledging the complaints.
  • Fix a time frame for resolving the complaints received at different levels.
  • Ensure that redressal of complaints emanating from rural areas and those relating to financial assistance to Priority Sector and Government’s Poverty Alleviation Programs also form part of the above process.
  • Bank shall prominently display at Website/Mobile/branches/Banking outlets, the helpline numbers with other details of the branch employee (in case of branch) who can help attend the complaint
  • Bank will display on their web-sites/mobile sites, the names and other details of the officials who can be contacted for redressal of complaints including the names of the Nodal Officers / Principal Nodal Officers.
  • Further, bank may also display on their web-sites/Mobile app, the names and other details of their CMD / CEO and also Line Functioning Heads for various operations to enable their customers to approach them in case of need, if necessary.
  • Bank will ensure to disclose the brief details regarding the number of complaints along with their financial results. This statement will include all the complaints received at the Head Office / Controlling Office level and the complaints received at the branch/Banking Point level. However, where the complaints are redressed within the next working day, bank will not include the same in the statement of complaints.
  • For Complaints not within prescribed TAT , the concerned Nodal Officer would take the same on highest priority for resolution. Further, bank would ensure that the customer is made aware of his rights to approach the concerned Banking Ombudsman in case he is not satisfied with the bank’s response.

Appointment of Key Stakeholders

The key appointments which bank will ensure are:

  • Branch Manager/Controlling Officer- The Branch Manager or Controlling Officer at local level shall be first point of face to face contact to resolve complaints expeditiously and within the stipulated timeline.
  • Customer Service Officer- The bank will appoint a customer service officer for customer service in the Head Office and controlling centers, to whom customers with grievances can approach in the first instance and with whom the Banking Ombudsman and RBI can liaise.
  • Principal Nodal Officer- This should be an employee of a senior rank who will monitor the entire customer service mechanism and identify areas of improvement.
  • Customer service Committee of the Board- The Bank shall constitute a Board approved CSCB whose role will be to review the customer service mechanism in the Bank and also deliberate on timely measures to enhance customer satisfaction.
  • Standing Committee on Customer service- The Committee shall focus on building and strengthening customer service orientation in the Bank through initiating various measures including simplifying processes for improvement in customer service levels. The Committee shall hold periodic meetings to discuss service updates, ongoing projects specifically targeted towards improvement of customer service and appropriate actions arising from discussions.

System to capture complaints

  • Bank may have in place a system to enable efficient and effective tracking and resolution of complaints.
  • All the complaints received are recorded and resolved and ensure effective monitoring / escalation mechanism to the senior functionary responsible so as to make sure that none of the complaints remain unresolved.

Display of Names of Nodal Officers

With a view to making the Grievance Redressal Mechanism more effective, in addition to the instructions mentioned above, bank will make sure to:

  • Ensure that the Principal Nodal Officer appointed under the Banking Ombudsman Scheme is of a sufficiently senior level
  • Contact details including name, complete address, telephone / fax number, email address, etc., of the Principal Nodal Officer will be prominently displayed in the website/mobile site of the bank. The name and address of the Principal Nodal Officer will also be forwarded to the concerned department in RBI.

Dealing with Complaints and Improving Customer Relations

Levels of Complaint redressal

  1. First Point of contact – Call Centre, Email, Digital Complaint form, Branch Officer, controlling Officer
  2. If complaint not resolved within 7 working days at level a – Customer can contact Nodal Officer
  3. If Complaint not resolved within 7 working days at level b – Customer can contact Principal Nodal Officer
  4. If Complaint not resolved within a month at level a,b and c – Customer can contact Banking Ombudsman as per the details mentioned on the bank website.

Complaint Form

A complaint form in a digital format, along with the name of the Nodal Officer for complaint redressal, may be provided in the homepage of Bank Website itself to facilitate complaint submission by customers. The complaint form will also indicate that the first point for redressal of complaints is the bank itself and that complainants shall approach the Banking Ombudsman only if the complaint is not resolved at the bank level within a month. Similar information will be displayed in the boards put up in all the bank branches/Banking point to indicate the name and address of the Banking Ombudsman. In addition, the name, address and telephone numbers of the Controlling Authority of the bank to whom complaints can be addressed will also be given prominently.

Complaint tracking

Bank shall provide acknowledgement to the customers through SMS or email and intimation to the Controlling Office for complaints. Every customer complaint will be forwarded to the concerned nodal/concerned officer of the bank along with the remark of the Branch Manager/Controlling officer (in case of complaints received from branch) within a time frame.

Bank shall establish a complaint tracking mechanism which would have all the complaints and their status irrespective from where the same is raised. They shall be reviewed/ scrutinized by the concerned/nodal officer at frequent intervals.

Timelines for responding/resolving complaints

  • Normal cases (other than the one mentioned below): Maximum 14 working days
  • Fraud cases, Legal cases and cases which need retrieval of documents and exceptionally old records: Maximum 14 working days
  • Cases involving third party (other Banks): Maximum 1 month
  • NEFT/RTGS complaints will be resolved within 10 working days.

If any case needs additional time, the Bank will inform the customer/regulator the reasons of delay in resolution and provide expected time lines for resolution of the issue

4.7. Erroneous Debits arising on fraudulent or other transactions

Vigilance by bank

Bank will ensure to adhere to the guidelines and procedures for opening and operating deposit accounts to safeguard against unscrupulous persons opening accounts mainly to use them as conduit for fraudulently encashing payment instruments. However, in view of receipt of continuous complaints of fraudulent encashment by unscrupulous persons opening deposit accounts in the name/s similar to already established concern/s resulting in erroneous and unwanted debit of drawers’ accounts, bank will remain vigilant to avoid such lapses and issue necessary instructions to the branches / staff.

Compensating the customer

Besides in cases of the above kind, bank will not restore funds promptly to customers even in bona-fide cases but defer action till completion of either departmental action or police interrogation. Therefore, (i) In case of any fraud, if the bank is convinced that an irregularity / fraud has been committed by its staff towards any constituent, the bank will at once acknowledge its liability and pay the just claim, (ii) in cases where bank is at fault, the bank will compensate customers without demur, and (iii) in cases where neither the bank is at fault nor the customer is at fault but the fault lies elsewhere in the system, then also the bank will compensate the customers (up to a limit) as part of a Board approved customer relations/customer compensation policy.

4.8. Nomination Facility

Nomination facility in respect of deposits – Savings and Current account

  • Nomination facility is intended for individuals including a sole proprietary concern.
  • A nominee cannot be an Association, Trust, Society or any other Organization or any office-bearer thereof in his official capacity. In view thereof any nomination other than in favor of an individual will not be valid.
  • Bank will allow variation/cancellation of a subsisting nomination by all the surviving depositor(s) acting together.

Nomination Facility – Sole Proprietary Concern

Bank will extend the nomination facility also in respect of deposits held in the name of a sole proprietary concern.

Nomination Facility in Single Deposit Accounts

Bank will encourage and provide guidance to deposit account holders on the benefits of nomination facility. Bank will insist that the person opening a deposit account makes a nomination.

Acknowledgement of Nomination

Bank in terms of Rules 2 (9), 3 (8) and 4 (9) of the Banking Companies Nomination (Rules), 1985, will acknowledge in writing or email to the depositor(s) the filing of the relevant duly completed Form of nomination, cancellation and / or variation of the nomination. Bank will strictly comply with the provisions of Banking Regulation Act, 1949 and Banking Companies (Nomination) Rules, 1985 and devise a proper system of acknowledging the receipt of the duly completed form/digital form of nomination, cancellation and / or variation of the nomination. Such acknowledgement will be given to all the customers or sent digitally irrespective of whether the same is demanded by the customers.

Registering the nomination

In terms of Rules 2 (10), 3 (9) and 4 (10) of the Banking Companies (Nomination) Rules, 1985; Bank will register the nomination, cancellation and / or variation of the nomination. The bank will accordingly take action to register nominations or changes therein, if any, made by their depositor(s) / hirers.

Incorporation of the legend “Nomination Registered” and indicating the Name of the Nominee in Statement of Accounts

When a bank account holder has availed himself of nomination facility, the same will be indicated on the Statement of accounts so that, in case of death of the account holder, his relatives can know from the Statement of accounts that the nomination facility has been availed of by the deceased depositor and take suitable action. Further, bank ensures that in addition to the legend “Nomination Registered”, they will also indicate the name of the Nominee in Statement of Accounts subject to customer consenting to the same.

Customer Guidance and Awareness Educating Customers on the Benefits of nomination clause

  • Bank will create awareness and provide guidance to deposit account holders on the benefits of the nomination facility.
  • In addition to obtaining nomination forms, bank will ensure that account opening form will contain space for nomination also so that the customers could be educated about availability of such facilities.

4.9. Settlement of claims in respect of deceased depositors Simplification of procedure Provisions of the Banking Regulation Act, 1949

Bank will adhere to the provisions of Sections 45 ZA to 45 ZF of the Banking Regulation Act, 1949 and the Banking Companies (Nomination) Rules, 1985.

Accounts with nominee clause

In the case of deposit accounts where the depositor had utilized the nomination facility and made a valid nomination, the payment of the balance in the deposit account to the nominee of a deceased deposit account holder will represent a valid discharge of the bank's liability provided:

  • the bank would exercise due care and caution in establishing the identity of the nominee and the fact of death of the account holder, through appropriate documentary evidence;
  • there is no order from the competent court restraining the bank from making the payment from the account of the deceased; and
  • it has been made clear to the nominee that he would be receiving the payment from the bank as a trustee of the legal heirs of the deceased depositor, i.e., such payment to him shall not affect the right or claim which any person will have against the nominee to whom the payment is made.
  • It will be noted that since payment made to the nominee, subject to the foregoing conditions, would constitute a full discharge of the bank's liability, insistence on production of legal representation is superfluous and unwarranted and only serves to cause entirely avoidable inconvenience to the (s) / nominee and would, therefore, invite serious supervisory disapproval. In such case, therefore, while making payment to the / nominee of the deceased depositor, the bank will desist from insisting on production of succession certificate, letter of administration or probate, etc., or obtain any bond of indemnity or surety from the nominee, irrespective of the amount standing to the credit of the deceased account holder.

Treatment of flows in the name of the deceased depositor

In order to avoid hardship to the nominee of a deposit account, bank will obtain appropriate agreement / authorization from the nominee with regard to the treatment of pipeline flows in the name of the deceased account holder. In this regard, bank would give choice to customer for adopting either of the following two approaches:

The bank could be authorized by the nominee of a deceased account holder to open an account styled as 'Estate of Shri ________________, the Deceased' where all the pipeline flows in the name of the deceased account holder could be allowed to be credited, provided no withdrawals are made.


The bank could be authorized by the nominee to return the pipeline flows to the remitter with the remark "Account holder deceased" and to intimate the survivor(s) / nominee accordingly. The nominee / legal heir(s) could then approach the remitter to effect payment through a negotiable instrument or through ECS/NEFT/RTGS transfer in the name of the appropriate beneficiary.

Interest payable on the deposit account of deceased depositor

In the case of balances lying in savings/ account standing in the name of a deceased individual depositor/sole proprietorship concern, interest will be paid only from 1st Will, or from the date of death of the depositor, whichever is later, till the date of repayment to the claimant/s at the rate of interest applicable to savings deposit as on the date of payment. All Dues including interest payable will be explained in detail in Customer deposit Policy of the Bank.

Time limit for settlement of claims

Bank will settle the claims in respect of deceased depositors and release payments to nominee(s) within a period not exceeding 15 days from the date of receipt of the claim subject to the production of proof of death of the depositor and suitable identification of the claim(s), to the bank's satisfaction. Bank will report to the Customer Service Committee of the Board, at appropriate intervals, on an ongoing basis, the details of the number of claims received pertaining to deceased depositors and those pending beyond the stipulated period, giving reasons therefor.

Claim Forms to be made available

A view to facilitate timely settlement of claims on the death of a depositor, bank will provide claim forms for settlement of claims of the deceased accounts, to any person/s who is/are approaching the bank’s helpline/website. Claim forms will be put on the bank’s website prominently so that claimants of the deceased depositor can access and download the forms without having to visit the concerned bank/branch for obtaining such forms for filing claim with the bank.

4.10. Settlement of claims in respect of missing persons

Bank will follow the following system in case a claim is received from a nominee / legal heirs for settlement of claim in respect of missing persons in line with the provisions of Section 107 / 108 of the Indian Evidence Act, 1872. Section 107. Bank will formulate a policy which would enable them to settle the claims of a missing person after considering the legal opinion and taking into account the facts and circumstances of each case.

4.11. Unclaimed Deposits / Inoperative Accounts in bank

Bank ensures to follow the instructions detailed below while dealing with inoperative accounts:

  • Bank will make an annual review of accounts in which there are no operations (i.e., no credit or debit other than crediting of periodic interest or debiting of service charges) for more than one year. The bank will approach the customers and inform them via an email or SMS that there has been no operation in their accounts.
  • In case any reply is given by the account holder giving the reasons for not operating the account, bank will continue classifying the same as an operative account for one more year within which period the account holder will be requested to operate the account. However, in case the account holder still does not operate the same during the extended period, bank will classify the same as inoperative account after the expiry of the extended period.
  • For the purpose of classifying an account as ‘inoperative’ both the type of transactions i.e., debit as well as credit transactions induced at the instance of customers as well as third party will be considered. However, the service charges levied by the bank or interest credited by the bank will not be considered.
  • Further, the segregation of the inoperative accounts is from the point of view of reducing risk of frauds etc. However, the customer will not be inconvenienced in any way, just because his account has been rendered inoperative. The classification is there only to bring to the attention of dealing staff, the increased risk in the account. The transaction will be monitored at a higher level both from the point of view of preventing fraud and making a Suspicious Transactions Report. However, the entire process will remain un-noticeable by the customer.
  • Operation in such accounts will be allowed after due diligence as per risk category of the customer. Due diligence would mean ensuring genuineness of the transaction, verification of the identity etc. However, it has to be ensured that the customer is not inconvenienced as a result of extra care taken by the bank.
  • There will not be any charge for activation of inoperative account.
  • Bank will ensure that the amounts lying in inoperative accounts ledger are properly audited by the internal auditors / statutory auditors of the bank.
  • Interest on savings bank accounts will be credited on regular basis whether the account is operative or not.
  • Display list of Inoperative Accounts: Bank will display the list of unclaimed deposits/inoperative accounts which are inactive / inoperative for ten years or more on their respective websites. The list so displayed on the websites will contain only the names of the account holder(s) and his/her address in respect of unclaimed deposits/inoperative accounts. In case such accounts are not in the name of individuals, the names of individuals authorized to operate the accounts will also be indicated. However, the account number, its type and the name of the branch will not be disclosed on the bank’s website.
  • Bank will also give on the same website, the information on the process of claiming the unclaimed deposit/activating the inoperative account and the necessary forms and documents for claiming the same. Bank will have adequate operational safeguards to ensure that the claimants are genuine.
  • Strengthening the Regulatory Framework for Unclaimed Deposits: Bank will put in place a Board approved policy on classification of unclaimed deposits; grievance redressal mechanism for quick resolution of complaints; record keeping; and periodic review of such accounts.
  • In order to reduce the risk of fraud etc., in such accounts, while allowing operations in these accounts, due diligence will be exercised by ensuring the genuineness of transactions, verification of signature and identity, etc.

4.12. Co-ordination with officers of Central Board of Direct Taxes

There is a need for greater co-ordination between the income-tax department and the banking system. As such bank will extend necessary help/co-ordination to tax officials whenever required. Further, bank will have to view with serious concern cases where their staff connive/assist in any manner with offences punishable under the Income Tax Act. In such cases in addition to the normal criminal action, such staff member will also be proceeded against departmentally.

4.13. Miscellaneous

Accepting standing instructions of customers

Standing instructions will be freely accepted on all current and savings bank accounts. The scope of standing instructions service will include payments on account of taxes, rents, bills, school / college fees, licenses, etc.

Rounding off of transactions

All transactions, including payment of interest on deposits/charging of interest on advances, will be rounded off to the nearest rupee i.e., fractions of 50 Paise and above shall be rounded off to the next higher rupee and fraction of less than 50 Paise shall be ignored.

4.14. Various Working Groups / Committees on Customer Service in Bank - Implementation of the Recommendations

In order to measure the progress achieved by the bank in implementation of the recommendations of various working groups/Committees on customer service, bank will examine the recommendations which have relevance in the present day banking and continue to implement them. Bank will consider submitting periodically to their Customer Service Committee of the Board a progress report on the steps/ measures taken in this regard.

4.15. Code of Bank’s Commitment to Customers

Bank will follow various provisions of the Code of Bank’s Commitment to Customers, implementation of which is monitored by the Banking Codes and Standards Board of India (BCSBI).