DATE : 18.08.2006
TO ALL OFFICES :
INSPECTION & AUDIT CIRCULAR NO.07
Reg.:- Fair Practices Code
– Display of Bank Charges.
Attention of the
Incumbents is invited towards our previous Credit Circulars No. 07/2005, 25/2006
& 27/2006 dated 05.11.2005, 27.05.2006 & 31.05.2006 respectively
containing details of all the services charges presently in vogue on deposits,
advances and all other services provided by our Bank.
Now, RBI vide its
letters no. RPCD. BOS /81/ 13.33.01/ 2005-06 dated 17.05.2006 and CSD.BOS
/5/13.33.01 /2006-07 dated 20.07.2006 has informed that representations are
being received from public about unreasonable and non-transparent service
charges being levied by Banks and has desired that all the Banks must ensure
transparency in this regard by displaying all the services charges on the notice
boards. A similar information regarding the name and address of the Banking
Ombudsman in addition to the name, address and telephone numbers of Controlling
Authorities of the bank should also be displayed prominently on the notice
board.
All the Incumbents Incharge are advised to display:
(i)
All the
Service Charges as conveyed vide above quoted Circulars issued by Credit
Section, Head Office, Kapurthala,
(ii)
Name and
address of the Banking Ombudsman already conveyed vide Inspection & Audit
Circular No. 01 dated 22.02.2006 and
(iii)
Names,
addresses & Telephone Numbers of the Controlling Authorities of our Bank
conspicuously on the notice board.
All the Incumbents are further advised that the
higher officials from RBI / NABARD and the Bank while visiting the Branches
shall check the compliance of the instructions as contained in this circular so
the same must be complied with meticulously.
All the RDM offices shall ensure that above instructions are complied with by all the
Branches / Offices of their respective regions in its true spirit.
Encls. As above
GENERAL MANAGER