On their part, BCSBI would need to enroll these new entities as member banks so as to ensure compliance to its codes and standards. ii) The banks also need to be prepared for following impending regulatory changes as well as enhance their focus on some of the supervisory concerns relating to customer complaints that have been observed by RBI.
On the face of it, these might look quite obvious but these are extremely important from the view point of customers. The narration in the passbooks/ bank statements at present is quite cryptic and generally inscrutable. This is despite extant RBI guidelines that mandate recoding of intelligible particulars in the statements.