4  BIS central bankers’ speeches  Some recent initiatives by the Reserve Bank 15. Let me now detail some recent initiatives by the Reserve Bank regarding consumer protection: a)  Most important perhaps was the release of a Charter of Customer Rights, which enshrined broad, overarching principles for protection of bank customers and enunciates the “five” basic rights of bank customers.
These are: (i) Right to Fair Treatment; (ii) Right to Transparency; Fair and Honest Dealing; (iii) Right to Suitability; (iv) Right to Privacy; and (v) Right to Grievance Redress and Compensation.