It is in this context that we had to reiterate our instructions on stopping imposition of such charges leading to a negative balance in savings accounts. I insist that all banks must stop these practices forthwith if not already done so. 17.
Before I conclude let me list out few good practices that I would like the industry to adopt for enhanced customer service: 4  BIS central bankers’ speeches  a. Non-insistence on local address for account opening - I believe the banks continue to insist on providing a proof of local address also to the migrants for opening a bank account.