BCSBI was set up by RBI in collaboration with banks pursuant to the announcement made in the find-bride comment Annual Policy statement in April, 2005. It acts like an industry watchdog so that every member bank (including Regional Rural Banks and Urban Cooperative Banks) renders customer service at least as per the committed minimum standard. BCSBI has evolved the customer service codes in consultation inferno summary with the banks.
These Codes are the Code of a bank’s commitment to customers and the code of commitment to micro and small enterprises. BCSBI has asked all the banks to provide the Most Important Terms and Conditions (MITC) in all their important documents prominently in the front page for credit card and loan products etc. These are the systemic issues that the BCSBI i s purpose of a mission statement looking into.