Nomination is the right conferred upon the holder of a bank account to appoint one or more persons who will be entitled to receive monies upon the death of the account holder. In the event of death of an account or locker holder, the bank can release the account proceeds or contents to the nominee […]

RBI has issued a Master Circular on Customer Service in Banks on July 1, 2015. RBI explained the Settlement of claims in respect of deceased depositors in bank. As per the circular, RBI has simplified the procedure the settlement process in deceased account payment. According to provisions of the Banking Regulation Act, Banks should adhere […]

RBI constituted committee on Procedures and Performance Audit of Public Services in November 2003, under the chairmanship of Shri S. S. Tarapore (former Dy. Governor) to address the issues relating to availability of adequate banking services to the common man. Therefore, RBI, in its Monetary Policy Statement in April 2005 announced setting up of the […]

  The Bank is committed to following fair practices especially with regard to collection and recovery of its dues from its borrowers (hereinafter referred to as “customer”). At the same time the Bank is also committed to follow fair practices in this regard to foster customer confidence and to retain the image of the Bank […]

Lending is an important activity of the banking industry. Bank invests public deposits in the form of lending and earns a profit. The quality of the advances indicates the bank’s image in the market. A banker should have a thorough knowledge of the requirement of the customer and should be in a position to cater […]