The Banking Codes and Standards Board of India (BCSBI) was registered as a society under the.....in February 2006.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Banking Codes and Standards Board of India (BCSBI) was registered as a society under the____in February 2006.

A	Companies Act, 1956
B	Societies Registration Act, 1860
C	Banking Regulation Act, 1949
D	Reserve Bank of India Act, 1934

Explanation:

Detailed explanation-1: -The Banking Codes and Standards Board of India (BCSBI) held its first meeting in Mumbai today. The BCSBI was registered on February 18, 2006 in Mumbai under the Societies Registration Act, 1860. The management of the Board has been entrusted to a Governing Council under the Chairmanship of Smt.

Detailed explanation-2: -The Banking Codes and Standards Board of India (BCSBI) is an independent banking industry watchdog that protects consumers of banking services in India. The board oversee compliance with the “Code of Bank’s Commitment to Customers".

Detailed explanation-3: -Membership of BCSBI is voluntary and open to all scheduled banks.

Detailed explanation-4: -BCSBI was set up by the Reserve Bank in February 2006 as an independent and autonomous body, assigned to formulate codes of conduct to be adopted by banks voluntarily for ensuring fair treatment of customers.

There is 1 question to complete.