RBI asks banks to give adequate transaction details in passbooks

Mumbai: The RBI today asked banks to provide "adequate details" of transactions in the passbooks and statements of accounts so that customers can cross-check them.

AFP

AFP

Earlier, the Reserve Bank had advised them to avoid inscrutable entries in passbooks/statements of account and ensure that brief, intelligible particulars are invariably entered with a view to avoiding inconvenience to depositors.

However, the RBI said it has come to its notice that many lenders still do not provide adequate details.

"In the interest of better customer service, it has been decided that banks shall at a minimum provide the relevant details in respect of entries in the accounts," the central bank said while prescribing a list of details to be provided.

The details to be provided by banks in passbooks, include name of the payee, mode of transaction, nature of the charges (like fee/ commission/ fine/ penalty), and loan account number.


Updated Date: Jun 22, 2017 19:55 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See