Monday, 10 November 2014

BCSBI - Helpline for your Financial Problems - Bank Defaulters



Credit Counselling Scheme of the Banking Codes and Standards Board of India.

•  Coverage:  Credit Counselling will be provided only to the borrowers of member banks in the retail segment e.g. personal loam/vehicle loan/home loan/Credit Card and MSE sector whose credit exposure does not exceed Rs. 50 lakh.     
•  Procedure: Borrowers in distress and seeking credit counselling may directly apply to BCSBI in the prescribed application form. Member banks may also encourage borrowers whose loan accounts are in default and who, in their opinion, need credit counselling to approach BCSBI.    

-  If the applicant’s case requires debt restructuring, the Counsellor will   
formulate a debt restructuring plan in consultation with the concerned bank(s).
   
-  It is not obligatory for a bank to accept the debt restructuring plan drawn by the Counsellor and the concerned bank is free to accept the solution in full or with modifications.
•  Charges:  The credit counselling services are free of charge.
Confidentiality:  Credit Counsellors will maintain confidentiality of the information received from member banks/borrowers. Member banks need to assure their borrowers on this to encourage them to avail of the credit counselling services.    
Coordination:  In order to ensure that there is co-ordination between Credit Counsellors and the banks and also to ensure that the objectives of the Credit Counselling are met with speed and efficiency, each member bank will identify a Nodal Officer, preferably from the Credit Department.   
•  Location and Address: Counselling services will be available between 10.00 AM to 5.30 PM from Monday to Friday at the above address.

What should a customer do if his bank does not provide services as promised in the Code?
Every Member bank is required to:
  • Have a Help desk/Helpline at the branch
  • Have a Code Compliance officer at each Controlling office above the level of the branch.
  • Display at each branch name and contact number of Code Compliance Officer.
  • Display Name and address of the Banking Ombudsman.
This is to help the customer in case his bank does not provide services as promised in the Code.
The customer should first approach the help desk of the branch/bank. In case the issue is not resolved, the Code Compliance Officer of the bank may be approached by the complainant. In case the issue is still not resolved to the satisfaction of the customer he should take it up with the Banking Ombudsman .

Contact Addresses of BCSBI:

Reserve Bank of India Building,
C-7, 4 th Floor,
Bandra Kurla Complex,
Mumbai - 400 051.
Ph. No. 022 - 2657371526573724.
Fax No. 022 - 26573719.
Website address: www.bcsbi.org.in
Helpdesk : help.bcsbi@rbi.org.in

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