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The Banking Codes and Standards Board of India (BCSBI) [1] 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".
The functions of the subsidiary are governed by the provisions of 'The Deposit Insurance and Credit Guarantee Corporation Act, 1961' (DICGC Act) and 'The Deposit Insurance and Credit Guarantee Corporation General Regulations, 1961' framed by the Reserve Bank of India in exercise of the powers conferred by sub-section (3) of Section 50 of the Act.
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance , Government of India , it is responsible for the control, issue, and maintenance of the supply of the Indian rupee.
Section 7 states that the central government can legislate the functioning of the RBI through the RBI board, and the RBI is not an autonomous body. Section 17 of the Act defines the manner in which the RBI can conduct business as the central bank of India. The RBI can accept deposits from the central and state governments without interest.
It is considered as a foreign bank under the Banking Regulation Act, 1949 and thus is regulated by the Reserve Bank of India (RBI). The bank has been operating in India for over 160 years, first as the Chartered Bank of India, Australia and China which set up its first branches in Kolkata and Mumbai in 1858. It is also the largest foreign bank ...
The NGO Consumers International adopted the eight rights and restated them as a charter. [6] Subsequently, the organization began recognizing the date of Kennedy's speech, March 15, as World Consumer Rights Day. [7]
In light of this, the Federal Competition and Consumer Protection Commission (FCCPC), whose aim is to protect and enhance consumers' interest through information, education, and enforcement of the rights of consumers was established by an Act of Parliament o promote and protect the interest of consumers over all products and services. In a ...
Reserve Bank of India: 01-Apr-1935: Mining and Mineral Exploration: Directorate General of Mines Safety(DGMS) 07-Jan-1902: Food Safety: Food Safety and Standards Authority of India: Aug-2011: Security Market: Securities and Exchange Board of India: 12-Apr-1992: Aeronautical Tariff: Airports Economic Regulatory Authority: 12-May-2009: Insurance ...