Banking · BCSBI
Identify the correct statement regarding the Banking Codes and Standards Board of India (BCSBI) based on its historical organizational mandate before its dissolution: 1. It was a statutory body constituted under an Act of Parliament with mandatory membership for all scheduled commercial banks. 2. It functioned as an individual customer grievance redressal platform with powers similar to the Banking Ombudsman. 3. It was an independent society registered under the Societies Registration Act, 1860, set up to monitor banks' compliance with codes of commitment to customers.
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