Banking · Banking Codes and Standards
What is the primary aim and objective of the BCSBI (Banking Codes and Standards Board of India)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To act as a subsidiary of the Reserve Bank of India for banking supervision.
- 2To provide legal recourse to customers for settling disputes against banks.
- 3To promote fair and transparent banking practices by setting minimum standards for service quality.✓
- 4To fix the interest rates and service charges for member banks.
Correct answer
To promote fair and transparent banking practices by setting minimum standards for service quality.
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