August 23, 2014 8:51 AM

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RBI seeks comments from public on 'Draft Charter on Customer Rights'

The Reserve Bank has sought comments from the public on its 'Draft Charter on Customer Rights'. It contains five basic points related to Fair Treatment, Transparency, Fair and Honest Dealing, Right to Suitability, Right to Privacy and Right to Grievance Redress and Compensation. The Charter spells out the rights of the customer and also the responsibilities of the financial service provider.In a release issued from Mubai, RBI said the specific and actionable comments may be emailed or sent by post on or before September 22, 2014.According to RBI the draft Charter of Customer Rights to deal with entities regulated by the Reserve Bank, has been framed based on global best practices of consumer protection as also discussions and interaction with various stakeholders.

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