RBI Issues Scheme of Penalties for Bank Branches & Currency Chests for Deficiency in Rendering Customer Service

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Last Updated on 3 April, 2024

penalty scheme for bank branches

Circular No. RBI/DCM/2024-25/112 DCM(CC) No.G-1/03.44.01/2024-25, Dated: 01.04.2024

The Reserve Bank of India has issued a circular maintaining the quality of customer service in the banking industry through its Scheme of Penalties for bank branches and Currency Chests. This scheme is designed to promote efficient customer service, uphold operational guidelines, and enforce compliance with the Clean Note Policy. The penalty will be levied for Shortages of notes in soiled note remittances and shortages of notes and coins in currency chest balances.

Click Here To Read The Full Circular

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