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Grievance

CUSTOMER SERVICE POLICY

 

The Customer Service Policy is reviewed and prepared to follow RBI guidelines updated in Master Circular DCBR.CO.BPD.(PCB).MC.No.15/12.05.001/2015-16

dated July 01, 2015

 

OBJECTIVE

  • In the present scenario of competitive banking, excellence in customer service is the most important tool for sustained business growth. As a service organization, customer service and customer satisfaction should be the prime concern of any bank. The bank believes that providing prompt and efficient service is essential not only to attract new customers, but also to retain existing ones. This policy document aims at minimizing instances of customer complaints and grievances through proper service delivery and review mechanism and to ensure prompt redressed of customer complaints and grievances. The review mechanism will help in identifying shortcomings in product features and service delivery. Customer dissatisfaction would spoil bank’s name and image. The bank’s policy on customer service covers major areas like “For Grievance Redressal”, Collection of Cheques/Instruments, Compensation Policy and so on. 

REDRESSAL OF GRIEVANCE

  • The bank keeps a robust grievance Redressal structure and processes to ensure prompt in-house Redressal of all their customer complaint. The bank will keep suitable mechanism exists for receiving and addressing complaints received from their customers with specific emphasis on resolving such complaints fairly and expeditiously regardless of the source of the complaint.
  • The bank will keep a system of acknowledging the complaints, where the complaints are received through letter/forms. The bank will prominently display at the branches the name of official, who can be contacted for Redressal of complaints together with their direct telephone number, fax number, complete address and e-mail address etc. for proper and timely contact by the customers and for enhancing the effectiveness of Redressal machinery.

COLLECTION OF CHEQUIES/INSTRUMENTS

  • Local Cheques- All cheques and other Negotiable Instruments payable locally would be presented through the clearing system prevailing at the centre. Cheques deposited at branch counters before the specified cut-off time will be presented for clearing on the next day in the case of MICR clearing and on the same day in the case of NON-MICR and Counter Clearing. Cheques deposited after the cut-off time presented in the next clearing cycle. As a policy, bank would give credit to the customer account on the same day clearing settlement takes place. Withdrawal of amounts so credited would be permitted as per the cheque return schedule of the clearing house. 
  • Bank branches situated at centers where no clearing house exists, would present local cheques on drawee banks across the counter and it would be the bank’s Endeavour to credit the proceeds at the earliest. 
  • Bank may, at its discretion, purchase local/outstation cheque tendered for collection at the specific request of the customer or as per prior arrangement. Besides satisfactory conduct of account, the standing of the drawer of the cheque will also be a factor considered while purchasing the cheque.
  • Time Frame for Collection of Local / Outstation Cheques / Instruments- Time frame for collection of outstation cheques drawn on state capitals/major cities/other locations shall be 7/10/14 days respectively.
  • Charges for Collection of Outstation Cheques- The bank will charge Normal/Minimum commission on collection of outstation cheques from time to time subject to maximum limit prescribed as per mentioned in circular/Master Circular by Reserve Bank of India. Additional commission charged to the customers by mistake due to non-computerization of the same in past or during the year/in future, will be reimburse to the customers in next year/in future after calculate/process in computer.
  • If the drawee bank charged commission more than prescribed, the bank may inform to the drawee bank for reimburse the excess charge to the customers. The bank will try best efforts to recover the excess charges. The bank will immediately give credit to the customers once the drawee bank gives refund.        
  • Cheques drawn on foreign countries: Such instruments are accepted for collection on the ‘best of efforts’ basis. Banks may enter into specific collection arrangement with its correspondent bank for speedy collection of such instrument. Bank would give credit to the party on credit of proceeds to the bank’s Nostro Account with correspondent bank after taking into account cooling periods as applicable to the countries concerned.
  • The above time norms are applicable irrespective of whether cheques/instruments are drawn on the bank’s own branches or branches of other banks.
  • Commission/Charges take as per  Board of Directors Resolution passed by  Board of Directors from time to time subject to RBI guidelines.
  • Charging of Interest on cheques returned unpaid where Instant Credit was given- If a cheque send for collection for which immediate credit was provided by the bank is returned unpaid, the value of the cheque will be immediately debited to the account. The customer will not be charged any interest from the date immediate credit was given to the date of return of the instrument unless the bank had remained out of funds on account of withdrawal of funds. Interest where applicable would be charged on the notional overdrawn balances in the account had credit not been given initially.
  • If the proceeds of the cheque were credited to the Savings Bank Account and were not withdrawn, the amount so credited will not qualify for payment of interest when the cheque is returned unpaid. If proceeds were credited to an overdraft/loan account,                                                             

COMPENSATION POLICY

  • Unauthorized/Erroneous Debit: If the bank has raised an authorized /erroneous direct debit to an account, the entry will be reversed immediately on being informed of the erroneous debit, after verifying the position. In the event the unauthorized/erroneous debit has resulted in a financial loss for the customer by way of reduction in the minimum balance applicable for payment of interest on savings bank deposit or payment of additional interest to the bank in a loan account, the bank will compensate the customer for such loss. Further, if the customer has suffered any financial loss incidental to return of a cheque or failure of direct debit instructions due to sufficiency of balance on account of the unauthorized/erroneous debit, the bank will compensate the customer to the extent of such financial losses.
  • In case verification of the entry reported to be erroneous by the customer does not involve a third party, the bank shall arrange to complete the process of verification within a maximum period of 7 working days from the date of reporting of erroneous debit. In case, the verification involves a third party, the bank shall complete the verification process within a maximum period of one month from the date of reporting of erroneous transaction by the customer.
  • ECS direct debits/other debits to accounts – The bank will undertake to carry out direct debit/ ECS debit instructions of customers in time. In the event the bank fails to meet such commitments customer will be compensated to the extent of any financial loss the customer would incur on account of delay in carrying out the instruction/failure to carry out the instructions.
  • RTGS/NEFT- Accounts is debited as per party request in the case of RTGS and accounts is credited in the case of RTGS/NEFT, once confirmation gets from other bank. Charges take as per RBI guidelines.
  • The bank gives to the customers about the details of credit received through NEFT/NECS/ECS. The bank does through HDFC Bank virtual a/c hence the details gives to the customer as per details available from virtual a/c.
  • The bank is not liable if debit/credit in wrong a/c or reject the transaction due to wrong information submitted to the bank by the customer.
  • The bank would debit the customer’s account with any applicable service charge as per the schedule of charges notified by the bank. In the event the bank levies any charge in violation of the arrangement, the bank will reverse the charges when pointed out by the customer subject to scrutiny of agreed terms and conditions. Any consequential financial loss to the customer will also be compensated.
  • Payment of Cheques after Stop Payment Instructions- In case a cheque has been paid after stop payment instruction is acknowledged by the bank, the bank shall reverse the transaction and give value-dated credit to protect the interest of the customer. Any consequential financial loss to the customer will be compensated as provided under as above. Such debits will be reversed within 2 working days of the customer intimating the transaction to the bank.
  • “Payment of Interest for delayed Collection of Outstation Cheques- As part of the compensation policy of the bank, the bank will pay interest to its customer on the amount of collection instruments in case there is delay in giving credit beyond the time period mentioned above.  Such interest shall be paid without any demand from customers in all types of accounts.  There shall be no distinction between instruments drawn on the bank’s own branches or on other banks for the purpose of payment of interest on delayed collection. 
  • Interest for delayed collection shall be paid at the following rates:
  • Savings Bank rate for the period of delay beyond 7/10/14 days as the case may be in collection of outstation cheques.
  • Where the delay is beyond 14 days interest will be paid at the rate applicable to for term deposit for the respective period.
  • In case of extraordinary delay, i.e. delays exceeding 90 days interest will be paid at the rate of the corresponding Term Deposit rate.
  • In the event the proceeds of cheque under collection were to be credited to an overdraft/loan account of the customer, interest will be paid at the rate applicable to the loan account.  For extraordinary delays, interest will be paid at the rate of the rate applicable to the loan account.
  • It may be noted that interest payment as given above would be applicable only for instruments sent for collection within India”.
  • Cheques / Instruments lost in transit / in clearing process or at paying bank’s branch- In the event a cheque or an instrument accepted for collection is lost in transit or in the clearing process or at the paying bank’s branch, the bank shall immediately on coming to know of the loss, bring the same to the notice of the accountholder so that the accountholder can inform the drawer to record stop payment and also take care that cheques, if any, issued by him / her are not dishonored due to non-credit of the amount of the lost cheques / instruments.  The bank would provide all assistance to the customer to obtain a duplicate instrument from the drawer of the cheque.
  • The bank will compensate the accountholder in respect of instructions loss in transit in the following way:
  • In case intimation regarding loss of instrument is conveyed to the customer beyond the time limit stipulated for collection (7/10/14 days as the case may be) interest will be paid for the period exceeding the stipulated collection period at the rates specified above.
  • In addition, bank will pay interest on the amount of the cheque for a further period of 15 days at Savings Bank rate to provide for likely further delay in obtaining duplicate cheque/instrument and collection thereof.
  • The bank would also compensate the customer for any reasonable charges he/she incurs in getting duplicate cheque/instrument upon production of receipt, in the event the instrument is to be obtained from a bank/ institution who would charge a fee for issue of duplicate instrument.  
  • Violation of the Code by banks agent - In the event of receipt of any complaint from the customer that the bank’s representative / courier or DSA has engaged in any improper conduct or acted in violation of the Code of Bank’s Commitment to Customers which the bank has adopted voluntarily, bank shall take appropriate steps to investigate and to handle the complaint and to compensate the customer for financial losses, if any.
  • Force Majeure- The bank shall not be liable to compensate customers for delayed credit if some unforeseen event (including but not limited to civil commotion, sabotage, lockout, strike or other labor disturbances, accident, fires, natural disasters or other “Acts of God”, war, damage to the bank’s facilities or of its correspondent bank(s), absence of the usual means of communication or all types of transportation, etc beyond the control of the bank prevents it from performing its obligations within the specified service delivery parameters.

SERVICE CHARGES

  • The bank approves service charges structure of the bank through Board Resolution passed by Board of Directors from time to time.
  • Charges are fixed be reasonable and compute on a cost-plus basis and not as an arbitrary percentage of the value of the instrument. The service charge structure is not open ended and clearly specify the maximum charges that would be levied on customers including charges, if any, payable to other banks.
  • While sharing service charges, the bank may be follow CIR/RB-I/CCP/64 dated April 8, 2010 issued by the Indian Banks Association.
  • The bank may note to ensure that collection charges fixed for instruments of any value is lower under Speed clearing vis-à-vis Outstation Cheque Collection so as to encourage the use of Speed Clearing.
  • The service charges mandated/fixed by bank are inclusive of all charges (postal, courier, handling etc.) other than service tax.
  • The bank use electronic modes like RTGS/NEFT to remit clearing proceeds to the collecting bank branch availing of Outstation Cheque Collection facility. 

SERVICE AT THE COUNTER

  • Commencement of employee’s working hours 15 minutes before commencement of business hours can be made operative by banks at branches.
  • All the customers who enter the banking hall before the close of business hours will be attended to.
  • To ensure that no counter remains unattended during the business hours and uninterrupted service is rendered to the customers.
  • “Enquiry” or “May I help you” counters will combined with other functions depending upon the requirement.

DEPOSITS AND OTHER ACCOUNTS

  • To educate and convince the customer for taking nomination facility and benefits for the same.
  • To show name, address and telephone numbers in Saving Pass book/statement of accounts with nomination and to educate the customers to keep update passbook/to issue of FDR ongoing basis.
  • To give advisory service regarding all deposit products and either follow the mandate at the time of maturity of term deposit or send intimation of impending due date of the deposit will in advance.
  • To educate the prospective/existing customer regarding bank products through brochures / pamphlets in regional language/Hindi/English giving details of various schemes available and term and conditions thereof.
  • The bank will settle the claims of a missing person after considering the legal opinion and taking into account the facts and circumstances of each case. The bank will keep in view the imperative need to avoid inconvenience and undue hardship to the common person.

SAFE DEPOSIT LOCKERS

  • The bank will not insist to placement of fixed or any other deposit beyond what is specifically permitted. The bank will obtain a Fixed Deposit which would cover 3 year’s rent and the charges for breaking open the locker in case of an eventuality or more if any as per customer’s choice. However, the bank will not insist on such Fixed Deposit from the existing locker-hirers. The bank will follow operational and customer due diligence as per RBI guidelines.

BANKING FACILITIES TO THE VISUALLY CHALLENGED

  • The bank will give the same facility to the visually challenged person as to the normal person. The bank will take care of those people will not suffer due their disability.

DISHONOURED INSTRUMENTS

  • .The bank will ensure that dishonored instrument is returned / dispatched to the customer promptly without delay on the same day but in any case within 24 hours.

IDENTITY BADGES

  • The bank will give identity badge to employees with photograph and name prominently displayed on it.

JOB ENRICHMENT

  • The bank will promote greater involvement of employees in their work and to prevent alienation, job enrichment in the form of periodical change of department and allocation of jobs carrying higher responsibilities.

TRAINING

  • The bank will arrange training programs to bring about positive attitudinal changes compatible to customer orientation.

INDUCTION TRAINING 

  • The bank will give induction training to the new employees after recruitment.

REWARD AND RECOGNITION

  • The bank will formed reward and reorganization policy of the employees on the basis of overall performance of the employee. The reward/recognition scheme of incentive will be tailored with an eye on the ultimate goals of customer service.

SYSTEM AND PROCEDURES

  • The bank will develop system and procedure to assist bank in functioning in an effective and efficient manner and to ensure safety of customer’s money.

CUSTOMER SERVICE AUDIT

  • The bank will do periodically customer service audit and the same will incorporate in inspection/ Audit Department and report. Senior officials will observe and noted customer service during the visiting of the branch. The bank will introduce a system of periodical evaluation on customer service on half yearly basis, as at the end of April and October, with a view to ensuring their implementation at all offices of the bank as also upgrading the quality of services to achieve higher satisfaction among the bank’s customers.

INFRASTRUCTURE PROVISION

  • The Bank will take care about facilities in branch that gives pleasant experience of the customer. The bank will also take care about security of branches as well confidentiality of the customers.

 

 

CUSTOMER EDUCATION

  • The bank will take care to educate customers on continuous basis through advertisement, literature, interface, seminars etc. The bank will involve their employees in all customer education program me.

FAIR PRACTICE CODE

  • The bank will follow all service charges fixed by Board as per Fair Practices Code after considering RBI guidelines ongoing basis. The bank will also educate the customer for the same on continuous basis. The bank shall reimburse to the customers the amount wrongfully, if any, due to ATMs failure to dispense cash within a maximum period of 12 days from the date of receipt of customer complaints.

NOMINATION FACILITIES

  • The bank shall make rule for nomination (rather than an exception) and banks shall endeavor to cover all accounts, existing as well as new, under nomination, exception being the ones where the customer himself would prefer not to nominate.
  • Nomination facilities are available not only for deposit accounts but also for safe custody articles and safe deposit lockers.

DISPLAY OF TIME NORMS/INFORMATION

  • Time norms for specified business transactions display prominently in the banking hall so that it attracts the customer’s attention as well as that of the employees for adherence.
  • In case of special, social or religious occasions, by approval of the Board bank will change its usual timings and display it on the Notice Board of the bank well in advance so as not affect the customer services.
  • The bank would put up in a notice board important aspects or indicators on ‘customer service information’, ‘service charges’, ‘Grievance Redressal’ and ‘others’. The notice board would be updated on a periodical basis.
  • The bank displays information about charges and Rate of Interest taken/payment from customers in its premises as well as posts it on its web-sites, to enable the customer to obtain the desired information at a glance. The same would be display in local languages at the branches.

 

COLLECTION OF ACCOUNT PAYEE CHEQUES

  • The bank will not collect ‘account payee’ cheques for any person other than the payee constituent.

COMPLAINT BOOK

  • The bank will keep complain book in duly prescribed form at every branch.

LEGAL GUARDIANSHIP CERTIFICATE

  • The bank will reply upon the Guardianship Certificate issued either by the District Court under Mental Health Act or by the Local Level Committees under the above Act for the purpose of opening/operating bank accounts. The bank will take care that their branches give proper guidance so that the parents/relatives of the disabled persons do not face any difficulty in this regard.

DUAL DISPLAY NOTE COUNTING MACHINE

  • The bank may install dual display note counting machines at the payment counters of the branches.

GENERAL CUSTOMER SERVICES

  • The bank will give facilities at extension counters as per RBI guidelines. The bank gives facility of acknowledgement of cheques by giving return counterfoil of paying slip with rubberstamp of bank on it to the customer.  The bank will take care that cheque books are printed with due care and the perforation in the cheque leaves as also binding of cheque books are up to the mark. The bank will follow RBI guidelines for issuing of duplicate demand draft. The bank will follow RBI guidelines for statutory provisions for Nomination Facility. The bank will not reject or dishonored the cheques/drafts issued by clients containing fractions of a rupee. The bank will settle the claims in respect of deceased depositors and release payments to survivor(s)/ nominees(s) within a period not exceeding 15 days from the date of receipt of the claim subject to the production of proof of death of the depositor and suitable identification of the claims(s). The bank provides RTGS, NEFT and e-payment facilities to valuable customers through HDFC Bank, Kotak Bank, Axis Bank, ICICI Bank and IDBI Bank Ltd or decided by the BoD as when required. The bank provides the facility of stamp franking at H.O. / branches.

REVIEW OF THE POLICY

  • The policy will be reviewed as and when felt necessary by the Board.