Penalties for Deficiency in Customer Service
The Reserve Bank of India has issued a Master Direction outlining a scheme of penalties for bank branches and currency chests that fail to provide adequate customer service to the public.
The penalties are categorized based on the nature of the irregularity and the denomination of notes and coins:
Penalties:
For notes in denomination up to ₹50: [penalty amount]
For notes in denomination of ₹100 & above: [penalty amount]
For coins in all denominations: [penalty amount]
Operational Guidelines
The Competent Authority is responsible for determining the nature of the irregularity.
An Appellate Authority has been established to hear appeals within one month from the date of debit.
Chat with the Master Direction: