RBL Bank Limited Registered Office: Shahupuri, Kolhapur 416 001 Controlling Office: One Indiabulls Centre, Tower 2, 6th Floor, 841 Senapati Bapat Marg, Lower, Parel, Mumbai 400 013 PREFACE CITIZENS CHARTER The ability of the banking industry to achieve its socio-economic objectives and in the process bring more and more customers into its fold will ultimately depend on t he satisfaction of the customers. We at RBL Bank Limited ( the Bank ) strongly believe that a satisfied customer is the most important factor in the success of our business We understand that in order to be more customer friendly the Bank should come out with a charter of its services offered to customers. This document basically highlights the bank s commitment towards customer satisfaction, thereby ensuring overall accountability and responsibility amongst the bank officials and staff. This charter for customers not only explains our commitment and responsibilities along with the redressal methods but also specifies the obligations on the part of customers for healthy practices in customer-banker relationships. This is not a legal document creating rights and obligations. The charter has been prepared to promote fair banking practices and to give information in respect of various activities relating to customer service. We also wish to acknowledge the guidance provided by the Reserve Bank of India and the Indian Banks Association to help us bring out this charter. In addition to the above, we also regularly interact with our customers and seek their feedback to evaluate, improve and widen the range of services provided by us. All our customers are requested to share their experiences from time to time about the services offered and feel free to comment on this charter. Mumbai, August 29, 2012 Vishwavir Ahuja Managing Director & CEO NOTE Information given in this charter pertains to RBL Bank as of the date mentioned herein above and is subject to change/revision from time to time. Only key information on va rious services/ facilities provided by the Bank is mentioned in this document. Each service has its own terms and conditions, which are displayed on our website www.rblbank.com. For further details, please visit the Bank s website or call on t he phone banking numbers or visit the nearest RBL Bank Branch. 1
Common Practices Followed By Our Branches: Display business hours. Render courteous services Attend to all customers present in the banking hall at the close of business hours. Provide separate May I Help You counter at our branches. Offer nomination facility to all deposit accounts (i.e. account opened in Individual capacity) and all safe deposit lockers holders (i.e. individual holders) Display of interest rates of various deposit schemes from time to time. Notify change in interest rates on advances. Provide details of various deposit schemes/ services of the Bank. Issue Demand Draft, Pay orders etc. Display of time norms for various banking transactions. Payment of interest for delayed credit of outstation cheques as per banks policy. Accord immediate credit in respect of outstation cheques up to a specified limit subject to certain conditions, as per Bank s Cheque Collection Policy. Provide complaints/suggestions box in the bank premises. Display address of Branch as well as Nodal Officer dealing with customer grievances/complaints. Fair Banking Practices: Customers are requested to: Ensure safe custody of cheque book and account statements. Preferably use reverse carbon while writing the cheque. Issue crossed/account payee cheques as far as possible. Check the details pertaining to the cheque the date, amount in words and figures, crossing before issuing the cheque etc. As far as possible, issue cheques after rounding it off to the nearest rupee. Avoid issuing cheques without adequate balance- Maintain the average monthly/quarterly balance depending upon the account type Send the cheques and other financial instruments by registered post or courier. Bring pass book while withdrawing cash from savings bank account through withdrawal slip. Get the pass books updated from time to time. Use the nomination facility. Keep safely their account numbers, locker numbers, fixed deposit numbers, debit cards, account statement, net banking kit, pins etc. Inform change of address, telephone/cell number to the branch Inform loss of demand draft, fixed deposit receipt, cheque leave (s)/book, ATM card, debit card, key of locker, etc., immediately to the Branch. Avail the standing instruction facility for repeat transactions. Provide feedback on the services from time to time. Pay the interest, instalments, locker rent and other dues on time. 2
Avail the services of ATM, ECS, EFT, etc., offered by the branch. Not to sign on bl ank cheques and also not to record your specimen signature either on passbook or cheque book. Avoid sharing pins of phone/internet banking/atm/debit card with others. Not to introduce any person who is not personally known to you for the purpose of opening account. Bring any deficiency in services to the notice of the branch. Common Areas of Customer Banker Relationship I. Savings Bank Account: These accounts are designed to help the individuals (personal customers) to inculcate habit of saving money and to meet their future requirement of money. The amounts can be deposited /withdrawn from these accounts by way of cheques/withdrawal slips/atm card / Debit card. It helps the customers to keep minimum cash at home besides earning interest. Savings Bank accounts are very popular. These accounts can be opened by eligible person/s and certain organisations/agencies (as approved by the Reserve Bank of India). As required by law, while opening this account we will satisfy ourselves about the requirements of the KYC policy guidelines as applicable, including the identity, verification of address, of a person/s seeking to open an account, to assist in protecting the prospective customer/s, members of the public and ourselves against fraud and other misuses of the banking system. The Bank may require a satisfactory introduction of the person/s opening the account by a person acceptable to the Bank and/ or relevant documents required for identification of the person(s) opening the account. The Bank is required to obtain one recent photograph of the person/s opening the account as per R.B.I directives. As per the provisions of S.139A of the Income Tax Act, 1961, while opening an account, the Bank is required to obtain Permanent Account Number (PAN) of the person(s) opening the account. In the absence of PAN, the Bank should obtain a declaration in Form No. 60 or 61 as the case may be from the person/s opening the account. The Bank will provide to the prospective customers, details of the documents required for identification of the person/s opening the account. A list of documents is available on the application form which is available at our branches and also on t he website www.rblbank.com The account holder is required to maintain certain minimum quarterly balance in the account, as specified by the Bank from time to time. Non-compliance of this would attract service charges. Cheques, dividend warrants drawn in the name of account holder/s will only be collected through this account. Financial Instruments endorsed in favour of the account holder/s will not be collected through savings bank account. Account holders must not use these accounts for business transactions. 3
II. Current Account: Current accounts can be opened by individuals/partnership firms/private and public limited companies/huf/specified associates/societies/trusts, etc. As required by law, while opening this account we will satisfy ourselves about the requirements of the KYC policy guidelines as applicable, including the identity, verification of address, of a person/s seeking to open an account, to assist in protecting the prospective customer/s, members of the public and ourselves against fraud and other misuses of the banking system. The Bank may require a satisfactory introduction of the person/s opening the account by a person acceptable to the Bank and/ or relevant documents required for identification of the person(s) opening the account. The Bank is required to obtain one passport sized photograph of the person/s opening /operating the account. As per the provisions of S.139A of the Income Tax Act, 1961, while opening an account, the Bank is required to obtain Permanent Account Number (PAN) of the person(s) opening the account. In the absence of PAN, the Bank should obtain a declaration in Form No. 60 or 61 as the case may be from the person/s opening the account. The Bank will provide to the prospective customers, details of the documents required for identification of the person/s opening the account. The list of document is available on the application form which is available at our branches and also on the website www.rblbank.com Current Account customers need to maintain a minimum monthly balance (AMB/TRB) on the basis of their choice of account. The details of balance required to be maintained are available on our website www.rblbank.com For opening special types of current accounts like for Executors, Administrators, Trustees, Liquidators etc., please contact our nearest branches for details regarding opening of these accounts. No interest in paid on the credit balances kept in the current account. Term Deposit Accounts: The Bank has tailored various deposit schemes to suit the needs and expectations of investing people in every walk of life. The branch staff shall welcome you to seek more details and shall also be glad to assist in the area of investment in various deposit schemes vis-à-vis your requirement. The term deposit accounts can be opened by individuals, partnership firms, private and public limited companies, HUFs/specified associates, etc. As required by law, while opening this account we will satisfy ourselves about the requirements of the KYC policy guidelines as applicable, including the identity, verification of address, of a person/s seeking to open an account, to assist in protecting 4
the prospective customer/s, members of the public and ourselves against fraud and other misuses of the banking system. The Bank may require a satisfactory introduction of the person/s opening the account by a person acceptable to the Bank and/ or relevant documents required for identification of the person(s) opening the account. The Bank is required to obtain one recent passport sized photograph of the person/s opening the account. As per the provisions of S.139A of the Income Tax Act, 1961, while opening an account, the Bank is required to obtain Permanent Account Number (PAN) of the person(s) opening the account. In the absence of PAN, the Bank should obtain a declaration in Form No. 60 or 61 as the case may be from the person/s opening the account. The Bank will provide to the prospective customers, details of the documents required for identification of the person opening the account. Premature withdrawals are allowed, unless specified otherwise, at the rate of interest applicable for the period for which the deposit has run or the contracted rate whichever is lower, subject to penalty, if any, prescribed by the Bank. No interest will be paid on premature withdrawals of deposit which has remained with the Bank for less than the minimum period for which deposits were being accepted, for the currency and deposit type, as on the date of placement of deposit. Generally loans/overdrafts against deposits are allowed except on certificates of deposit (CD). Such loans are sanctioned by charging interest at rates directed by RBI from time to time or as prescribed by the Bank. Deposits are renewed by the Bank on du e dates on r equest. As a measure of good customer service, the Bank may intimate the depositor in advance regarding the date of maturity. Interest shall be calculated at quarterly intervals on term deposits and paid at the rate decided by the Bank depending upon the period of deposits. In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted value. The interest on t erm deposits is calculated by the Bank in accordance with the formulae and conventions advised by Indian Banks Association Interest on overdue deposit is paid if the deposit is renewed, as decided by the Bank from time to time. Interest for resident individuals on ba nk deposits is exempt from income tax up t o a specified limit by the Income Tax authorities from time to time. Presently, if the total interest on deposits, per depositor, per branch, per financial year exceeds Rs.10000/-, the same is subject to tax deduction at source (TDS) at the rates stipulated by the Income Tax Authorities. The Bank will issue TDS certificate for the tax deducted. Account holders are required to furnish their PAN to the bank, failing to which interest on term deposit would be liable for TDS at higher rates, as per the requirements of the Indian Income Tax Act 1961. The depositor may furnish declaration in Form No.15G/15H at the commencement of the financial year for receiving interest on deposits without deduction of tax. The Bank will issue TDS Certificate for the tax deducted 5
Interest on Deposits: The Bank pays interest on deposits as per various deposit schemes. Interest rates are revised from time to time and made known to public. Revised interest rates are applicable only to the renewals and fresh deposits while existing deposits continue to get interest at the contracted rate. Payment of Balance in accounts of the deceased customers to survivors/claimants: The Bank may not insist on s uccession certificate from legal heirs irrespective of amount involved. However, the banks may adopt such safeguards in considering settling of claims as appropriate including an indemnity bond. Standing Instructions: Standing instructions can be given to the Bank for transfer/remittance of funds from one account to another account maintained in the same branch, any other Branch of the bank or any other bank or any other third party. Safe Deposit Lockers: The facility of safe deposit lockers is an ancillary service offered by the Bank at select branches. The Bank s branches offering this facility will indicate/display this information. The major aspects governing the services are: A locker may be hired at the Bank by an individual (not being a minor), firms, limited companies Nomination facility is available to individual hirer of safe deposit locker. Loss of key should be immediately informed to the Branch. Lockers are available in different sizes. Lockers are rented out for a minimum period of one year. Rent is payable in advance. In case of overdue rent, the Bank will charge penalty as may be decided it from time to time. With standing instruction, the rent may be paid from the deposit account of the hirer. The Bank will hire locker only if the required documents for identification and other required documents are provided. The Bank reserves the right to break open the locker, if the rent is not paid in spite of giving notices as per the Bank rules and recover charges thereof. 6
Nomination: Nomination facility is available for all deposit accounts and safe deposit vaults. Nomination is available for accounts opened in individual capacity (i.e. single/joint accounts as well as accounts of a sole proprietary concern) only, i.e. not for accounts opened in representative capacity. Nomination can be done in favour of one individual only. Nomination can be made, cancelled or varied by the accountholder any time during his/her lifetime. While making nomination, cancellation or variation, witness is required and the request should be signed by all accountholders. Nomination can be made in favour of a minor also. For the existing accounts where nomination is not made, the accountholder/s can do so by filling up form available with the branches. Customers (new as well as existing) are advised to avail nomination facility, if they have not availed so far. Remittance Service: Customers may remit funds from one centre to another centre by Demand Draft, Telegraphic Transfer (TT), etc., by paying specified charges as per the Bank s rules. The customers can utilise the facility of Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) System, etc. operated through RBI for transferring funds to and from other centres. Demand Drafts and Telegraphic Transfers for Rs. 50,000/- and above will be issued by the Bank only by debit to the customer s account. Similarly, payment towards such instruments of Rs. 50,000/- and above will be made through banking channels and not in cash. Cashier s Order (i.e. Pay Order, Banker s Cheque) Cashier s Order is issued for making payment locally. Issue/payment of Cashier s Order for Rs.50000/- and above is to be made only through the bank account. Validity period of Cashier s Order is 3 m onths. This can be revalidated by the issuing branch on written request of the purchaser along with the original instrument. Issue of duplicate Demand Draft without receipt of non-payment advice The Bank will issue duplicate demand draft on the customer s request on the basis of adequate indemnity and sufficient validations from the customer, as the Bank may specify from time to time. Timeframe for issue of duplicate Demand Draft The Bank will issue duplicate demand draft to the customer within a fortnight from the date of receipt of request. For delay beyond the above stipulated period, interest at the rate applicable for fixed deposit of corresponding period will be paid as compensation to the customer. 7
Cheque Collection Service: Branches / extension counters of the Bank will consider providing immediate credit for outstation cheques / instruments, tendered for collection by individual account holders, up to the amount stipulated in the Bank s Cheque Collection Policy, subject to satisfactory conduct of such accounts for a period of 6-12 months. Immediate credit will be provided against such collection instruments at the specific request of the customer or as per prior arrangement. The facility of immediate credit would also be made available in respect of local cheques at centres where no formal clearing house exists. Local Clearing All cheques and other Negotiable Instruments payable locally would be presented through the clearing system prevailing at the centre. Cheques deposited at branch counters and in collection boxes within the branch premises before the specified cut-off time will be presented for clearing on the same day. Cheques deposited after the cut-off time and in collection boxes outside the branch premises including off-site ATMs will be presented in the next clearing cycle. National Clearing: Cheques drawn on other banks at outstation centers other than those covered under Local clearing, will normally be collected through bank s branches at those centers. Where the bank does not have a branch of its own, the instrument would be directly sent for collection to the drawee bank or collected through a correspondent bank. The bank would also use the National Clearing services offered by the Reserve Bank of India at centers where such collection services exist. Cheques drawn on ba nk s own branches at outstation centers will be collected using the inter-branch arrangements in vogue. Branches which are connected through a centralized processing arrangement and are offering anywhere banking services to its customers will provide same day credit to its customers in respect of outstation instruments drawn on any of its branches in the CBS network. Speed Clearing: Outstation cheques drawn on banks participating in speed clearing at specified locations will be collected and treated at par with and as if they were local cheques. All terms and conditions applicable for local clearing instruments will also apply to speed clearing. Exchange of Soiled Currency Notes: The Bank accepts soiled notes from customers for exchange. RBI has permitted the banks to exchange mutilated currency notes which are genuine and where mutilations are such as not to cause suspicion or fraud. 8
Service Charges: The Bank provides various services to customers for which service charges are levied. The charges are reviewed / revised from time to time. Service charges are levied for collection and remittance of funds, processing of loan proposals, issue of guarantees, safe custody, issue of duplicate instruments/statements, etc. Details of service charges will be made available on request. Details are also available on t he Bank s website / displayed on notice board at branches. Time Norms for Various Banking Transactions: The following transaction time norms are indicative and are subject to change depending upon the volumes handled by each branch/location, Peak/Non Peak period and ticket size of each transaction. These also depend on the customers meeting requirements to execute the transactions. The time norms may vary slightly from branch to branch. This also depends upon the customer meeting requirement to execute the transaction. Cash Payment Receipt of Cash 8 To 15 Minutes 10 To 20 minutes (Depending upon denomination of notes) Issuance of DD/PO/Term Deposit Receipt Payment of Term Deposit Receipts Updating of Pass Book 15 to 25 minutes 15 to 20 Minutes 5 to 15 minutes (For a few entries) Savings Account Opening (Form Filling) Collection of Cheque 20 to 25 Minutes Local- 2 to 3 days Outstation- 10 to 14 days Statement of Accounts 5 To 10 Minutes 9
Additional information: Foreign Exchange Services The Bank offers a range of Foreign Exchange Products and Services to all customers, through its select branches. All Foreign Exchange transactions are conducted subject to Rules and Regulations under the Foreign Exchange Management Act, 1999 (FEMA) Details of the exchange rates and charges which will apply to various foreign exchange transactions are available at branches. Cross border payments will be made subject to the provisions of the applicable FEMA Regulations from time to time. Mutual Funds A pool of funds collected from many investors that are invested in securities such as stocks, bonds, money market instruments and similar assets. Systematic Investment Plan (SIP) A Systematic Investment Plan (SIP) is a method of regularly investing a fixed sum in a Mutual Fund Scheme. This could be of different periodicities though monthly SIPs are most common. Demat A depository account facilitates holding of securities in dematerialized/electronic form for the depository account holder. Loans The Bank offers following loans/advances Home Loans. Loans against Property Business Loans Car Loans. Home Loans Loans up to Rs.10 Crores. Loan tenure of up to 25 years for salaried customers subject to age criteria. Loan tenure of up to 20 years for self-employed professionals and individuals in business, subject to age criteria. Option to choose between Floating Interest Rate and Fixed Interest Rate (maximum fixed term of 3 years only). 10
Loans against Property Loans against property up to Rs. 10 Crores. Loan tenor of up to 15 years for salaried, self-employed professionals & businessmen. Attractive Floating Interest Rate. Business Loans Unsecured EMI based Loan with no collateral requirement Loans up to Rs. 35 lacs Maximum repayment tenure of 36 months Only self-employed professionals & businessmen can get a Business Loan Attractive interest rates Car Loans Car loans up to Rs. 30 lacs. Loan for cars ranging from Small & Compact cars to super premium cars, SUVs and MUVs. Loan tenure of up to 5 years for salaried, self-employed professionals & businessmen. Finance for ex-showroom value of the car + VAT + Insurance The Terms and Conditions for each type of loan will be intimated before the loan is disbursed. All KYC (Know Your Customer) norms pertaining to loan/advances are required to be complied with before disbursing any loan. Loan disbursal will be subject to various credit parameters and will be extended at the sole discretion of the Bank. To know more about these products and avail the same you can visit any of the branches of the Bank, make enquiries on the Phone Banking or place your query on the Bank s website. 11
Alternate delivery Channels: Internet Banking The Bank offers Internet Banking facility to its Retail & Corporate customers. These facilities are compliant with all the norms and regulations laid down by the regulator from time to time. The customers can use various transfer types to transfer money to individuals and Non- Individuals. Transfer types available online are Own Account Transfer, Third Party Transfer with in RBL Bank, NEFT and RTGS. Value added services such as accessing, D ownloading & Printing Statements and making Tax & bill payments through Internet banking. Customers can also register their grievance on the Bank s website. Payment gateway transactions - Transact with top merchants all over the country, covering categories like Apparels, Hotels, Matrimony, Astrology, Gifts, Florists, Electronics, Top-Ups, Tax Payments etc. Hassle free Indirect Tax Payment solutions Mobile Web Banking Mobile Web banking is a f acility where customer can bank with us anytime, anywhere using Mobile handsets. The service is available 24/7, 365 da ys a year. This platform provides convenience of banking without visiting our branches. Services that can be availed by customers on mobile banking platform include: Check Account summary Check last 10 transactions Own account transfers Third Party Transfers&NEFT & RTGS transfers Cheque status enquiry (issued cheque). All you need to have is a GPRS enabled Handset &a compatible browser. SMS Banking SMS Banking facility offers non-financial inquiry / request based transactions through SMS. Customers can obtain details of additional benefits and features from the Bank s branches, website or phone banking, as and when the same are enhanced and updated. Services that can be availed by customers on mobile banking platform include: 12
Balance Inquiry for Savings and Current Accounts Enquiry on Fixed Deposit & Loan balances Last 5 Transaction details Cheque Status Inquiry ATM Pin Generation Temporary& permanent blocking of Card Unblocking of temporarily blocked Card Phone Banking The Bank offers Phone Banking facility to Personal Banking customers. Details of various products and services offered by the Bank can be obtained through the phone banking channel. Bank responds to customer queries related to customer account(s) held with the Bank, subject to verification of customer identity. Customer complaints can also be registered on phone banking for redressal of the same. Domestic / International Debit Card The Bank offers four variants of Domestic Debit Card, (i.e. Visa Classic, Visa Platinum, RuPay Debit card & RuPay Kisan Card.) The Bank offers two variants of International EMV Chip Debit Card, (i.e. Visa Classic & Platinum EMV chip debit card.) Customer can use the card for shopping at Merchant Location and also Online, by using Verified by Visa Service The Bank offers exclusive Concierge service around the world for Platinum Card holders. Bank offers the convenience to the customer to set their desire debit card PIN post receipt of card by just sending SMS in Specified format to 9223366333 Bank also offers other convenience like Regeneration of PIN, Permanenthot listing / Blocking of card, temporary blocking of card & unblocking of temporary block card through SMS where customer need to send SMS in Specified format. ATMs RBL bank customers can carry out the following transactions at its ATMs: Cash Withdrawal Fast Cash Balance Inquiry Funds Transfer within own accounts 13
PIN Change Mini Statement Cheque Book Request Statement Request Bank is a member of NPCI Rupay network and allows following transactions to Rupay Member Bank Customers: Cash Withdrawal Balance Inquiry PIN Change Mini Statement Bank allows following transactions to Discover card holder (i.e. international transaction on NPCI Network) Cash Withdrawal Bank is a member of VISA network and allows following transactions to VISA Member Bank Customers: Cash Withdrawal Balance Inquiry Redressal of Complaints: Grievance Redressal Process The Bank aims to offer best in class service to its customers. If the Bank falls short of customer expectations in its service delivery, customers are requested to voice their feedback, grievance and suggestions through the Bank s clearly defined Grievance Redressal Process. First Level At the first level, customers are required to register their complaint with the Branch Manager, or speak to the phone banking executives regarding the same. They can also contact the Bank through its website and record their grievance. Customers are provided a reference number for their complaint. A response is provided within 10 days. 14
Second Level If the customer doesn t find the Bank s response satisfactory, the complaint can be escalated to the Regional Nodal Officer of the Bank. The Regional Nodal Officer responds within 10 days Third level If the reply provided by the Regional Nodal Officer fails to address the customer s issues, the complaint can be escalated to the Principal Nodal Officer of the Bank at the final level. The Principal Nodal Officer will respond within 10 days. Name and contact details of the Regional Nodal Officers (RNO) of the Bank Escalation to Banking Ombudsman If the customer does not receive any response within one month from the date the Bank first received the complaint or if the customer is not satisfied with the Bank s final response, the complaint can be escalated to the Banking Ombudsman, a statutory body appointed by the Reserve Bank of India under its Banking Ombudsman Scheme, 2006, to look into the provision of satisfactory service by banks. Brief details of the Banking Ombudsman Scheme are as follows: Reserve Bank of India has appointed an Ombudsman, who can be approached for redressing customer grievances if they have not already been redressed by the Bank. The salient features of the Scheme are as follows and the following conditions will apply before the Ombudsman can be approached for escalation of complaint: The complainant, before making a complaint to the Ombudsman, had made a written representation to RBL Bank, and the Bank had either rejected the complaint, or the complainant had not received a reply within a period of one month after the complaint was received by the Bank, or the complainant was not satisfied with the reply given by the Bank. The complaint is made not later than one year after the complainant has received RBL Bank s reply to his/her representation or, where no reply is received, not later than one year and one month after the date of the representation to the Bank. The complaint has not been settled by the Ombudsman in any previous proceedings. The complaint is not the subject matter of proceedings before any court, tribunal, arbitrator or any other forum. The complaint is not frivolous or vexatious in nature. 15
The complaint is made before the expiry of the period of limitation prescribed under the Indian Limitation Act, 1963 for such claims. The code of Bank s Commitment to Customers was released by the Banking Codes and Standards Board of India (BCSBI) in July 2006 which was subsequently revised in 2009. R BL Bank is a member of BCSBI. Anonymous complaints will not be entertained. All the services and commitments are honoured without the citizens having to pay any bribe. Last updated on June 2015. 16