Out of 51 banks existing in the country, only twelve banks were rated ‘high’ for providing best customer services by the Banking Codes and Standards Board of India (BCSBI). The select banks were rated based on their compliance with the banking codes determined by BCSBI.
The rating included both private and public sector banks, and foreign and urban cooperative banks. The categories chosen for rating the banks included – grievance redressal, customer centricity, transparency, information dissemination and customer feedback.
The following banks scored highest rating in the recent survey – IDBI Bank, Axis Bank, RBL Bank, IndusInd Bank, Kotak Mahindra Bank, HDFC Bank, Yes Bank, ICICI Bank, DCB Bank, HSBC Bank, Standard Chartered Bank and Citibank. Out of all banks, IDBI Banks was the only public sector lender to get the ‘ high’ rating. And, among all the banks, RBL received the highest score of 95.
BCSBI, being an independent body set up the Reserve Bank of India, aims to promote customer friendly banking practices in India. It has done so by setting up higher operating standards in banks with increased efficiency and transparency. It also took additional feedback from nearly 8,485 banking users nationwide.