Of the 51 banks in India, only 12 banks are rated 'high' for complying with Banking Codes and Standards Board of India (BCSBI) codes, which focus on fair treatment of customers. Among the banks that scored high rating include RBL Bank, Axis Bank, HDFC Bank, DCB Bank, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Yes Bank, Standard Chartered Bank, HSBC and Citibank. RBL Bank's score was highest at 95. Of the 12 banks rated 'high', only one public sector lender, IDBI Bank, featured in the list.
BCSBI is an independent body set up by the RBI. Its objectives are to promote good banking practises, setting minimum standards, increasing transparency, achieving higher operating standards and promoting a cordial banker-customer relationship. The annual code compliance ratings have been released by BCSBI.
"Although private and public sector banks secured a score of 'above average to high' and 'average to above average' respectively, there was a marginal decrease in the overall average score of banks to 77 in the fiscal 2017, from 78 in the fiscal 2015," the report said.
Banks were rated on their fair banking practises based on five broad categories -- information dissemination, transparency, grievance redressal, customer centricity and customer feedback. Some additional feedback was also taken from 8,485 banking customers across the country.