Karnataka - Mangalore   

Follow ethics, ombudsman tells bank officials

By Our Staff Correspondent

MANGALORE, DEC. 4. The banking ombudsman for Karnataka, S.K. Mukerjee, has called upon bankers to stick to business ethics, as non-compliance would lead to fraud in the banking sector.

Mr. Mukerjee was addressing bank officials at the Kanara Chamber of Commerce and Industry (KCCI) here on Friday. He said that if the banking sector followed "business at any cost and profit by any means" attitude it might lead to fraud.

Order

He said that with the country opening itself to liberalisation, banking sector was witnessing a sea change. Bank officials had to lure customers and provide customer centric service. Following the "do something" principle to increase business was dangerous and bank officials should keep the interest of the depositors, customers and the long-term interest of the bank in mind, he added.

Mr. Mukerjee suggested bank officials to settle the grievances and disputes between banks among themselves and approach the ombudsman as a last resort.

He urged the bank officials not to give scope for his office to pass an order in settling grievances, as they might damage the bank's reputation.

Code of conduct

He said that each bank should have its own code of conduct, which should be made known to customers. Many customers did not know the availability of the banking ombudsman. The Reserve Bank of India (RBI) through the Indian Bank Association (IBA) had directed all the banks to display a board giving details about the ombudsman at all the branches. The board should compulsorily contain the name of the ombudsman and his contact address, he added.

Due to the ignorance about the availability of the ombudsman service, very few customers from semi-urban and rural areas registered their complaints in the State. Most of complaints were from customers in Bangalore, Mysore, and Mangalore, he said.

Mr. Mukerjee said that fifty per cent of the complaints received were rejected, as they did not come under the purview of his office. Of the remaining fifty per cent, 47 per cent were settled through negotiation and conciliation. He also said that an order was passed only for three per cent of the complaints.

Printer friendly page  
Send this article to Friends by E-Mail

Karnataka

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Obituary | Updates: Breaking News |

Stories in this Section

Good response to mock drill at factory
Follow ethics, ombudsman tells bank officials
Two cases of power theft detected
Woman killed in accident; husband hurt
Kannada meet at Moodbidri on December 12
Anganwadi centre burgled
Engagement

Copyright © 2004, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu