RBI advises Banks to appoint Internal Ombudsman on 11th May-15

The Reserve Bank of India has advised all public sector banks and some private sector and foreign banks to appoint an internal ombudsman. The internal ombudsman would be designated Chief Customer Service Officer (CCSO), it has stated. The CCSO should not have worked in the bank in which he/she is appointed as CCSO. The Reserve…

Card Payments – Relaxation in requirement of Additional Factor of Authentication for small value card present transactions

RBI/2014-15/601 DPSS.CO.PD.No.2163/02.14.003/2014-2015 May 14, 2015 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Authorised Card Payment Networks Madam / Sir Card Payments – Relaxation in requirement of Additional Factor of Authentication for small value card present…