Question

    What does acronym BCSBI stand

    for?
    A Banks Committee & State bank of India Correct Answer Incorrect Answer
    B Banking Committee & Standard board of India Correct Answer Incorrect Answer
    C Banking Code & Standards Board of India Correct Answer Incorrect Answer
    D Banking Commission & Supervisory Board of India Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    This is a Code, which sets minimum standards of banking practices for banks to follow when they are dealing with Micro and Small Enterprises (MSEs) as defined in the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. It provides protection to you and explains how banks are expected to deal with you for your day to- day operations and in times of financial difficulty. The Code does not replace or supersede regulatory or supervisory instructions issued by the Reserve Bank of India (RBI) and we will comply with such instructions /directions issued by the RBI from time to time. The provisions of the Code may set higher standards than what is indicated in the regulatory or supervisory instructions and such higher standards will prevail, as the Code represents best practices agreed by us as our commitment to you.

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