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CICS, BCSBI & Fair practice code

Customer Information control system (CICS)

  • Customer information control system (CICS) is online transaction processing (OLTP) system provide online transaction and connectivity, together with COBOL programming, from IBM mainframe server under z/OS and z/VSE.
  • CICS is a middleware interface. It acts between the operating system and application programs to support rapid and high volume transaction. 
  • By the CICS provided API (application programming interface), A programmer can communicate with a user and read from or write customer. 
  • Like other transaction processing system CICS can ensure that transactions are completed, for incomplete transaction CICS can undo the records to maintain the integrity.
  • CICS is widely used by many financial companies like banks, insurance companies. Many fortune 500 companies use CICS along with government entities. CICS is used by many smaller organisations, Bank teller applications, insurance applications, ATM systems, industrial production control systems, and many other types of interactive applications.
  • CICS transaction server recently upgraded for web service and Java, Event processing, Atom feeds, and RESTful interfaces. 

Banking Code and Standards Board of India (BCSBI)

The Banking Code and Standards Board of India is an independent and autonomous body that protects consumer’s interest and benefits in the banking industry of India. BCSBI was organised to make sure that a consumer of the financial industry from the banking service is in no way at an unfavourable position and really gets what he/she has been promised. 
Formed: BCSBI registered as an autonomous society under the Societies registration act 1860, on February 18, 2006.
Headquarters: Mumbai, Maharashtra.
Chairman: A C Mahajan
Members: 59 scheduled commercial banks, 54 RRBs, 11 urban co-operative banks, as of February 2013.
Governing Body: The board is governing by a 6 member council including one chairman.

Objectives:

  • BCSBI prepare, plan, develop, promote and publish complete Codes and standards for banks, so all bank customers get fair treatment from their banks.
  • BCSBI act as an independent and autonomous entity to monitor, and make sure that the Codes and Standards acquire by banks are maintained properly while providing services to their customers.
  • .BCSBI undertake research of Codes and Standards recently in use around the world and conduct them properly.
  • BCSBI and banks jointly train bank employees about the Codes.
  • BCSBI also help people affected by natural calamities.

Methods of monitoring:

  • Collects an Annual Statement of Compliance (ASC) from every member banks.
  • Visits every branch to check out the status of ground implementation of Codes and standards.
  • Conduct an annual conference with principal code compliance officer of the member banks to discuss implementation methods. 

Fair Practice code

A voluntary code has drafted and circulated by The Indian Banks’ Association (IBA) which is known as Fair practice code. This Code sets the standards for fair practice standards when dealing with individual customers. During dealing with customers the Fair Practice Code provide valuable guidance to Banks and setting higher standards in banks dealings with customers and promotes competition and market forces.
This fair practice code applicable to some categories bank’s services such as:
  • Deposit account – Time and Demand 
  • Collection and remittance service
  • Any kind of loan
  • Payment Cards
  • Foreign exchange service
The implementation of fair practice code is the responsibility of the whole organisation. Every Bank will also communicate their Fair Practice Code to their customers by placing it on the bank’.

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