Please refer to CPD Circular No.4 of 2014 where all banks were advised to develop and implement their own Fair Treatment of Consumers (FTC) Framework, duly approved by their BODs by July 1, 2015.
While promoting concept of responsible banking, a Conduct Assessment Framework (CAF) after test run is being formally introduced for self assessment by the banks. The purpose to quantify conduct is to develop a periodic, reliable, diagnostic and comparable mechanism which will help banks to deliver their commitment to FTC in an optimum manner and manage their Conduct Risk.
Banks/MFBs are advised to adopt the attached CAF from 1st January 2017 and will be required to undertake its assessment as of 31st December on an annual basis. The said annual assessment duly approved by BoDs will be submitted to Director, Banking Conduct and Consumer Protection Department latest by 31st March every year as per the format available at Annexure -A and B.
Please acknowledge receipt.
Enclosures:
Annexure - A (Conduct Assessment Framework)
Annexure - B (Rating Sheet)