Regulatory Disclosure

KYC for Banking Customer

as per the Master circular 'RBI/ 2009-10/73; DBOD. aML. BC. No. 2/14 .01.001/2009-10' dated July 1, 2009 issued by Reserve Bank of India (RBI) on KYC norms (Know Your Customer), it is mandatory for all banks to periodically update customer identification documents for accounts held by them. In this regard, customers of IndusInd Bank Ltd. are hereby requested to visit the nearest IndusInd Bank branch to know the status of their account and the documents required to be submitted.

Code of Commitment

The Banking Codes and Standards Board of India (BCSBI) was set up in 2006 and had released first ‘Code of Bank's Commitment to Customers' in 2006. The 'Code of Bank's Commitment to Customers' was later revised in 2009 and 2014 and it was adopted by IndusInd Bank Ltd being a member of the BCSBI. The Code has been further revised in 2018. The code provides to evolve a comprehensive Code of Conduct for fair treatment to you and to monitor its adherence and it also provides protection to you and explains how the Bank has to deal with you in day-to-day banking operations. While the set minimum standards are guaranteed, we will always endeavour to exceed them and give you pthe best service possible. To view the Code of Bank’s Commitment to Customers – January 2018, please click any of the below language choices:

Bank's Commitment to Micro and Small Enterprises

Your Bank is a member of BCSBI and has adopted the Code of Bank's Commitment to Customers (individuals) which is a voluntary Code, which sets minimum standards for fair and transparent treatment of customers availing banking services. Similarly "Code of Commitment to Micro and Small Enterprises" is also a voluntary Code, which sets minimum standards of banking practices for banks to follow when they are dealing with Micro and Small Enterprises as defined in the Micro Small and Medium Enterprises Development (MSMED) Act, 2006. It provides protection to MSE customers and explains how banks are expected to deal with customers in day-to-day operations and in times of financial difficulty. As a member of BCSBI, your Bank has adopted "Code of Commitment to Micro and Small Enterprises" with all the provisions.

Grievance Redressal

RBI Notifications

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Cheque Truncation System

Prohibiting alterations/ corrections in cheques presented through Cheque Truncation System (CTS) Reserve Bank of India in order to identify and control fraudulent alterations on cheques has issued guidelines that no changes/ corrections should be carried out on the cheques (other than date validation purposes, if required). For any change in the payee's name, courtesy amount (amount in figures) and legal amount (amount in words) etc., fresh cheques should be used by customers. Important Note: The aforesaid provision is applicable only cheques cleared under the image-based Cheque Truncation System (CTS). CTS is presently implemented only in National Capital Region (NCR) and will be introduced shortly in Chennai. Cheques can be returned irrespective of availability of funds. Cheques can be returned even if the alterations are authenticated by account holder/s or authorized signatory/ ies. Alteration in date is allowed and branches may pass the cheques if authorized signatory/ ies have signed the alteration and the cheque is otherwise in order. The aforesaid provision is not applicable to cheques cleared under other clearing arrangements such as MICR clearing, Non-MICR Clearing, over the counter collection (for cash payment) or direct collection of cheques outside the Clearing House arrangement. The provisions will be effective be from December 01, 2010. Banks are empowered to return the cheques presented in Cheque Truncation System (CTS) which are having alterations/ corrections except for date validation purpose.