<Ul> <Li> AC Mahajan, Chairman </Li> </Ul> <Li> AC Mahajan, Chairman </Li> <Tr> <Th> Website </Th> <Td> www.bcsbi.org.in </Td> </Tr> <P> The Banking Codes and Standards Board of India (BCSBI) is an independent banking industry watchdog that protects consumers of banking services in India . The board oversee compliance with the "Code of Bank's Commitment to Customers". It is not a compensation mechanism and looks into an individual complaint only to the extent it points to any systemic compliance failure . It is an independent and autonomous body, registered as a separate society under the Societies Registration Act, 1860 on February 18, 2006 . The Reserve Bank of India extended financial support to the Board, meeting its expenses for the first five years . </P>

How does bcsbi ensure that the prescribed codes are followed by member banks