RBI / 2006-07 / 153
UBD.CO. (PCB). Cir No.15 /09.39.000/ 2006-07
October 16, 2006
The Chief Executive Officers of
All Primary (urban) Co-operative Banks
Dear Sir/ Madam,
Customer Service - non-issuance of passbooks
to Savings Bank Account-holders (Individuals) - UCBs
As you are aware, a passbook is a ready reckoner
of transactions and being handy and compact, is far more convenient to the small
customer than a statement of account which has some inherent difficulties, viz.
need of filing, tallying of opening balance with closing balance of last statement,
loss/delay in receipt of statement, etc.
2. Banks are, therefore, advised to invariably
offer passbook facility to all their savings bank account-holders (individuals).
The cost of providing such passbooks should not be recovered from the customers.
3. Please acknowledge receipt to our Regional
Office concerned.
Yours faithfully,
(N.S. Vishwanathan)
Chief General Manager-in-Charge
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