Banking Exam Question - What are the NRB Directives about Provision of Financial Customer Protection & Transparency in Organization? Explain

Introduction - Customer Protection & Transparency

• In addition to the services and equipment provided by the customer, the related procedures and conditions to be related to the related fees, commissions, interest rates, penalties, and compensation should be included,
  The organization should provide financial services, all types of accounts and brief details of the information about debt and financial instruments or arrangements to be made available to the customers and the public.

• Different types of accounts and details related to the basis of the fees for the financial services provided to the customer, and details related to it, fixed process and procedure for banking, accounting for closing of account,

• Interesting calculation method, advance payment fee, bankruptcy, late fees, penalty and damages, procedures related to various electrical card operations, penalty can be in bankrupt business, and penalties and customer satisfaction should be ensured simultaneously without paying a loan. In general and in public language, to inform the public To return,

• The arrangement for the customer to take free information should be made regarding their business,

• The licensed entity should send the number of different fees and interest rates to the customers, and also publish publications on public information for public information,