CREDIT COUNSELLING SCHEME
OF THE BANKING CODES AND STANDARDS BOARD OF INDIA
• Coverage: Credit Counselling will be provided only to the borrowers of member
banks in the retail segment e.g. personal loam/vehicle loan/home loan/Credit Card
and MSE sector whose credit exposure does not exceed Rs. 50 lakh.
• Procedure: Borrowers in distress and seeking credit counselling may directly apply
to BCSBI in the prescribed application form. Member banks may also encourage
borrowers whose loan accounts are in default and who, in their opinion, need credit
counselling to approach BCSBI.
9 If the applicant’s case requires debt restructuring, the Counsellor will
formulate a debt restructuring plan in consultation with the concerned bank(s).
9 It is not obligatory for a bank to accept the debt restructuring plan drawn by
the Counsellor and the concerned bank is free to accept the solution in full or
with modifications.
• Charges: The credit counselling services are free of charge.
• Confidentiality: Credit Counsellors will maintain confidentiality of the information
received from member banks/borrowers. Member banks need to assure their
borrowers on this to encourage them to avail of the credit counselling services.
• Coordination: In order to ensure that there is co-ordination between Credit
Counsellors and the banks and also to ensure that the objectives of the Credit
Counselling are met with speed and efficiency, each member bank will identify a
Nodal Officer, preferably from the Credit Department.
• Location and Address: Counselling services will be available between 10.00 AM
to 5.30 PM from Monday to Friday at the following address:
Banking Codes and Standards Board of India
C-7, Reserve Bank of India Building
Bandra Kurla Complex Bandra (East)
Mumbai – 400 051
Tel No (022) 2657 1105 Fax No (022) 2657 3719
Website: www.bcsbi.org.in
e-mail : [deleted]