Booklet for customers’ reference on banking norms released

It provides details of principles of fair banking norms and enhances the customers’ knowledge of quality and extent of services they are entitled to, he informed. It also gives details of complaint redressal system, he added.

Somaiya hoped that the bank would start registering profits from next year onwards. Last two years, the bank suffered losses of Rs. 210 crore which will come down to Rs. 20 crore in the current year, Somaiya told. He said that the advances of the bank stands at Rs. 5,000 crore. He attributed the losses to low productivity. The bank has deposits worth Rs. 10,500 crore which are likely to go up to Rs. 13,000 crore by March next, added Somaiya.