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