The banks and financial institutions are required to ensure compliance of their obligation towards borrowers in appropriate and transparent manner. The code prepared for this purpose by RBI and adopted by banks is called

Disclosure of information on products and services on websites is found to be an effective channel for reaching out to customers and the public at large. Such disclosures increase transparency in operations and also help to create awareness among customers about the products and services offered by banks.  On the basis of the recommendations of the Working Group on Lenders’ Liability Laws constituted by the Government of India, the feasibility of introducing the Fair Practices Code for Lenders was examined in consultation with Government, select banks and financial institutions. The guidelines have since been finalised and banks are advised to adopt the broad guidelines and frame the Fair Practices Code duly approved by their Board of Directors.