Publicity in Bank Branches

Banks should consider designing posters or pamphlets or flyers or notices containing following messages:

Ø    Never respond to unsolicited offers of money received through emails/phone/ other media*

Ø      No one really gives you money for free*

Ø    Be careful while investing in seemingly attractive schemes offering high returns *

Ø    Don’t invest in unregulated companies/entities*

Ø    Don’t rely on hearsay - Check for yourself*

Ø    High return means higher risk including potential loss of entire money – Check your risk-appetite! *

Ø    Take care of your money – it is hard to earn but easy to lose*

Ø    When in doubt check with a trusted financial adviser*

*For any clarification, visit www.rbi.org.in or www.sebi.gov.in or www.irda.gov.in

Such messages may be displayed or distributed in the bank branches in the official language of the state. Banks may also consider places like ATM or BC Points where such messages could get wider visibility.

To be effective such measures have to be pursued continuously for a long period of time. The branch officials should be encouraged to share any meaningful information of any dubious scheme in their area with their Regional Offices, which may, in turn, share such information with concerned Regional Office of RBI.

RBI is also sending a copy of this circular to IBA to consider developing a common design for the above messages which individual banks may consider adopting/ printing and then displaying or distributing.

Based on RBI notification dated 21/04/2016. For any further clarification please visit www.rbi.org.in …………Poppy