June 10, 2006	Saturday	Jumadi-ul-Awwal 13, 1427

KARACHI, June 9: The banks will simplify the terms and conditions on account opening forms. They will not only publish these conditions in larger font but also in Urdu language for removing grievances of the public.

The decision was taken at joint meeting of the State Bank of Pakistan and Pakistan Banks Association (PBA) held with the State Bank Governor Dr Shamshad Akhtar in the chair, says a SBP press release.

To create awareness among the general public about the new system of reporting to the Credit Information Bureau, the State Bank and the PBA will publish advertisements in the press.

The meeting was informed that 3,424 branches were providing real time online banking facility to the account holders as against 7,242 branches of 41 banks operating in the country which means that 47.27 per cent branches are online branches. It was emphasised in the meeting that the volume and value of online transactions should be enhanced.

The PBA assured the State Bank that the banks would try their level best to sparingl use the SBP discount window.