The Banking Codes and Standards Board of India (BCSBI) is an independent banking industry watchdog that protects consumers of banking services in India. BCSBI Logo, Banking Codes and Standards Board of India. Dear Readers, Heartiest greetings to all of you. BCSBI stands for The Banking Codes and Standards Board of India (BCSBI), which is an independent industry watchdog that works in the. 1) Principal Code Compliance Officer for Banking Codes and Standards Board of India (BCSBI):-. We are a member of BCSBI-a voluntary code ensuring safe banking practices while dealing with our valuable.