IBA-Approved Packers and Movers are verified moving companies providing relocation services across various cities in India. After meeting various eligibility criteria of the Indian Banks’ Association (IBA), these companies became eligible for approval from the association. The absence of any proper autonomous or authorized body regulating this industry is considered to be the most important reason for the increasing number of scams in the logistics industry. After understanding and considering the fallout of these scams in the Packers and Movers industry in Gurgaon, the Indian Banks’ Association (IBA) decided to check the authenticity of the companies engaged in the business of relocation services across India and brought out a list of IBA-Approved Movers and Packers. With this government authority working and authorizing more than 500 transport operators, people now heave a sigh of relief and can fearlessly avail the services of IBA-Approved Packers and Movers.
Why Hire IBA-Approved Packers And Movers?
With the increasing number of frauds and scams in the industry of packers and movers, people are scared to avail the services of such companies. The news of trucks running away with household items of people making headlines every day has broken the trust of the people in the companies engaged in similar businesses. Though they face huge problems in shifting their belongings from one place to another, they are reluctant to hand over household items bought with their hard-earned money to the moving companies. People have become skeptical about hiring a moving company for their move as they just want to ensure the safety of their belongings and save themselves from falling prey to any kind of fraud from such robbers.
But, with the presence of IBA-Approved Transport Services in Gurgaon, all the above fears can be put to rest. These IBA-Approved Packers and Movers in Gurgaon are reliable, verified and professional, and experienced and can be entrusted with relocation work fearlessly. They will ensure that your household goods or vehicles reach their rightful destination within time and under the best of conditions.
What is IBA (Indian Banks Association)?
Indian Banks’ Association (IBA) is an authorized body constituted to manage and operate the banking system in India. Formed on 26 September 1946, it is a federation of 237 Indian banks and financial institutions. Member banks of IBA include public sector banks, cooperative banks, private sector banks, regional rural banks, Indian financial institutions, and foreign banks with branch offices in India.
The main objectives of IBA include –
Development, Co-ordination, and Strengthening of the Indian Banking System
Assisting member banks in implementing and adopting new policies and standards
IBA Management Committee Certified Bank
- South Indian Bank
- Bank of India
- Federal Bank
- City Union Bank
- United Bank of India
- Punjab National Bank
- Union Bank of India
- Central Bank of India
- State Bank of India
- Bank of Baroda
- Vijaya Bank
- Corporation Bank
- Mashreq Bank
- United Overseas Bank
- Standard Chartered Bank
- NKGSB Cooperative Bank
- Saraswat Cooperative Bank
- Canara Bank
- UCO Bank
- IDBI Bank
- Nainital Bank
What are IBA-Approved Movers and Packers?
Indian Banks Association (IBA) has released a list of approved transport companies including renowned packers and movers in Gurgaon who have successfully met the eligibility criteria of the scheme framed by this regulatory body. As per the IBA scheme, the names of transport operators are recommended by the consortium to its member banks and they will prepare their own approved list of transport operators. IBA will recommend only licensed and registered moving companies to its member banks and IBA does not recommend anyone else. IBA-Approved Packers and Movers Company will be allotted a unique code after registration. Hence, it is always better to go for IBA-Approved Movers and Packers for smooth and safe relocation.
Salient Features of the IBA Scheme for Recommending Transport Operators to Member Banks
The IBA called for the lorry receipt to be made a document of title to provide additional security to banks, who often discount/issue bills with this receipt.
When the IBA requested the Central Government and the Reserve Bank of India to make the lorry receipt a document of title, a model scheme for licensing transport operators was prepared and circulated among state governments.
The delay in implementation of the model scheme by the State Governments urged the IBA to prepare the scheme for the recommendation of the transport operators to ensure that the lorry receipt is treated at par with the document of title.
Under this scheme of IBA, the criteria for recommendations of names of transport operators by IBA to its member banks have been laid down, as well as the conditions and documents to be fulfilled by transport operators approved by the Association for obtaining its approval.
Documentary bills in special forms along with lorry receipts will serve as security against bills discounted/purchased or advances granted by banks.
The recommendations of the names of transport operators by IBA to its member banks are confidential and not disclosed to any third party. The recommendations are purely based on the fulfillment of the criteria and obligations under the scheme.
The recommendations made by IBA do not constitute any responsibility regarding the honesty or integrity of the transport operators. It does not give any guarantee or assurance to the customers of the banks or to the public in relation to any transport operator. Member banks can refer to IBA only if it has advanced or discounted any bill with a lorry receipt in the specified form.
How to find IBA-Approved Packers and Movers in Gurgaon?
If you’re looking for an IBA-approved Packers and Movers in Gurgaon, here’s what you need to know before making a selection. Here’s all you need to know about professional packers and movers approved by IBA – Indian Banks Association. Ultimately, hiring IBA-Approved Packers and Movers is a great option when seeking safe and reliable relocation services.
Because of this, the Indian Banks’ Association has developed a number of logistics and transportation firms across the country, which include well-known and reputed best packers and movers. Due to a long-standing endeavor to deduct and deliver money with lorry receipts, IBA developed a model system for its associate banks to assist the transport staff.
IBA approves only packers and movers that match the requirements of the IBA recommendation system for their branch banks. Under the IBA scheme, a moving firm must complete the prescribed documents and obtain the relevant criteria.
IBA-approved packer and mover businesses are given a kind of code for delegation. Their order is valid till a specific date fixed by the IBA. It promotes only those firms which are licensed and registered.
In recent times, there has been a significant increase in the need for IBA-Approved Packers and Movers near me. The reason is simple: IBA-Approved Moving Company are accredited, vetted, and regulated by logistics and transportation companies. Ongoing businesses are subjected to a thorough verification process by IBA and its member banks.
Only those firms that fully comply with the rules of the IBA Recommendation System are endorsed by the IBA. Therefore, you are more likely to get reliable relocation service if you go with an IBA-approved packer and mover.
Benefits of Hiring IBA-Approved Packers and Movers in Gurgaon
When it comes to hiring packers and movers for one’s relocation, we always look for one who is registered and licensed by a proper legal authority to ensure the safety of the goods in transit. IBA-Approved Packers and Movers provide a sense of security to the people in terms of handing over their valuables. Some other benefits include:
Registered and Verified Packers and Movers: IBA approves only those packers and movers who are registered and licensed under the law. It provides a unique code to the transport operators after they have successfully fulfilled all the obligations required under the IBA scheme. So, now hiring reliable packers and movers for your move is not a difficult task.
Professionalism: IBA-Approved Packing and Moving are professionals and experienced in carrying out relocation tasks efficiently. The professionals of the moving company will expertly handle every relocation task considering every minute detail. So, you can rest assured of getting the best quality services within your budget.
Safety of Goods: This is one of the major parameters that people consider before hiring the best packers and movers for their moves. As IBA-Approved Moving Company are registered and verified, they take full responsibility for your belongings. All your belongings are safe with them and will reach their rightful destination in the safest manner.
Insurance Services: Most of the IBA-Approved Movers and Packers provide this facility to their customers. Insurance of goods and vehicles will protect them from any monetary loss in transit of the goods.
Nationwide Approach: IBA-Approved Packers and Movers have experience in handling household, vehicle, and office shifting in Gurgaon owing to their pan-India logistic network.
Timely Delivery of Goods: All professional packers and movers approved by IBA complete each shifting job in a timely manner. They understand the value of time and make every effort to ensure that the goods of their customers reach their destination within the estimated time.
Pocket-Friendly Prices: Association-approved moving companies do not charge heavy prices from customers. Their moving cost charges are reasonable and according to the services they provide to the customers. The final cost of relocation is estimated after careful analysis of every aspect of the relocation.
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